Navigating External Shocks In Southeast Asia S Emerging Markets
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Navigating External Shocks In Southeast Asia S Emerging Markets
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Author : Ms. Corinne C Delechat
language : en
Publisher: International Monetary Fund
Release Date : 2024-09-23
Navigating External Shocks In Southeast Asia S Emerging Markets written by Ms. Corinne C Delechat and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2024-09-23 with Business & Economics categories.
As relatively small open economies, South-East Asian emerging markets (Indonesia, Malaysia, Philippines and Thailand or ASEAN-4) are highly susceptible to external shocks—both financial and real—that could induce large capital flows and exchange rate volatility that could lead to foreign exchange market dysfunction. With the exception of Bank Negara Malaysia, ASEAN-4 central banks mostly have flexible inflation-targeting frameworks for monetary policy implementation. Their main policy objectives include medium-term price stability, sustainable economic growth, and financial stability. Central Banks in ASEAN-4 economies have been early pilots in the operationalization of the IMF’s Integrated Policy Framework (IPF) in 2022-23, given their experience in using multiple policy tools besides the monetary policy rate, including macroprudential measures, foreign exchange intervention (FXI), and capital flow management measures, to achieve their multiple objectives. They have welcomed the IPF as a systematic, frictions-based approach to analyze the use of these multiple tools to manage trade-offs across policy objectives. This paper takes stock of the experience from these pilots, both from the perspective of country authorities and of IMF country teams. It aims at distilling key lessons, which could be used to inform broader IPF operationalization. The IPF conceptual framework and a related quantitative model were used to assess policy trade-offs in ASEAN-4 in the event of adverse external shocks. These applications reaffirmed the importance of using monetary policy to address persistent inflationary pressures stemming from real shocks and allowing the exchange rate to act as a shock absorber. However, a complementary use of FXI could improve trade-offs between price, financial, and output stability when economies are faced with large and financial shocks that result in abrupt spikes in uncovered interest rate parity premia resulting in inefficiently tight financial conditions that could hurt growth or risking to de-anchor inflation expectations. The IPF pilots also highlighted some challenges faced when operationalizing IPF principles, notably regarding the assessment of frictions and shocks that might justify the use of FXI. In particular, country teams at times lacked sufficient information to adequately assess the extent of frictions. Moreover, the time-varying nature of IPF frictions and the non-linear effects of shocks make it difficult to assess situations when benefits of a complementary use of FXI would overweigh its costs.
Thailand
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Author : International Monetary
language : en
Publisher: International Monetary Fund
Release Date : 2025-02-20
Thailand written by International Monetary and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2025-02-20 with Business & Economics categories.
Thailand's cyclical recovery is underway, though it has yet to become broad-based. Growth is projected to accelerate moderately, reaching 2.7 percent in 2024 and 2.9 percent in 2025, supported by the rebound of tourism-related activities and fiscal stimulus. The slow recovery, weaker than in ASEAN peers, is rooted in Thailand's longstanding structural weaknesses and emerging headwinds that also contribute to a muted inflation trajectory. Significant uncertainty in the external environment and downside risks cloud the outlook.
Southeast Asia In Pre And Post Covid 19
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Author : AKM Ahsan Ullah
language : en
Publisher: Taylor & Francis
Release Date : 2024-08-30
Southeast Asia In Pre And Post Covid 19 written by AKM Ahsan Ullah and has been published by Taylor & Francis this book supported file pdf, txt, epub, kindle and other format this book has been release on 2024-08-30 with Social Science categories.
Ullah, Chin, and Hassan provide a comprehensive examination of the transformative impact of the COVID-19 pandemic on Southeast Asia, examining its effects on the region’s economy, social dynamics, mobility patterns and religious practices. The book examines the profound changes and challenges that the region faced, offering insights into both the immediate responses and the long-term adjustments in these key aspects of Southeast Asian life. An in-depth analysis with a comprehensive and up-to-date perspective on the region’s postpandemic landscape offers informed insights into the diverse challenges and opportunities facing Southeast Asia in a rapidly changing world. This book is an essential reading for academics, researchers and policymakers seeking to gain a nuanced understanding of Southeast Asia’s response to the pandemic COVID-19.
State On Board
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Author : Nga Pham
language : en
Publisher: Springer Nature
Release Date : 2021-09-01
State On Board written by Nga Pham and has been published by Springer Nature this book supported file pdf, txt, epub, kindle and other format this book has been release on 2021-09-01 with Political Science categories.
Research in this book focuses on the strategic behaviour of the State as a shareholder in businesses, and the implications it has for the other shareholder(s) and business performance. It investigates the institutional characteristics of State-linked and State-owned firms (SIEs & SOEs), in emerging markets using Vietnam as a case study with comparative analysis on China and selected ASEAN countries. In doing so, the book adopts an evidence-based approach to explain the State’s role as a shareholder in the different aspects of corporate governance, including CEO appointment, board structure and impact of State ownership on business strategy and performance. It highlights the influence of the State as a shareholder by investigating institutional factors consistent with “path dependence” theory, which postulates that the initial and underlying structure of an economy influences its performance. In addition, the book presents empirical evidence of the dynamics of corporate governance arising from interactions between the State and other shareholders, which has not yet been addressed in the literature, and is distinctive in providing new insights from both qualitative and empirical research on how to successfully navigate the emerging market business environments from the perspective of the State as an “owner-participant”. Explaining the theoretical constructs in corporate governance in State-invested firms, empirical research methodologies, and results to draw and validate inferences, the book is comprehensive and provides a practical guide for practitioners as well as a reference for academics, undergraduate and postgraduate students. The new theoretical models proposed integrate traditional political-economic and agency theories, which also underpin tertiary business courses and academic research.
