Studies In East Asian Economies: Capital Flows, Exchange Rates And Monetary Policy

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Publisher : World Scientific
ISBN 13 : 9814462128
Total Pages : 284 pages
Book Rating : 4.8/5 (144 download)

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Book Synopsis Studies In East Asian Economies: Capital Flows, Exchange Rates And Monetary Policy by : Jagdish Handa

Download or read book Studies In East Asian Economies: Capital Flows, Exchange Rates And Monetary Policy written by Jagdish Handa and published by World Scientific. This book was released on 2011-07-29 with total page 284 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book includes three economic/econometric studies on four East Asian countries (Indonesia, Malaysia, Philippines and Thailand) and two studies on China. The four East Asian economies, designated at one time as ‘economic tigers’, provide important and interesting case studies on periods of very rapid growth with heavy capital inflows, followed by financial and economic crises. The three studies on these countries examine the impact of heavy capital inflows on growth, real exchange rates and the conduct of domestic monetary policy during the period 1970-96, which immediately preceded their financial crises of 1997-98. At a more general level, they shed light on the contributions that capital inflows make to small open economies and how these inflows impact on their exchange rates and monetary policies.The two studies on China examine the adequacy of capital flows to it and its monetary policies. In recent years, while China has been among the biggest recipients of capital inflows, our study on it finds that these inflows are still considerably short of the amounts that perfect capital flows would imply. Regarding China's pursuit of monetary policy, our study is the first one to question whether interest rates or monetary aggregates are appropriate instruments for the control of the economy. Our finding is that its large informal sector and black money holdings make the use of monetary aggregates the more appropriate policy instrument. This finding contrasts with the usual one for financially developed economies that interest rate targeting and a Taylor rule provide the applicable monetary policy framework.

Macroeconomic Linkage

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Publisher : University of Chicago Press
ISBN 13 : 0226386996
Total Pages : 414 pages
Book Rating : 4.2/5 (263 download)

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Book Synopsis Macroeconomic Linkage by : Takatoshi Ito

Download or read book Macroeconomic Linkage written by Takatoshi Ito and published by University of Chicago Press. This book was released on 2009-02-15 with total page 414 pages. Available in PDF, EPUB and Kindle. Book excerpt: This volume explores East Asia's macroeconomic experience in the 1980s and the economic impact of East Asia's growth on the rest of the world. The authors explore the causes of capital flows, changes in trade balances, and exchange rate fluctuations in East Asia and their effects on other countries. These fourteen papers are organized around four themes: the overall determinants of growth and trading relations in the East Asian region; monetary policies in relation to capital controls and capital accounts; the impact of exchange rate behavior on industrial structure; and the potential for greater regional integration. The contributors examine interactions among exchange rate movements, trade balances, and capital flows; how government monetary policy affects capital flows; the effect of exchange rates on industrial structure, inventories, and prices; and the extent of regional integration in East Asia.

Exchange Rate Regimes and Macroeconomic Management in Asia

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Publisher : Hong Kong University Press
ISBN 13 : 9622090532
Total Pages : 249 pages
Book Rating : 4.6/5 (22 download)

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Book Synopsis Exchange Rate Regimes and Macroeconomic Management in Asia by : Tony Cavoli

Download or read book Exchange Rate Regimes and Macroeconomic Management in Asia written by Tony Cavoli and published by Hong Kong University Press. This book was released on 2009-06-01 with total page 249 pages. Available in PDF, EPUB and Kindle. Book excerpt: With the rise of China, India and the re-emergence of East Asia from the financial crisis of 1997–98, monetary issues in Asia have acquired great significance as the region holds the largest reserves in the world and consequently plays a major role in the global macro-economy. In addition, there are also a great variety of monetary policy regimes at play in the region – reflecting each country's needs and policy preferences. This volume explores monetary, exchange rate and macroeconomic policies in Asia. A particular question that is analysed is Asia's experience since the crisis with the use of monetary policy to manage the resurgence in capital inflows. It also examines the theoretical and policy issues associated with international capital flows, the increasing degree of integration of financial markets and exchange rates for emerging Asian economies. The book is unique in focussing on China, India and Southeast Asia, rather than just having a sub-regional or country-specific focus. Rigorous empirical analysis is applied to important practical policy issues. The book also provides accessible overviews of recent research relevant to the questions that are explored and is written throughout in a manner that is accessible to policy makers, students and business/financial journalists.

