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dc.contributor.authorDuy, Hung Bui
dc.contributor.authorMakin, Anthony J
dc.contributor.authorRatnasiri, Shyama
dc.date.accessioned2018-10-16T04:12:57Z
dc.date.available2018-10-16T04:12:57Z
dc.date.issued2017
dc.identifier.issn1354-7860
dc.identifier.doi10.1080/13547860.2016.1270041
dc.identifier.urihttp://hdl.handle.net/10072/344996
dc.description.abstractThis paper focuses on Vietnam's exchange rate whose official rate has been pegged by the State Bank against the US dollar since 1989 despite wider market liberalisation over this time. Whether Vietnam's official exchange rate is appropriately valued has important implications for the economy's international competitiveness, trade balance and gross domestic product (GDP). The main aim of the paper is to assess whether the official exchange rate has been valued appropriately with reference to macroeconomic fundamentals, as proposed by the purchasing power parity and the behavioural equilibrium exchange rate approaches to evaluating equilibrium exchange rates. Our main empirical finding based on co-integration analysis using quarterly data from 1995 to 2014 is that according to both these approaches the Vietnamese Dong was significantly overvalued for extended times, most notably due to Vietnam's relatively high inflation rate.
dc.description.peerreviewedYes
dc.languageEnglish
dc.language.isoeng
dc.publisherRoutledge
dc.relation.ispartofpagefrom357
dc.relation.ispartofpageto371
dc.relation.ispartofissue3
dc.relation.ispartofjournalJournal of the Asia Pacific Economy
dc.relation.ispartofvolume22
dc.subject.fieldofresearchApplied economics
dc.subject.fieldofresearchApplied economics not elsewhere classified
dc.subject.fieldofresearchPolicy and administration
dc.subject.fieldofresearchBanking, finance and investment
dc.subject.fieldofresearchDevelopment studies
dc.subject.fieldofresearchcode3801
dc.subject.fieldofresearchcode380199
dc.subject.fieldofresearchcode4407
dc.subject.fieldofresearchcode3502
dc.subject.fieldofresearchcode4404
dc.titleIs Vietnam's exchange rate overvalued?
dc.typeJournal article
dc.type.descriptionC1 - Articles
dc.type.codeC - Journal Articles
dc.description.versionAccepted Manuscript (AM)
gro.rights.copyright© 2017 Taylor & Francis (Routledge). This is an Accepted Manuscript of an article published by Taylor & Francis in Journal of the Asia Pacific Economy on 04 Jan 2017, available online: https://www.tandfonline.com/doi/10.1080/13547860.2016.1270041
gro.hasfulltextFull Text
gro.griffith.authorMakin, Tony J.
gro.griffith.authorRatnasiri, Shyama G.


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