Regional Economic Outlook April 2015 Sub Saharan Africa
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Author : International Monetary Fund. African Dept.
language : en
Publisher: International Monetary Fund
Release Date : 2015-04-28
Regional Economic Outlook April 2015 Sub Saharan Africa written by International Monetary Fund. African Dept. and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015-04-28 with Social Science categories.
The sharp decline in oil and other commodity prices have adversely impacted sub-Saharan Africa. Nevertheless, the region is projected to register another year of solid economic performance. In South Africa, however, growth is expected to remain lackluster, while in Guinea, Liberia, and Sierra Leone the Ebola outbreak continues to exact a heavy economic and social toll. This report also considers how sub-Saharan Africa can harness the demographic dividend from an unprecedented increase in the working age population, as well as the strength of the region's integration into global value chains.
Asean And Global Value Chains Locking In Resilience And Sustainability
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Author : Asian Development Bank
language : en
Publisher: Asian Development Bank
Release Date : 2023-03-01
Asean And Global Value Chains Locking In Resilience And Sustainability written by Asian Development Bank and has been published by Asian Development Bank this book supported file pdf, txt, epub, kindle and other format this book has been release on 2023-03-01 with Business & Economics categories.
Analyzing how the role of ASEAN economies in global value chains has helped spur their recovery and cut poverty, this publication shows the need to future-proof these critical networks to ensure inclusive, sustainable, and greener growth. It explains how the expansion of cross-border trade networks has helped Southeast Asian economies bolster manufacturing and spark a wave of job creation and innovation. On the flipside, it considers the associated environmental impact and social inequality. Highlighting systemic shocks to global trade, it explains how economic momentum, stronger institutions, and more inclusive growth can help mitigate risks and build resilient economies.
Global Economic Uncertainties And Southeast Asian Economies
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Author : Suthiphand Chirathivat
language : en
Publisher: Flipside Digital Content Company Inc.
Release Date : 2016-05-13
Global Economic Uncertainties And Southeast Asian Economies written by Suthiphand Chirathivat and has been published by Flipside Digital Content Company Inc. this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016-05-13 with Business & Economics categories.
The aftermath of the global economic breakdown in 2008-9 underscores the risks facing Southeast Asia's growth prospects. Although the region has demonstrated exceptional resilience to external shocks emanating from economic powerhouses around the globe, Southeast Asia is in dire need of an optimal policy mix of macroeconomic and trade policy measures that differ by country, underpin domestic demand, and revive domestic economies. This book offers in-depth, region-specific economic policy discourse that illuminates how a policy push is at work in the region, and sheds light on room for strengthening regional cooperation.This book aims to: (1) discuss the developments of macroeconomic and trade-policy mix against the backdrop of the eurozone sovereign debt crisis and economic prospects for major countries in Southeast Asia (i.e., Singapore, Thailand, Malaysia, Indonesia, and Vietnam); (2) assess the effectiveness of policy responses to the global economic unrest; (3) identify opportunities and challenges facing Southeast Asia in the midst of the global economic slump when developing Southeast Asia leverages on an ever-expanding role in the global business environment; (4) rethink the East Asian model of growth where enormous gains were driven principally by export demands from advanced economies; and (5) pioneer the key areas of regional cooperation and macroeconomic and trade policy reforms that may potentially strengthen regional economies.
Envisioning 2060
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Author : Harinder Kohli
language : en
Publisher: Penguin Random House India Private Limited
Release Date : 2022-05-25
Envisioning 2060 written by Harinder Kohli and has been published by Penguin Random House India Private Limited this book supported file pdf, txt, epub, kindle and other format this book has been release on 2022-05-25 with Business & Economics categories.
Envisioning 2060 is a collection of articles by some of the world's greatest economists and authors. Its carefully planned chapters encompass all major aspects of the evolving global economy-with a particular emphasis on emerging markets and economies-painting a wholesome picture for the contemporary reader, of what our world might grow to look like in the next forty years if we succeed or fail at addressing the myriad challenges confronting us today.
East Asia And Pacific Economic Update April 2014
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Author : World Bank World Bank
language : en
Publisher: World Bank Publications
Release Date : 2014-05-13
East Asia And Pacific Economic Update April 2014 written by World Bank World Bank 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 2014-05-13 with Business & Economics categories.
Developing countries in the East Asia Pacific region will see stable economic growth this year, bolstered by a recovery in high-income economies and the market’s modest response so far to the Federal Reserve’s tapering of its quantitative easing, according to the East Asia Pacific Economic Update. Developing East Asia will grow by 7.1 percent this year, largely unchanged from 2013, the report says. As a result, East Asia remains the fastest growing region in the world, despite a slowdown from the average growth rate of 8.0 percent from 2009 to 2013. In China, growth will ease slightly, to 7.6 percent this year from 7.7 percent in 2013. Excluding China, the developing countries in the region will grow by 5.0 percent, slightly down from 5.2 percent last year.
Navigating Socialist Encounters
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Author : Eric Burton
language : en
Publisher: Walter de Gruyter GmbH & Co KG
Release Date : 2021-06-08
Navigating Socialist Encounters written by Eric Burton and has been published by Walter de Gruyter GmbH & Co KG this book supported file pdf, txt, epub, kindle and other format this book has been release on 2021-06-08 with History categories.
This edited volume firmly places African history into global history by highlighting connections between African and East German actors and institutions during the Cold War. With a special focus on negotiations and African influences on East Germany (and vice versa), the volume sheds light on personal and institutional agency, cultural cross-fertilization, migration, development, and solidarity.