Monetary Policy Implementation in East Asia

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Publisher : Springer Nature
ISBN 13 : 3030502988
Total Pages : 177 pages
Book Rating : 4.0/5 (35 download)

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Book Synopsis Monetary Policy Implementation in East Asia by : Frank Rövekamp

Download or read book Monetary Policy Implementation in East Asia written by Frank Rövekamp and published by Springer Nature. This book was released on 2020-09-13 with total page 177 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book shares essential insights into the implementation of monetary policy in various East Asian countries. Highlighting case studies from China, Taiwan, Korea, Japan and Singapore, leading economists and practitioners from central banks illustrate how dependent effective monetary policy is on the institutional and financial market environment, as well as on successful implementation and communication. The respective contributions cover various aspects of monetary policy implementation, such as: How is inflation targeting handled? For what purposes and how do central banks operate on financial markets, and what are the (at times unintended) effects? How do currency market interventions help achieve the monetary policy targets set by individual countries or areas? In addition, Asian experiences are contrasted with those from the Eurozone.

Coping with Capital Flows in East Asia

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Publisher : Institute of Southeast Asian Studies
ISBN 13 : 9789812300164
Total Pages : 344 pages
Book Rating : 4.3/5 (1 download)

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Book Synopsis Coping with Capital Flows in East Asia by : C. H. Kwan

Download or read book Coping with Capital Flows in East Asia written by C. H. Kwan and published by Institute of Southeast Asian Studies. This book was released on 1998 with total page 344 pages. Available in PDF, EPUB and Kindle. Book excerpt: This timely book examines how the countries of East Asia coped with the vast pool of international capital that flowed into the region during the early 1990s. East Asia appeared to be doing well. But, as this book was in preparation in 1997, a currency crisis sent capital fleeing and catapulted the East Asian economies into turmoil. Country-specific updates describe events since July 1997, how government authorities addressed the crisis, and what lessons can be learned.

Exchange Rate, Monetary and Financial Issues and Policies in Asia

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Publisher : World Scientific
ISBN 13 : 9812834583
Total Pages : 325 pages
Book Rating : 4.8/5 (128 download)

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Book Synopsis Exchange Rate, Monetary and Financial Issues and Policies in Asia by : Ramkishen S. Rajan

Download or read book Exchange Rate, Monetary and Financial Issues and Policies in Asia written by Ramkishen S. Rajan and published by World Scientific. This book was released on 2009 with total page 325 pages. Available in PDF, EPUB and Kindle. Book excerpt: A decade has passed since the Asian crisis of 1997OCo1998 which decimated many of the regional economies. While the crisis itself led to severe economic and political consequences, its primary cause was an inappropriate mix of policies, as regional economies attempted to simultaneously maintain fairly rigid exchange rates (soft US dollar pegs) and monetary policy autonomy in the presence of large-scale capital outflows. The chapters in this volume focus on selected exchange rate, monetary and financial issues and policies that are of contemporary relevance and importance to Asia, including choice of exchange rate regimes, causes and consequences of reserve accumulation, international capital flows, macroeconomic synchronization, and regional monetary and financial cooperation.

