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Currency Cooperation In East Asia
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Book Synopsis Currency Cooperation in East Asia by : Frank Rövekamp
Download or read book Currency Cooperation in East Asia written by Frank Rövekamp and published by Springer. This book was released on 2014-07-08 with total page 167 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book explores the opportunities and limits of currency cooperation in East Asia. Currency issues play an important role in the region. The Asian crisis of the late 90s was rooted in deficient currency arrangements. The Chinese RMB is not freely convertible yet, but policymakers in China nevertheless aim for a more international role of the Chinese currency. The recent change of direction in Japanese monetary policy caused a drastic depreciation of the Yen and led to warnings against a possible “currency war”, thus demonstrating that currency issues can also easily lead to political frictions. Most trade in and with the East Asian zone on the other hand is still conducted in US $. Against this background different modes of currency cooperation serve the goal of smoothing exchange rate fluctuations and capital flows. They are an important element to promote financial stability and to reduce the transaction cost for foreign trade or investment. The contributions of this book analyze the environment and design of currency cooperation in East Asia and their effects from a macro-and microeconomic viewpoint.
Book Synopsis Currency Cooperation in East Asia by : Frank Rovekamp
Download or read book Currency Cooperation in East Asia written by Frank Rovekamp and published by . This book was released on 2014-03-31 with total page 176 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Monetary and Financial Cooperation in East Asia by : Masahiro Kawai
Download or read book Monetary and Financial Cooperation in East Asia written by Masahiro Kawai and published by OUP Oxford. This book was released on 2015-04-02 with total page 240 pages. Available in PDF, EPUB and Kindle. Book excerpt: The global financial crisis and the Eurozone crisis have led to a profound rethink in East Asia about the international monetary system and regional monetary and financial integration. After the East Asian crisis of 1997, deeper regional cooperation was seen as the way to avoid reliance on the IMF and the rest of the world. Steps were taken, but they were limited because of disagreements reflecting regional rivalries. Still, integration into the global financial system and Europe's regional process were seen as objectives to be adapted to East Asia, as detailed in an overview chapter. The crises have shaken this strategy but also revealed the pre-existing deep disagreements. This book presents contributions by scholars from different countries. Each one was invited to describe the vision of their policymakers. The traidtional rivalry between China and Japan, the region's largest economies, reveals Chinese confidence into its rising power and Japanese growing doubts about its ability to weigh on the debate. For opposite reasons, both display a declining interest into regional cooperation. Korea and the ASEAN countries do not wish to choose between the regional powers but remain attached to regional cooperation and integration. They look for pragmatic solutions that recognize the value-chain characteristic of trade. Additional contributions by US and European scholars provide evaluations of the global and Eurozone crises and of their relevance for East Asian integration.
Book Synopsis Prospects for Monetary Cooperation and Integration in East Asia by : Ulrich Volz
Download or read book Prospects for Monetary Cooperation and Integration in East Asia written by Ulrich Volz and published by MIT Press. This book was released on 2010 with total page 339 pages. Available in PDF, EPUB and Kindle. Book excerpt: East Asian countries were notably uninterested in regional monetary integration until the late 1990's, when the Asian financial crisis revealed the fragility of the region's exchange rate arrangements and highlighted the need for a stronger regional financial architecture. Since then, the countries of East Asia have begun taking steps to explore monetary and financial cooperation, establishing such initiatives as regular consultations among finance ministers and central bank governors and the pooling of foreign exchange reserves. In this book Ulrich Volz investigates the prospects for monetary cooperation and integration in East Asia, using state-of-the-art theoretical and empirical tools to analyze the most promising policy options. --
Book Synopsis Fostering Monetary and Financial Cooperation in East Asia by :
Download or read book Fostering Monetary and Financial Cooperation in East Asia written by and published by . This book was released on with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Toward an East Asian Exchange Rate Regime by : Duck-Koo Chung
Download or read book Toward an East Asian Exchange Rate Regime written by Duck-Koo Chung and published by Rowman & Littlefield. This book was released on 2007-05-01 with total page 176 pages. Available in PDF, EPUB and Kindle. Book excerpt: East Asian exchange rates have become a global flashpoint. U.S. policymakers blame artificially low Asian currency values for global imbalances, including America's ballooning current account deficit. The solution, they argue, lies in some combination of greater exchange rate flexibility and the appreciation of Asian currencies against the dollar. Asian officials recognize the need to let their exchange rates rise, but they fear that would hamper growth and cut sharply into the value of their dollar reserves. Toward an East Asian Exchange Rate Regime offers a timely and comprehensive analysis of the resulting debates, drawing on expertise from China, Japan, South Korea, and the United States. The introduction reviews the issues at stake, sketches a variety of proposed exchange rate regimes, and discusses comparisons between East Asia and the West. Subsequent chapters examine the connection between global financial imbalances and East Asian monetary cooperation, China's potential role in regional coordination, the relationship between monetary and trade integration, and different paths toward regional cooperation. Authoritative yet concise, this is an essential primer on East Asian monetary integration. Contributors include Gongpil Choi (Korean Institute of Finance, Federal Reserve Bank of San Francisco), Masahiro Kawai (University of Tokyo, Asian Development Bank), Kwanho Shin (Korea University), Yunjong Wang (SK Institute), Masaru Yoshitomi (RIETI,Tokyo), and Yongding Yu (Chinese Academy of Social Sciences).
