Exchange Rates Under The East Asian Dollar Standard
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Exchange Rates Under The East Asian Dollar Standard
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Author : Ronald I. McKinnon
language : en
Publisher: MIT Press
Release Date : 2005
Exchange Rates Under The East Asian Dollar Standard written by Ronald I. McKinnon and has been published by MIT Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2005 with Business & Economics categories.
The policy dilemmas inherent in using the US dollar as the key currency for stabilizing exchange rates in East Asia.
The Unloved Dollar Standard
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Author : Ronald I. McKinnon
language : en
Publisher: Oxford University Press
Release Date : 2013
The Unloved Dollar Standard written by Ronald I. McKinnon and has been published by Oxford University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013 with Business & Economics categories.
Th world dollar standard greatly facilitates international exchange. Since the Bretton Woods Agreement of 1945, the dollar has been the key currency for clearing international payments among banks, including government interventions to set exchange rates. IT is the dominant currency for invoicing trade in primary commodities and official exchange reserves.
Currency Cooperation In East Asia
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Author : Frank Rövekamp
language : en
Publisher: Springer
Release Date : 2014-07-08
Currency Cooperation In East Asia written by Frank Rövekamp and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014-07-08 with Business & Economics categories.
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.
Toward An East Asian Exchange Rate Regime
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Author : Duck-Koo Chung
language : en
Publisher: Rowman & Littlefield
Release Date : 2007-05-01
Toward An East Asian Exchange Rate Regime written by Duck-Koo Chung and has been published by Rowman & Littlefield this book supported file pdf, txt, epub, kindle and other format this book has been release on 2007-05-01 with Business & Economics categories.
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).
Exchange Rate Regimes In East Asia
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Author : Masahiro Kawai
language : en
Publisher: Routledge
Release Date : 2004-08-02
Exchange Rate Regimes In East Asia written by Masahiro Kawai and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2004-08-02 with Social Science categories.
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.
Exchange Rate Monetary And Financial Issues And Policies In Asia
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Author : Ramkishen S. Rajan
language : en
Publisher: World Scientific
Release Date : 2009
Exchange Rate Monetary And Financial Issues And Policies In Asia written by Ramkishen S. Rajan and has been published by World Scientific this book supported file pdf, txt, epub, kindle and other format this book has been release on 2009 with Business & Economics categories.
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.
East Asia S Monetary Future
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Author : Suthiphand Chirathivat
language : en
Publisher: Edward Elgar Publishing
Release Date : 2004
East Asia S Monetary Future written by Suthiphand Chirathivat and has been published by Edward Elgar Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2004 with Business & Economics categories.
East Asia's Monetary Future is an illuminating and valuable work which uniquely focuses on a long-term monetary view of the region. There are multiple and varied future scenarios which can be applied to this region - an enlarged Singapore-Brunei currency area, a greater China monetary bloc and even a Northeast Asian bloc comprising Japan and Korea. Leading scholars from East Asia, Europe and the US contribute valuable 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.
Exchange Rate Risk Management
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Author : George Allayannis
language : en
Publisher: World Bank Publications
Release Date : 2001
Exchange Rate Risk Management written by George Allayannis and has been published by World Bank Publications this book supported file pdf, txt, epub, kindle and other format this book has been release on 2001 with Debts, External categories.
In a large sample of East Asian nonfinancial corporations, firms using foreign currency derivatives had distinctive characteristics, such as larger size and foreign debt exposures. Unlike in studies of U.S. firms, there was only weak evidence that liquidity-constrained firms with greater growth opportunities hedged more. Firms appeared to use foreign earnings as a substitute for hedging with derivatives, and to engage in "selective" hedging. There was no evidence that East Asian firms eliminated their foreign exchange exposure by using derivatives. And firms using derivatives before the crisis performed just as poorly as nonhedgers during the crisis.
Changes In Exchange Rates In Rapidly Developing Countries
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Author : Takatoshi Ito
language : en
Publisher: University of Chicago Press
Release Date : 2007-12-01
Changes In Exchange Rates In Rapidly Developing Countries written by Takatoshi Ito and has been published by University of Chicago Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2007-12-01 with Business & Economics categories.
The exchange rate is a crucial variable linking a nation's domestic economy to the international market. Thus choice of an exchange rate regime is a central component in the economic policy of developing countries and a key factor affecting economic growth. Historically, most developing nations have employed strict exchange rate controls and heavy protection of domestic industry-policies now thought to be at odds with sustainable and desirable rates of economic growth. By contrast, many East Asian nations maintained exchange rate regimes designed to achieve an attractive climate for exports and an "outer-oriented" development strategy. The result has been rapid and consistent economic growth over the past few decades. Changes in Exchange Rates in Rapidly Developing Countries explores the impact of such diverse exchange control regimes in both historical and regional contexts, focusing particular attention on East Asia. This comprehensive, carefully researched volume will surely become a standard reference for scholars and policymakers.
Monetary And Exchange Rate Arrangement In East Asia
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Author : Yong-hyŏp O
language : en
Publisher: 한국방송출판
Release Date : 2004
Monetary And Exchange Rate Arrangement In East Asia written by Yong-hyŏp O and has been published by 한국방송출판 this book supported file pdf, txt, epub, kindle and other format this book has been release on 2004 with Finance categories.