Capital Flows and Monetary Policy in East Asia

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Publisher :
ISBN 13 :
Total Pages : 60 pages
Book Rating : 4.:/5 (318 download)

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Book Synopsis Capital Flows and Monetary Policy in East Asia by : Reuven Glick

Download or read book Capital Flows and Monetary Policy in East Asia written by Reuven Glick and published by . This book was released on 1994 with total page 60 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Exchange Rates, Currency Crisis and Monetary Cooperation in Asia

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Publisher : Springer
ISBN 13 : 0230234194
Total Pages : 258 pages
Book Rating : 4.2/5 (32 download)

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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 258 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.

Capital Flows, Monetary Policy and Exchange Rates in the Asian Region

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Author :
Publisher : Australian National University, Research School of Social Sciences
ISBN 13 :
Total Pages : 44 pages
Book Rating : 4.:/5 (318 download)

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Book Synopsis Capital Flows, Monetary Policy and Exchange Rates in the Asian Region by : Suiwah Leung

Download or read book Capital Flows, Monetary Policy and Exchange Rates in the Asian Region written by Suiwah Leung and published by Australian National University, Research School of Social Sciences. This book was released on 1996 with total page 44 pages. Available in PDF, EPUB and Kindle. Book excerpt: Booklet examining the responses of several Asian countries to recent surges in capital inflows. Examines the difficulties faced by these countries in trying to maintain pegged exchange rates and monetary independence.

Currency Cooperation in East Asia

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Publisher : Springer
ISBN 13 : 3319030620
Total Pages : 167 pages
Book Rating : 4.3/5 (19 download)

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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.

Fostering Monetary And Financial Cooperation In East Asia

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Publisher : World Scientific
ISBN 13 : 9814468185
Total Pages : 190 pages
Book Rating : 4.8/5 (144 download)

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Book Synopsis Fostering Monetary And Financial Cooperation In East Asia by : Barry Eichengreen

Download or read book Fostering Monetary And Financial Cooperation In East Asia written by Barry Eichengreen and published by World Scientific. This book was released on 2009-04-29 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. 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.

Managing Capital Flows and Exchange Rates

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Publisher : Cambridge University Press
ISBN 13 : 9780521623230
Total Pages : 148 pages
Book Rating : 4.6/5 (232 download)

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Book Synopsis Managing Capital Flows and Exchange Rates by : Reuven Glick

Download or read book Managing Capital Flows and Exchange Rates written by Reuven Glick and published by Cambridge University Press. This book was released on 1998-06-13 with total page 148 pages. Available in PDF, EPUB and Kindle. Book excerpt: "This is a very timely book that brings the reader to the forefront of current research on macroeconomic policy issues in economies subject to sizable capital flows".--Guillermo A. Calvo, University of Maryland.

Capital Mobility in Asia

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Publisher : Flipside Digital Content Company Inc.
ISBN 13 : 981478608X
Total Pages : 180 pages
Book Rating : 4.8/5 (147 download)

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Book Synopsis Capital Mobility in Asia by : Juthathip Jongwanich

Download or read book Capital Mobility in Asia written by Juthathip Jongwanich and published by Flipside Digital Content Company Inc.. This book was released on 2018-02-14 with total page 180 pages. Available in PDF, EPUB and Kindle. Book excerpt: Ever since the East Asian financial crisis it has been recognized that emerging market economies are vulnerable to both excessive inflows of capital and sudden outflows. This book presents new research on the determinants and effects of capital flows as well as the effectiveness of capital control policies in dealing with volatile capital flows in emerging Asian countries. It examine three issues related to capital movements in Asia: (1) the key factors determining such mobility; (2) the impact of capital movements in a home country, especially on real exchange rates; and (3) the effectiveness of capital account policies.

