アジア通貨危機とソブリン格付け(経済発展と国際経済秩序・資源配分の観点からの歴史的評価と今日的課題,共同研究)

概要

論文の詳細を見る
The Asia's Currency Crisis was deeply related with the downgrading of sovereign credit ratings. Lowering the rating induced international investors to withdraw their money from the emerging markets in Asia resulting in the extreme depreciation of their currencies. The Anglo American idea of "credit rating" has widely been spread into Asia since the NIEs and ASEAN member countries deregulated international capital movements in the beginning of 1990s. Due to the collision of two different ideas in the financial credit markets, the currency crisis took place and propagated toward the deterioration of the economic fundamentals. This paper examined the relationship between the Asia's Currency Crisis and the downgrading of sovereign credit ratings in regard to the asymmetric information hypothesis and the investors reference point hypothesis.
日本大学の論文
2000-03-31