Book Synopsis Monetary Cooperation in East Asia by : Raul V. Fabella
Download or read book Monetary Cooperation in East Asia written by Raul V. Fabella and published by . This book was released on 2002 with total page 70 pages. Available in PDF, EPUB and Kindle. Book excerpt: Surveys the growing literature on monetary cooperation in East Asia (EA) that goes beyond the Chiang Mai Initiative. It compares and contrasts the various proposals for cooperation such as the Williamson basket peg, the Asian monetary system, and the yen block as to their crisis prevention impact and their feasibility, both economic and political. Also reviews the evidence on the readiness of EA and some of its proper subsets for a currency union in the light of experiences elsewhere, especially of European monetary cooperation. Chapters: currency unions and the European Monetary Union; current exchange rate regime and monetary cooperation in EA; proposals for monetary and exchange rate cooperation in EA; and costs and benefits of a monetary union in EA.
Book Synopsis Monetary Cooperation in East Asia by : Sŭng-yŏng Kwak
Download or read book Monetary Cooperation in East Asia written by Sŭng-yŏng Kwak and published by 대외경제정책연구원. This book was released on 2003 with total page 96 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Fostering Monetary & Financial Cooperation in East Asia by : Duck-Koo Chung
Download or read book Fostering Monetary & Financial Cooperation in East Asia written by Duck-Koo Chung and published by World Scientific. This book was released on 2009 with total page 190 pages. Available in PDF, EPUB and Kindle. Book excerpt: Since the Asian financial crisis of 1997?1998, there has been a deep and abiding desire on the part of Asian policy makers and opinion makers to enhance the region's economic, monetary and financial self-sufficiency ? or at least to ring-fence the region against financial instability and give it a louder voice in global financial affairs. There has been progress in these directions, notably in the form of the Chiang Mai Initiative of financial supports and the Asian Bond Market Initiative to build a single Asian financial market. But progress is hindered by disagreements among the principal national governments ? Japan, China and South Korea ? and resistance to the development of an Asian bloc from both Europe and the United States.This volume considers these issues from a number of different national and analytical perspectives. Scholars from all the relevant regions and countries are represented: Japan, China, Korea, Europe and the United States. The treatments are rigorous, but nontechnical and accessible. While there have been a few previous books and articles concerned with the issue of Asian integration, this is one of the first volumes to successfully draw together top contributors from these different countries and regions to address the issues in a rigorous but relatively accessible way.
Book Synopsis Strengthening Regional Financial Cooperation in East Asia by : Haruhiko Kuroda
Download or read book Strengthening Regional Financial Cooperation in East Asia written by Haruhiko Kuroda and published by . This book was released on 2002 with total page 52 pages. Available in PDF, EPUB and Kindle. Book excerpt: "This paper argues that a regional financial architecture needs to be firmly established in East Asia, outlines recent developments in financial cooperation in the region, and provides possible directions for the future". -- p. 1.
Book Synopsis Monetary and Financial Cooperation in East Asia by : Pradumna B. Rana
Download or read book Monetary and Financial Cooperation in East Asia written by Pradumna B. Rana and published by . This book was released on 2003-11 with total page 65 pages. Available in PDF, EPUB and Kindle. Book excerpt: Three reports together: (1) Monetary & Financial Cooperation in East Asia: The Case for & Against Monetary & Financial Cooperation; Evolving Regional Financial Architecture in East Asia; Beyond the Chiang Mai Initiative: Coordination of Macroeconomic & Exchange Rate Policies. (2) Costs & Benefits of a Common Currency for ASEAN; Perspectives on Optimum Currency Area; The Suitability of ASEAN for a Common Currency; Constraints on the Adoption of a Common Currency. (3) New Economy & the Effects of Industrial Structures on International Equity Market Correlation, by Cyn-Young Park & Jaejoon Woo; Data Description & Correlation Analyses; Econometric Methods & Empirical Results.
Book Synopsis Currency and Contest in East Asia by : William M. Grimes
Download or read book Currency and Contest in East Asia written by William M. Grimes and published by Cornell University Press. This book was released on 2011-03-15 with total page 265 pages. Available in PDF, EPUB and Kindle. Book excerpt: Since the Asian Financial Crisis of 1997-98, East Asian economies have sought to make themselves less vulnerable to global financial markets by transforming the regional financial architecture. With Japan as a leading actor, they have introduced initiatives to provide emergency financing to crisis economies, support the development of local-currency bond markets, and better coordinate currency policies. In Currency and Contest in East Asia, William W. Grimes builds on years of primary research and scores of interviews with participants and policy analysts to provide the most accurate, complete, and detailed description available of attempts to build financial cooperation among East Asian countries. Adapting realist political economy theory to the realities of contemporary global finance, Grimes places regional issues firmly in the wider context of great-power rivalries. He argues that financial regionalism can best be understood as one arena for competition among Japan, the United States, and China. Despite their mutual desire for regional prosperity and economic stability, these three powers have conflicting political interests. Their struggles for regional leadership raise questions about the long-term feasibility of regional financial cooperation, the possible effects of Sino-Japanese rivalry on regional financial stability, and the potential for East Asian financial regionalism to undermine the long-established-albeit waning-global and regional dominance of the United States and the dollar.
