Exchange Rates and Economic Recovery in the 1930s: An Extension to Asia
Journal
Australian Economic History Review
Journal Volume
58
Journal Issue
2
Pages
134-152
Date Issued
2018
Author(s)
Ting C.-J.
Abstract
Scholars have found a positive relationship between the magnitude of currency depreciation and the extent of recovery from the Great Depression for Europe and Latin America. The relationship between currency depreciation and economic activity during the Great Depression for Asian economies has not yet been explored. This paper examines this topic using data from 13 Asian economies: China, India, Indonesia, Iran, Japan, Korea, Malaysia, the Philippines, Singapore, Taiwan, Thailand, Turkey, and Vietnam. We find that Asian economies responded in a similar way to currency depreciation during the Great Depression as did European and Latin American countries. ? 2017 Economic History Society of Australia and New Zealand and John Wiley & Sons Australia, Ltd
Subjects
Asian economy; E42; economic recovery from the Great Depression; exchange rate; F33; gold standard; N25; silver standard
Publisher
Blackwell Publishing Ltd
Type
journal article