Bitte verwenden Sie diesen Link, um diese Publikation zu zitieren, oder auf sie als Internetquelle zu verweisen: https://hdl.handle.net/10419/203422 
Erscheinungsjahr: 
2019
Schriftenreihe/Nr.: 
ADB Economics Working Paper Series No. 581
Verlag: 
Asian Development Bank (ADB), Manila
Zusammenfassung: 
The taper tantrum episode induced a sudden outflow of capital from emerging markets back to the United States. This paper analyzes exchange market pressure in 93 developing and emerging market economies during this episode, drawing on recent methodological improvements in measuring exchange market pressure. We find that all economies in the sample that were integrated with global capital markets were heavily hit. Although popular discourse suggested that the extent of an economy's fragility depended on its macroeconomic fundamentals, we find these fundamentals did not have much of a role in determining the level of pressure on a currency.
Schlagwörter: 
capital flows
exchange market pressure
financial shock
international trade and finance
macroeconomics
taper tantrum
JEL: 
E52
F31
F32
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Dokumentart: 
Working Paper

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