Proposed Strategy for a Regional Exchange Rate Arrangement in Post-crisis East Asia

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Publisher : World Bank Publications
ISBN 13 :
Total Pages : 52 pages
Book Rating : 4./5 ( download)

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Book Synopsis Proposed Strategy for a Regional Exchange Rate Arrangement in Post-crisis East Asia by : Masahiro Kawai

Download or read book Proposed Strategy for a Regional Exchange Rate Arrangement in Post-crisis East Asia written by Masahiro Kawai and published by World Bank Publications. This book was released on 2000 with total page 52 pages. Available in PDF, EPUB and Kindle. Book excerpt: A coordinated action by East Asian countries to stabilize their currencies against a common basket of major currencies (broadly representative of their average structure of trade and foreign direct investment) would help stabilize both intraregional exchange rates and effective exchange rates, in a way consistent with the medium-term objective of promoting trade investment and growth in the region.

East Asia's Monetary Future

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Publisher : Edward Elgar Publishing
ISBN 13 : 9781845423384
Total Pages : 272 pages
Book Rating : 4.4/5 (233 download)

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Book Synopsis East Asia's Monetary Future by : Suthiphand Chirathivat

Download or read book East Asia's Monetary Future written by Suthiphand Chirathivat and published by Edward Elgar Publishing. This book was released on 2005-01-01 with total page 272 pages. Available in PDF, EPUB and Kindle. Book excerpt: Leading scholars from East Asia, Europe and the US contribute new insights to the key questions facing the organization and future of the monetary system in East Asia. Central questions discussed and analysed in the book include, amongst others: should the region move towards monetary union? Should countries peg their exchange rates to the US dollar? Is complete dollarization an option for East Asia? The authors argue that, having realized price stability over the last twenty years, in contrast to Latin America and Africa, the next logical step would be the gradual formation of various currency blocs within the region. This comprehensive discussion of the fundamental issues at stake will ensure the book's appeal to academics and researchers of Asian studies and financial economics. Financial experts working in this area and policymakers will also find much of interest to them within this book.

Monetary and Financial Cooperation in East Asia

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Publisher : Oxford University Press (UK)
ISBN 13 : 0198714157
Total Pages : 255 pages
Book Rating : 4.1/5 (987 download)

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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 Oxford University Press (UK). This book was released on 2015 with total page 255 pages. Available in PDF, EPUB and Kindle. Book excerpt: This edited volume evaluates the prospects for monetary and financial cooperation in East Asia after the crises in the developed countries (2008 in the US, 2010 in Europe).

Monetary and Currency Policy Management in Asia

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Author :
Publisher : Edward Elgar Publishing
ISBN 13 : 0857933353
Total Pages : 321 pages
Book Rating : 4.8/5 (579 download)

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Book Synopsis Monetary and Currency Policy Management in Asia by : Masahiro Kawai

Download or read book Monetary and Currency Policy Management in Asia written by Masahiro Kawai and published by Edward Elgar Publishing. This book was released on 2012-01-01 with total page 321 pages. Available in PDF, EPUB and Kindle. Book excerpt: Asian economies strengthened their monetary and currency management after the Asian financial crisis of 19971998, and came through the global financial crisis of 20072009 relatively well. Nevertheless, the recent global crisis has presented new challenges. This book develops recommendations for monetary and currency policy in Asian economies aimed at promoting macroeconomic and financial stability in an environment of global economic shocks and volatile capital flows. Monetary and Currency Policy Management in Asia draws lessons from crises and makes concrete macroeconomic policy recommendations aimed at minimizing the impacts of an economic and financial downturn, and setting the stage for an early return to sustainable growth. The focus is on short-term measures related to the cycle. The three main areas addressed are: monetary policy measures, both conventional and unconventional, to achieve both macroeconomic and financial stability; exchange rate policy and foreign exchange reserve management, including the potential for regional cooperation to stabilize currency movements; and ways to ease the constraints on policy resulting from the so-called 'impossible trinity' of fixed exchange rates, open capital accounts and independent monetary policy. This is one of the first books since the global financial crisis to specifically and comprehensively address the implications of the crisis for monetary and currency policy in emerging market economies, especially in Asia. Presenting a broad menu of policy options for financial reform and regulation, the book will be of great interest to finance experts and policymakers in the region as well as academics and researchers of financial and Asian economics as well as economic development.