Skip to main content
Contribution to Book
Bringing about realistic exchange rates : a post-Asian Financial Crisis perspective
Exchange rate regimes and macroeconomic stability
  • Lok Sang HO, Lingnan University, Hong Kong
Document Type
Book chapter
Publication Date
Kluwer Academic Publishers
This chapter argues that both fixed exchange rates and floating exchange rates can lead us to currency crises, as the host currency may be too strong or the floating currency may itself become too strong. What is needed is “realistic exchange rates” that are compatible with full employment and external balance. This chapter attempts to define the concept and to offer a mechanism for approximating realistic exchange rates operationally.
Publisher Statement
Copyright @ 2003 Springer Science+Business Media New York. Access to external full text or publisher's version may require subscription.
Additional Information

Paper presented at the 1st Biennial Conference of the Hong-Kong-Economic-Association, 16-Dec-2000, Hong Kong, China.

ISBN of the source publication: 9781461353652

Full-text Version
Publisher’s Version
Citation Information
Ho, L. S. (2003). Bringing about realistic exchange rates: A post-Asian financial crisis perspective. In L. S. Ho & C. H. Yuen (Eds.), Exchange rate regimes and macroeconomic stability (pp. 133-144). Boston: Kluwer Academic Publishers.