Abstract/Description
This study examines the role of financial integration on exchange market pressure (EMP) across a representative group of forty-two advanced and emerging markets over the period 2000-2019, which covers the global financial crisis, which has heightened monetary and economic policy uncertainty. We use a novel measure of financial integration, namely the uncovered equity return differential versus the US, which is based on the Uncovered Equity Parity and is available at a monthly frequency.
Keywords
Financial Integration, Exchange Market Pressure, Policy Uncertainty, Flexible Exchange Rate Regime
Location
MCC-15, AMAN-CED, Second Floor
Session Theme
2D: Inflation, Debt and Remittances
Session Type
Parallel Technical Session
Session Discussant
Zulfiqar Hyder, State Bank of Pakistan (SBP), Karachi
Start Date
17-11-2023 11:50 AM
End Date
17-11-2023 1:20 PM
Recommended Citation
Phylaktis, K., & Aftab, M. (2023). Financial Integration and Exchange Market Pressure. CBER Conference. Retrieved from https://ir.iba.edu.pk/esdcber/2023/program/31
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Included in
Financial Integration and Exchange Market Pressure
MCC-15, AMAN-CED, Second Floor
This study examines the role of financial integration on exchange market pressure (EMP) across a representative group of forty-two advanced and emerging markets over the period 2000-2019, which covers the global financial crisis, which has heightened monetary and economic policy uncertainty. We use a novel measure of financial integration, namely the uncovered equity return differential versus the US, which is based on the Uncovered Equity Parity and is available at a monthly frequency.
