Does the Introduction of Futures on Emerging Market Currencies Destabilize the Underlying Currencies? »
Series: IMF Working Papers
Author(s): Christian Jochum , and Laura Kodres
Publisher: INTERNATIONAL MONETARY FUND
Publication Date: 01 February 1998
Keywords: volatility spillover, emerging markets, SWARCH, futures market, spot market, futures contracts, futures markets, futures trading
Recent interest in futures contracts on emerging market currencies has raised concerns among some central bank authorities about their ability to maintain stable currencies. This paper presents empirical results ex...