PL EN


2013 | 170 | 95-105
Article title

Realny kurs walutowy a presja rynkowa na złotego, forinta i koronę czeską w latach 2000-2011

Content
Title variants
EN
Real Effective Exchange Rate na Market Pressure on Zloty, Forint and Czech Korona in 2000-2011
Languages of publication
PL
Abstracts
EN
During the first years after accession Polish, Hungarian and Czech republics experienced a huge inflow of private and public funds that resulted in exchange rate appreciation, reserves accumulation, interest rates cuts. During the liquidity crisis substantial capital flows reversals and exchange rate sharp depreciations were experienced. Shocks in capital flows influenced the real exchange rate evolution and consecutively - the competitiveness of these three economies. The aim of this article is to answer the question to which extent the situation on the FX market has influenced the competitiveness of Polish, Hungarian and Czech economies represented by a real effective exchange rate fluctuations. In the first part the characteristics of foreign exchange markets in Poland, Hungary and the Czech Republic are presented. The second part concentrates on analysis of index of speculative pressure and its impact on evolution of real exchange rate.
Keywords
Year
Volume
170
Pages
95-105
Physical description
Contributors
References
  • Barteczko K., Przystupa J., Czynniki określające zmiany strumieni handlu zagranicznego Polski i ekonometryczna prognoza obrotów na lata 2007-2009, IKICHZ, Warszawa 2006.
  • BIS, Triennial Central Bank Survey of Foreign Exchange and Derivatives Market Activity in 2010, BIS, Bazylea 2010.
  • Canales-Kriljenko J.I., Guimaraes R., Karacadag C., Official Intervention in the Foreign Exchange Market: Elements of Best Practice, IMF WP 03/152, Waszyngton 2003.
  • Égert B., Komárek L., Official Foreign Exchange Interventions in the Czech Republic: Did They Matter? William Davidson Institute WP 760, 2005.
  • Eichengreen, B., Rose, A., Wyplosz, C., Speculative Attacks on Pegged Exchange Rates: An Empirical Exploration with Special Reference to the European Monetary System. NBER WP 4898, 1994.
  • Exchange Market: A Bootstrap Approach, NBER WP 3818, 1991.
  • Mroczek W., Rubaszek M., Determinanty polskiego handlu zagranicznego, Materiały i Studia 161, NBP, Warszawa 2003.
  • Założenia polityki pieniężnej 2010, NBP, Warszawa, wrzesień 2009.
Document Type
Publication order reference
Identifiers
ISSN
2083-8611
YADDA identifier
bwmeta1.element.desklight-ae5cdbca-b856-41fc-a3f4-210b65d86023
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