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Fluctuation of Foreign Exchange Rates and Competitiveness of Price

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Authors
Kim, In June
Issue Date
1992-04
Publisher
Institute of Economic Research, Seoul National University
Citation
Seoul Journal of Economics, Vol.5 No.2, pp. 153-166
Keywords
foreign exchange control actkorean wonspecial drawing rights
Abstract
By calculating the deviation of exchange rates from the long-run equilibrium exchange rates which maintain the price competitiveness of Korean goods in the world market, we find that the greater the imbalance in current account has become, the larger the gap between the two rates. While undervalued Korean won in the 1980s did harm on the Korean economy, the rapid appreciation in the 1990s along with the liberalization of capital market is also expected to deteriorate the current account deflcuts.
ISSN
1225-0279
Language
English
URI
http://hdl.handle.net/10371/950
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College of Social Sciences (사회과학대학)Institute of Economics Research (경제연구소)Seoul Journal of EconomicsSeoul Journal of Economics vol.05(2) (Summer 1992)
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