Foreign exchange interventions in a small emerging market: the case of Croatia (CROSBI ID 253606)
Prilog u časopisu | izvorni znanstveni rad | međunarodna recenzija
Podaci o odgovornosti
Égert, Balázs ; Lang, Maroje
engleski
Foreign exchange interventions in a small emerging market: the case of Croatia
This paper studies the impact of daily official foreign exchange interventions on the exchange rates in Croatia for the period from 1996 to 2004. Using the event study methodology and a variety of GARCH models reveals that the Croatian central bank was in a position to influence, to some extent, the level of the exchange rate during the period studied. This lends support to the view that foreign exchange intervention may be effective in emerging market economies.
Central bank intervention ; Foreign exchange intervention ; Official interventions ; Foreign exchange market ; Effectiveness ; Exchange rate volatility ; Emerging economies ; Transition economies
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Podaci o izdanju
39 (1-2)
2006.
35-62
objavljeno
1573-9414
1574-0277
10.1007/s10644-007-9019-z
Povezanost rada
Ekonomija