Currency Speculation and the Optimum Control of Bank Lending in Singapore Dollar : A Case for Partial Liberalization /
The Monetary Authority of Singapore (MAS) has a long-standing policy of controlling bank lending in Singapore dollars to nonresidents and to residents who use the funds outside Singapore. While the control may prevent the internationalization of the Singapore dollar and contain exchange rate volatil...
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| 格式: | 杂志 |
| 语言: | English |
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Washington, D.C. :
International Monetary Fund,
1996.
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| 丛编: | IMF Working Papers; Working Paper ;
No. 1996/095 |
| 在线阅读: | Full text available on IMF |
| 总结: | The Monetary Authority of Singapore (MAS) has a long-standing policy of controlling bank lending in Singapore dollars to nonresidents and to residents who use the funds outside Singapore. While the control may prevent the internationalization of the Singapore dollar and contain exchange rate volatility, it can hinder the deepening and widening of the financial markets in Singapore. This paper suggests three policy options that would allow traders and investors to borrow Singapore dollars without any restrictions, while making it costly for speculators since their activities can cause exchange rate volatility which arguably imposes external costs to society. |
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| Item Description: | <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required |
| 实物描述: | 1 online resource (34 pages) |
| 格式: | Mode of access: Internet |
| ISSN: | 1018-5941 |
| 访问: | Electronic access restricted to authorized BRAC University faculty, staff and students |