Book Synopsis Currency and Contest in East Asia by : William W. Grimes
Download or read book Currency and Contest in East Asia written by William W. Grimes and published by . This book was released on 2009 with total page 248 pages. Available in PDF, EPUB and Kindle. Book excerpt: Grimes uses primary research and interviews with scores of participants and policy analysts to provide the most accurate, complete, and detailed description available of attempts to build financial cooperation among East Asian countries.
Book Synopsis Currency Union in East Asia by : Han Gwang Choo
Download or read book Currency Union in East Asia written by Han Gwang Choo and published by 대외경제정책연구원. This book was released on 2002 with total page 276 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Towards Monetary and Financial Integration in East Asia by : Koichi Hamada
Download or read book Towards Monetary and Financial Integration in East Asia written by Koichi Hamada and published by Edward Elgar Publishing. This book was released on 2009-01-01 with total page 423 pages. Available in PDF, EPUB and Kindle. Book excerpt: Towards Monetary and Financial Integration in East Asia is an important book. East Asia, led by China, has been and will continue to be the largest, most rapidly growing region in the world. Major global imbalances persist, with East Asia in large surplus. Yet East Asian financial and monetary integration is only in the early stages of what will necessarily be a long-run process. These 14 essays by different authors address, in six Parts, fundamental long-run issues and prospects. These include the development of a regional financial architecture, liquidity provision and crisis management, surveillance mechanisms, exchange rate arrangements, currency baskets, an Asian Currency Unit, and ultimately even a single currency. The implications of the rise of China and the role of Japan underlie much of these analyses. However imperfect, the EU is the dominant relevant experience for East Asian financial and monetary integration. It is important to understand, as the authors do, that it took 47 years from the EU s nascent founding to the establishment of the euro, and that economic integration has preceded political integration. This book importantly addresses such basic issues in this time frame and with an appreciation of the political economy difficulties of financial integration. Hugh Patrick, Columbia University, US The book edited by Professors Hamada, Reszat, and Volz gives a comprehensive overview of the current status and challenges of economic integration in East Asia. Monetary and financial integration in East Asia has proceeded gradually but steadily since the Asian financial crisis of 1997 98. The book is an authoritative cutting-edge collection of papers in respective topics which brings the reader to the frontier of the literature. Takatoshi Ito, University of Tokyo, Japan This indispensable book provides a comprehensive analysis of monetary and financial integration in East Asia. It assesses the steps already taken toward financial integration and brings forward different proposals for future exchange rate arrangements in what has now become the world s most dynamic region. With contributions from distinguished experts this timely book evaluates the economic and politico-economic arguments and conditions for monetary and financial integration in East Asia. It explores how and to what extent the countries of the region can integrate despite their heterogeneity and their underlying political tensions. Drawing on the European experiences, this book analyzes the economic logic of monetary and financial integration in East Asia and its political feasibility. This invaluable broad analysis will be of interest to academic researchers, students, policy-makers and professional economists working on matters of international economic cooperation, common currency areas, international open economy macroeconomics, and East Asian integration.
Book Synopsis Monetary and Financial Integration in East Asia by : Yung Chul Park
Download or read book Monetary and Financial Integration in East Asia written by Yung Chul Park and published by OUP Oxford. This book was released on 2010-07-01 with total page 192 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book looks at East Asia's monetary and financial integration from both Asian and European perspectives. It analyses the Euro area's framework for monetary policy implementation, introduced in 1999. It reviews the efforts to foster regional monetary and financial integration and relates them to Europe's own evolution. It highlights successes and failures in both cases and offers a careful assessment of the state of play. A central theme of the volume is that the East Asian reliance on markets is not enough to promote the kind of deep integration that Europe has achieved and that provides protection against exchange rate turbulence. The implications of the recent global crisis are also examined. Written by two of the foremost monetary experts on Asia and Europe, this book will be an invaluable aid to students and academics interested in the relevance of the European experience to the debates about monetary integration in East Asia.
Book Synopsis Exchange Rates, Currency Crisis and Monetary Cooperation in Asia by : R. Rajan
Download or read book Exchange Rates, Currency Crisis and Monetary Cooperation in Asia written by R. Rajan and published by Springer. This book was released on 2009-03-26 with total page 242 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book concentrates on exchange rates and their macroeconomic consequences, analytical and empirical issues relating to currency crises and policy responses and monetary and financial cooperation in Asia. It is truely pan-Asia-focused with chapters on China, Japan, Korea, India and Southeast Asia.
