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Author : Qiao Hong
Publisher :
ISBN 13 :
Total Pages : 108 pages
Book Rating : 4.:/5 (318 download)
Download or read book The East Asian Exchange Rate Trap written by Qiao Hong and published by . This book was released on 2005 with total page 108 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Ronald I. McKinnon
Publisher : MIT Press
ISBN 13 : 9780262134514
Total Pages : 300 pages
Book Rating : 4.1/5 (345 download)
Download or read book Exchange Rates Under the East Asian Dollar Standard written by Ronald I. McKinnon and published by MIT Press. This book was released on 2005 with total page 300 pages. Available in PDF, EPUB and Kindle. Book excerpt: The policy dilemmas inherent in using the US dollar as the key currency for stabilizing exchange rates in East Asia.
Author : Duck-Koo Chung
Publisher : Rowman & Littlefield
ISBN 13 : 0815714181
Total Pages : 176 pages
Book Rating : 4.8/5 (157 download)
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).
Author : C. Randall Henning
Publisher :
ISBN 13 :
Total Pages : 22 pages
Book Rating : 4.:/5 (811 download)
Download or read book Choice and Coercion in East Asian Exchange Rate Regimes written by C. Randall Henning and published by . This book was released on 2012 with total page 22 pages. Available in PDF, EPUB and Kindle. Book excerpt: "This paper examines the exchange rate regimes of East Asian countries since the initial shift by China to a controlled appreciation in July 2005, testing econometrically the weights of key currencies in the implicit baskets that appear to be targeted by East Asian monetary authorities. It finds, first, that four of the larger economies of Southeast Asia have formed a loose but effective 'renminbi bloc' with China, with two other countries participating tentatively since the global financial crisis. Second, the emergence of the renminbi bloc in terms of the exchange rate has been facilitated by the continued dominance of the US dollar as a trade, investment, and reserve currency. Third, exchange rate stabilization is explained by the economic strategies of these countries, which rely heavily on export development and financial repression, and the economic rise of China. Fourth, analysts should specify the exchange rate preferences of these emerging market countries carefully before drawing inferences about Chinese influence within the region."--Abstract.
Author : Masahiro Kawai
Publisher : Routledge
ISBN 13 : 1134351925
Total Pages : 588 pages
Book Rating : 4.1/5 (343 download)
Download or read book Exchange Rate Regimes in East Asia written by Masahiro Kawai and published by Routledge. This book was released on 2004-08-02 with total page 588 pages. Available in PDF, EPUB and Kindle. Book excerpt: There is a deepening debate in East Asia about the prospects for common exchange rate arrangements, even including the formation of a common currency in the longer term. This raises a complex set of issues and this volume provides a detailed yet comprehensive examination of key issues in the debate. It looks, for example, at the nature and extent of linkages in East Asia, in terms of trade and foreign investment, finance, labour, and consumption, investment and output. It examines how the exchange rate affects various aspects of economies. And it critically analyzes various proposals for currency regimes for the region, including floating exchange rates, basket pegs, and currency union.
Author : Joseph Dennis Alba
Publisher :
ISBN 13 :
Total Pages : 44 pages
Book Rating : 4.:/5 (1 download)
Download or read book An Empirical Analysis of East Asia's Pre-crisis Daily Exchange Rates written by Joseph Dennis Alba and published by . This book was released on 2007 with total page 44 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Reuven Glick
Publisher :
ISBN 13 :
Total Pages : 3 pages
Book Rating : 4.:/5 (318 download)
Download or read book Is Pegging the Exchange Rate a Cure for Inflation? written by Reuven Glick and published by . This book was released on 1995 with total page 3 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Paul Sau-Leung Yip
Publisher : World Scientific
ISBN 13 : 9812834508
Total Pages : 197 pages
Book Rating : 4.8/5 (128 download)
Download or read book Exchange Rate Systems and Policies in Asia written by Paul Sau-Leung Yip and published by World Scientific. This book was released on 2008 with total page 197 pages. Available in PDF, EPUB and Kindle. Book excerpt: Contains papers on lessons learned from some major exchange rate and monetary experiences in Asia, exchange rate crisis management in Asia and choice of exchange rate systems in Asia. This book deals primarily with the exchange rate systems and policies in the three largest economies in Asia: China, Japan and India.
Author : Reuven Glick
Publisher :
ISBN 13 :
Total Pages : 44 pages
Book Rating : 4.:/5 (318 download)
Download or read book Is Pegging the Exchange Rate a Cure for Inflation? written by Reuven Glick and published by . This book was released on 1995 with total page 44 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Chih-Cheng Meng
Publisher : LAP Lambert Academic Publishing
ISBN 13 : 9783659312663
Total Pages : 300 pages
Book Rating : 4.3/5 (126 download)
Download or read book Governing Currency and Political Choice written by Chih-Cheng Meng and published by LAP Lambert Academic Publishing. This book was released on 2013 with total page 300 pages. Available in PDF, EPUB and Kindle. Book excerpt: How do catch-up East Asian countries cultivate their exchange rate (ER) policies in a different trajectory than advanced economies often cited in current literature? The decisions of ER policy are by all means political choices for the transitional polities and the trade-driving economies in East Asia. The book proposes an integrated framework to contend that the domestic distributional politics and economic determinants, as well as the international monetary relations, and regional market force and adaptive policy diffusion are crucial factors that influence and interact with ER policy in East Asia. The statistical findings successfully verify that the theoretical variables interact significantly with ER policy decisions in East Asia. The statistics also demonstrate that most East Asian countries tend to strategically withstand influences from the various waves of capital liberalization and keep their currencies at low values. In a general testing, however, domestic pursuits for preferred interests gradually yield to the persistent influences of international and regional forces on ER policy making in East Asia.
