The Imperfection Of The Contemporary Western Theories Of Currency Crisis And Exchange Rate Regime

Under the circumstances of currency crises erupting frequently, exchange rate regimes changing continually and economists weeding through the old to bring forth the new theories of currency crises and exchange rate regimes, this dissertation discusses the imperfection of the contemporary western theories of currency crises and exchange rate regimes.The dissertation consists of seven chapters, totally into three parts. The first part includes the initial three chapters, which is a review of the western theory of currency crises and exchange rate regimes. Chapter â…  analyzes several typical currency crises in 1990s. The analysis of those currency crises will be conducted from three aspects: the background, the process and the factors of exchange rate regime in the crisis. Chapter â…¡ introduces three continuously evolving currency crises models with respect to each crisis in history. Chapter â…¢ makes researches on the exchange rate regimes. The dissertation has introduced the exchange rate regimes by theoretical models and dynamic analysis.The second part includes the following three chapters, focusing on the imperfection or absence of the theory of currency crises and exchange rate regimes. Chapter â…£ studies the imperfection of credit theory. According to Marx's theory, currency is a kind of symbol, banks are the institutions of credit and exchange rates are the connection of credit, therefore based on the dialectic relation between standard currency and fractional currency, the nature of contemporary international monetary crisis is the crisis of credit. Chapter â…¤ studies the imperfection of contract theory. It concludes that international monetary system is based on credit, but what's more important is the governments signed an agreement to ensure the commitment, otherwise the international monetary system will be unsustainable. Chapter â…¥ studies...