Exchange Rate, Monetary And Financial Issues And Policies In AsiaRamkishen S Rajan, Shandre M Thangavelu, Rasyad A Parinduri A decade has passed since the Asian crisis of 1997-1998 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. |
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AMU Deviation Indicators appreciation ASEAN plus Three Asia’s Asian economies average bank’s billion business cycle capital flows central bank changes chapter China Chinese coherence coordination cost crises cross-predicted values currency basket demand for international developing economies domestic East Asia East Asian countries East Asian currencies effects Eichengreen emerging markets estimates euro exchange rate policies exchange rate regimes facto financial crisis financial markets fiscal flexibility foreign assets foreign exchange foreign exchange market foreign reserves holdings of international Hong Kong important India Indonesia inflation targeting inflows institutions interest rates intermediate international reserves intervention investment Japan Japanese yen Journal Korea Latin American economies macroeconomic Malaysia managed floating measure monetary authorities monetary integration monetary policy Ogawa Paper percent of GDP Philippines portfolio Post-Crisis Pre-crisis price stability Rajan renminbi reserve accumulation Singapore Singapore dollar sterilization Table Taiwan Thailand trade U.S. dollar volatility