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

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

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Author : Jagdish Handa
language : en
Publisher: World Scientific
Release Date : 2011-07-29

Studies In East Asian Economies Capital Flows Exchange Rates And Monetary Policy written by Jagdish Handa and has been published by World Scientific this book supported file pdf, txt, epub, kindle and other format this book has been release on 2011-07-29 with Business & Economics categories.

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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Author : Takatoshi Ito
language : en
Publisher: University of Chicago Press
Release Date : 2009-02-15

Macroeconomic Linkage 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 2009-02-15 with Business & Economics categories.

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.

Monetary Policy Implementation In East Asia

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Author : Frank Rövekamp
language : en
Publisher: Springer Nature
Release Date : 2020-09-13

Monetary Policy Implementation In East Asia written by Frank Rövekamp and has been published by Springer Nature this book supported file pdf, txt, epub, kindle and other format this book has been release on 2020-09-13 with Business & Economics categories.

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.

Exchange Rate Regimes And Macroeconomic Management In Asia

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Author : Tony Cavoli
language : en
Publisher: Hong Kong University Press
Release Date : 2009-06-01

Exchange Rate Regimes And Macroeconomic Management In Asia written by Tony Cavoli and has been published by Hong Kong University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2009-06-01 with Business & Economics categories.

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.

Coping With Capital Flows In East Asia

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Author : C. H. Kwan
language : en
Publisher: Institute of Southeast Asian Studies
Release Date : 1998

Coping With Capital Flows In East Asia written by C. H. Kwan and has been published by Institute of Southeast Asian Studies this book supported file pdf, txt, epub, kindle and other format this book has been release on 1998 with Business & Economics categories.

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.

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.

Exchange Rates Currency Crisis And Monetary Cooperation In Asia

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Author : R. Rajan
language : en
Publisher: Springer
Release Date : 2009-03-26

Exchange Rates Currency Crisis And Monetary Cooperation In Asia written by R. Rajan and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 2009-03-26 with Business & Economics categories.

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 : Suiwah Leung
language : en
Publisher: Australian National University, Research School of Social Sciences
Release Date : 1996

Capital Flows Monetary Policy And Exchange Rates In The Asian Region written by Suiwah Leung and has been published by Australian National University, Research School of Social Sciences this book supported file pdf, txt, epub, kindle and other format this book has been release on 1996 with Capital movements categories.

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.

Capital Mobility In Asia

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Author : Juthathip Jongwanich
language : en
Publisher: Flipside Digital Content Company Inc.
Release Date : 2018-02-14

Capital Mobility In Asia written by Juthathip Jongwanich 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 2018-02-14 with Business & Economics categories.

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.

Fostering Monetary And Financial Cooperation In East Asia

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Author : Barry Eichengreen
language : en
Publisher: World Scientific
Release Date : 2009-04-29

Fostering Monetary And Financial Cooperation In East Asia written by Barry Eichengreen and has been published by World Scientific this book supported file pdf, txt, epub, kindle and other format this book has been release on 2009-04-29 with Business & Economics categories.

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.