학술저널
DEUTSCHEMARK DOMINANCE OF EMS CURRENCIES: EVIDENCE FROM DAILY SPOT EXCHANGE RATES
- People & Global Business Association
- Global Business and Finance Review
- Vol.2 No.1
-
1997.061 - 12 (11 pages)
- 4
This study investigates the German dominance hypothesis from the perspective of foreign exchange rates within the EMS. The findings indicate that the value of the German deutschemark affects the values of other EMS currencies more than values of the other currencies affect the deutschemark. Bi-directional effects exist, however, and the mark is not independent of the remaining EMS currencies. Further, the strength of the mark in determining values of the other currencies appears to have strengthened since the German reunification.
Abstract
INTRODUCTION
METHODOLOGY
DATA SELECTION AND APPLICATION
EMPIRICAL RESULTS
AN EXTENSION
SUMMARY AND CONCLUSIONS
ENDNOTES
REFERENCES
BIOGRAPHIES
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