Trade similarities and contagion among the Asian crisis economies
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journal contribution
posted on 2002-03-01, 00:00authored byK S Chan, Chi-Chur Chao, W L Chou
This paper estimates trade similarities among the recent currency crisis economies in Asia. Direct measures of trade similarities, by the elasticities of substitution of national exports, are computed. Our finding supports the hypothesis that the Asian currency crisis (or the mechanism of competitive devaluations) spreads among economies with similar and close trade ties.