Author : Shinji Takagi
Publisher : International Monetary Fund
ISBN 13 : 1451845006
Total Pages : 21 pages
Book Rating : 4.4/5 (518 download)
Download or read book Exchange Rate Movements and Tradable Goods Prices in East Asia written by Shinji Takagi and published by International Monetary Fund. This book was released on 1999-03-01 with total page 21 pages. Available in PDF, EPUB and Kindle. Book excerpt: The paper uses a dynamic panel data model to estimate the pass-through coefficients of 20 nine-digit industrial commodities that are traded between Japan and its East Asian trading partners to investigate the response of tradable goods prices to exchange rate movements. By using the monthly series of unit export and import values obtained from the Japanese customs data for the period 1988-98, it shows that price pass-through is much larger for exports from Japan than for imports to Japan.
Author : Masahiro Kawai
Publisher :
ISBN 13 :
Total Pages : 47 pages
Book Rating : 4.:/5 (129 download)
Download or read book Proposed Strategy for a Regional Exchange Rate Arrangement in Post-Crisis East Asia written by Masahiro Kawai and published by . This book was released on 2016 with total page 47 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 intra-regional exchange rates and effective exchange rates - in a way consistent with the medium-term objective of promoting trade, investment, and growth in the region. After discussing major conceptual and empirical issues relevant to the exchange rate policies of East Asian countries, Kawai and Takagi propose a regional exchange rate arrangement designed to promote intraregional exchange rate stability and regional economic growth. They argue that:For developing countries, exchange rate volatility tends to significantly hurt trade and investment, making it inadvisable to adopt a system of freely floating exchange rates.Given the high share of intraregional trade and the similarity of trade composition in East Asia, exchange rate policy should be directed toward maintaining intraregional exchange rate stability, to promote trade, investment, and economic growth.The current policy of maintaining exchange rate stability against the U.S. dollar as an informal, uncoordinated mechanism for ensuring intraregional exchange rate stability is suboptimal. A pragmatic policy option - conducive to a more robust framework for cooperation in monetary and exchange rate policy - would be a coordinated action to shift the target of nominal exchange rate stability to a basket of tripolar currencies (the U.S. dollar, the Japanese yen, and the euro). This alternative would better reflect the region's diverse structure of trade and foreign direct investment.The authors envision no rigid peg. Instead, at least initially, each country could choose its own formal exchange rate arrangement - be it a currency board, a crawling peg, or a basket peg with wide margins. At times of crisis, the peg might be temporarily suspended, subject to the rule that the exchange rate would be restored to the original level as soon as practical. Only in extreme circumstances would the level be adjusted to reflect new equilibrium conditions.This paper - a product of the Office of the Chief Economist, East Asia and Pacific Region - is part of a larger effort in the region to study financial market development, capital flows, and exchange rate arrangements in East Asia.
Author : Masahiro Kawai
Publisher : World Bank Publications
ISBN 13 :
Total Pages : 52 pages
Book Rating : 4./5 ( download)
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.
Author : Menzie David Chinn
Publisher :
ISBN 13 :
Total Pages : 3 pages
Book Rating : 4.:/5 (318 download)
Download or read book Long-run Determinants of East Asian Real Exchange Rates written by Menzie David Chinn and published by . This book was released on 1998 with total page 3 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Mr.Taimur Baig
Publisher : INTERNATIONAL MONETARY FUND
ISBN 13 : 9781451857092
Total Pages : 0 pages
Book Rating : 4.8/5 (57 download)
Download or read book Characterizing Exchange Rate Regimes in Post-Crisis East Asia written by Mr.Taimur Baig and published by INTERNATIONAL MONETARY FUND. This book was released on 2001-10-01 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper examines the behavior of the exchange rates of selected emerging market East Asian economies in the aftermath of the Asian crisis. The results suggest that movements in the Asia-5 currencies (Indonesia, Korea, Malaysia, Philippines, and Thailand) were significantly influenced by the U.S. dollar's day-to-day movements before the crisis, and have indeed continued to do so post-crisis. However, comparisons with a range of other currencies suggest that this is a fairly common trait across various regimes. Moreover, results from the post-crisis data do not support the view that the Asia-5 currencies presently have the same characteristics as they did before the crisis.
Author : Sŭng-yŏng Kwak
Publisher : 대외경제정책연구원
ISBN 13 :
Total Pages : 96 pages
Book Rating : 4.:/5 (318 download)
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:
Author : Gunther Schnabl
Publisher :
ISBN 13 :
Total Pages : 33 pages
Book Rating : 4.:/5 (13 download)
Download or read book (De)Stabilizing Exchange Rate Strategies in East Asian Monetary and Economic Integration written by Gunther Schnabl and published by . This book was released on 2014 with total page 33 pages. Available in PDF, EPUB and Kindle. Book excerpt: The East Asian monetary integration process is at the crossroads. Given very benign liquidity conditions in the US, the prevailing common US dollar peg has contributed to growing macroeconomic and financial instability in the region. This has sparked demands to embark on an independent monetary integration process in East Asia. The paper shows that, however, neither the Japanese yen nor the Chinese yuan can challenge the US dollar as anchor currency in the region. Large fluctuations of the Japanese yen against the US dollar have undermined the potential of the Japanese yen to become a regional anchor currency. Exchange rate stability of the Chinese yuan against the US dollar has enhanced intra-regional exchange rate stability and growth, stressing the potential of the Chinese yuan to emerge as a regional anchor currency. Yet, it is shown that underdeveloped Chinese capital markets and financial repression originating in US low interest rate policies constitute an insurmountable impediment for the Chinese yuan to gain anchor currency status in East Asia. Empirical estimations provide evidence in favour of positive growth effects of the exchange rate stability against the US dollar in East Asia.
