01569cas a2200253 a 4500 AALejournalIMF007668 230101c9999 xx r poo 0 0eng d 5.00 USD 9781451843736 1018-5941 BD-DhAAL BD-DhAAL Ghosh, Atish. The Interest Rate-Exchange Rate Nexus in the Asian Crisis Countries / Atish Ghosh, Gabriela Basurto. Washington, D.C. : International Monetary Fund, 2000. 1 online resource (25 pages) IMF Working Papers <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students Sharp exchange rate depreciations in the East Asian crisis countries (Indonesia, Korea, and Thailand) raised doubts about the efficacy of increasing interest rates to defend the currency. Using a standard monetary model of exchange rate determination, this paper shows that tighter monetary policy was in fact associated with an appreciation of the exchange rate. Moreover, there is little evidence of higher real interest rates contributing to a widening of the risk premium. Mode of access: Internet Basurto, Gabriela. IMF Working Papers; Working Paper ; No. 2000/019 Full text available on IMF http://elibrary.imf.org/view/journals/001/2000/019/001.2000.issue-019-en.xml IMF e-Library