Work detail

Could The IMF Announcements Contribute to The Coordination of Speculators? Case of Thailand and Experimental Implications

Author: Mgr. Rati Mekvabishvili
Year: 2005 - summer
Leaders: † prof. Ing. Luděk Urban CSc., Jean Monnet Professor
Consultants:
Work type: European Integration
Masters
Language: English
Pages: 116
Awards and prizes:
Link:
Abstract:
The East Asian financial crisis in summer 1997 highly threatened the stability of the whole international monetary system. The International Monetary Fund (IMF) as an international institution being in charge of stability of international financial and monetary system could not restore stability in Thailand and financial distress engulfed much of the region. The IMF is criticised that it precipitated the crisis. This paper analysis the communication strategy and policy of the IMF demonstrated in Thailand. In particular, in a context of the IMF announcement’s impact on the foreign exchange market and behaviour of speculators. With the extension of the experimental investigation and on the basis of overall analysis of theories and empirical evidence, this paper suggests that the IMF’s program announcement made at a mid of the crisis could contribute to the coordination of speculative attacks and thus, deepen instability
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