Foreign interest rate shocks and exchange rate regimes of small open economies : experience from Hong Kong and Singapore

• Main Authors: Yang, Chuyi, Zhang, Tong, Zhu, Shitong
• Other Authors: Chia Wai Mun
• Format: Final Year Project
• Language: English
• Published: 2015
• Subjects: DRNTU::Social sciences::Economic theory::Macroeconomics; DRNTU::Social sciences::Economic development::Singapore; DRNTU::Social sciences::Economic development::China; DRNTU::Business::Finance::Interest rates
• Online Access: http://hdl.handle.net/10356/62730
• Institution: Nanyang Technological University

Recent decades have witnessed a steady decline in the real interest rates associated with US Treasury securities, especially after 2008 US subprime crisis. Since the spillover effect of developed or large economies on the small open economies is largely through trade and financial linkages, any shoc...