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Author : Southeast Asia Development Advisory Group
Publisher : Lexington, Mass : Lexington Books
Page : 146 pages
File Size : 51,8 Mb
Release : 1973
Category : Business & Economics
ISBN : UOM:39015035119869
Author : Aleth Yenko
Publisher : Institute of Southeast Asian
Page : 46 pages
File Size : 51,5 Mb
Release : 1982
Category : Foreign exchange
ISBN : 9789971902346
A theoretical framework, based on existing literature, which could serve as a guide for developing countries in choosing an appropriate exchange rate regime in the present system of generalized floating. The exchange rate regimes of the ASEAN countries are then evaluated in terms of the framework.
Author : Herbert G. Grubel (editorMorgan, Theodore, editor)
Publisher : Unknown
Page : 0 pages
File Size : 54,7 Mb
Release : 1973
Category : Electronic
ISBN : OCLC:1331023039
Author : Duck-Koo Chung,Barry Eichengreen
Publisher : Rowman & Littlefield
Page : 176 pages
File Size : 49,5 Mb
Release : 2007-05-01
Category : Business & Economics
ISBN : 9780815714187
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 : Pradumna B. Rana
Publisher : Institute of Southeast Asian Studies
Page : 129 pages
File Size : 51,8 Mb
Release : 1981
Category : ASEAN
ISBN : 9789971902360
This book examines the experience of the ASEAN countries in the post-Bretton Woods era - the period of generalized currency float. It outlines the major developments in the exchange rate policies of the ASEAN countries in the 1970s and analyses the movements of the effective exchange rates (both in terms of the trend and short-run variability) and their sources. The study shows that the increased exchange rate risk (variaibility) experienced by the ASEAN countries during the generalized floating period has had an anti-trade bias - reduced volume of imports. On the export side, simulations of world trade models for various commodities are carried out, and these indicate that multilateral changes in real exchange rates in the present international monetary system had adversely affected the major primary exports of the ASEAN countries. In the final chapter, the policy implications of the major findings are discussed.
Author : Tony Cavoli,Ramkishen S. Rajan
Publisher : Hong Kong University Press
Page : 249 pages
File Size : 43,5 Mb
Release : 2009-06-01
Category : Business & Economics
ISBN : 9789622090538
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.
Author : Ramkishen S. Rajan,Shandre Thangavelu,Rasyad A. Parinduri
Publisher : World Scientific
Page : 325 pages
File Size : 40,5 Mb
Release : 2009
Category : Business & Economics
ISBN : 9789812834584
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.
Author : Paul Sau-Leung Yip
Publisher : World Scientific
Page : 197 pages
File Size : 48,6 Mb
Release : 2008
Category : Business & Economics
ISBN : 9789812834508
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 : Manuel F. Montes
Publisher : Institute of Southeast Asian Studies
Page : 108 pages
File Size : 43,6 Mb
Release : 1998
Category : Business & Economics
ISBN : 9812300147
The deep currency crisis which erupted in the beginning of July 1997 among the rapidly growing economies of Southeast Asia raises the question: "Have the rapid rates of growth in the late 1980s and early 1990s mortgaged the economic futures of these economies?" This book examines the economic bases for the crisis and characterizes the nature of the policy weaknesses that led to the crisis. Drawing on the specific features of the crises in Thailand, Korea, and Indonesia and the pattern of contagion in the region, this Updated Edition suggests a list of global policy lessons that can be distilled from Asia's crisis.
Author : Augustine H. H. Tan
Publisher : World Scientific
Page : 379 pages
File Size : 51,7 Mb
Release : 2002
Category : Business & Economics
ISBN : 9789812776709
This book contains papers selected from the 25th Federation of ASEAN Economic Associations Annual Meeting, hosted by the Economic Society of Singapore on 7OCo8 September 2000, in Singapore. East and Southeast Asia had just emerged from the devastation of the Asian currency crisis of 1997OCo8. The theme of the conference was chosen to enable participants to examine macroeconomic policies, particularly fiscal, monetary and exchange rate policies that would enable their countries to sustain economic growth without the trauma of financial and currency crises. Prominent economists Ronald McKinnon (Stanford University) and John Williamson (Institute for International Economics) presented four papers about alternative exchange rate regimes. Representative papers from five countries, viz. Indonesia, Malaysia, South Korea, the Philippines and Singapore, are also included in the volume."
Author : Mr.Ungku Abdul Aziz
Publisher : International Monetary Fund
Page : 216 pages
File Size : 55,6 Mb
Release : 1990-03-15
Category : Business & Economics
ISBN : 1557751471
This collection of papers delivered at a seminar, moderated by Ungku A. Aziz, in Kuala Lumpur addresses issues of economic and structural adjustment and trade and exchange rate policies in Southeast Asia.
Author : Mr.Vladimir Klyuev,To-Nhu Dao
Publisher : International Monetary Fund
Page : 34 pages
File Size : 46,8 Mb
Release : 2016-08-08
Category : Business & Economics
ISBN : 9781475523867
This paper examines exchange rate behavior in the ASEAN-5 countries (Indonesia, Malaysia, the Philippines, Singapore, and Thailand). It finds that for the last 10 years there is no evidence that their central banks target particular exchange rate levels against any currency or basket. Thus, contrary to some assertions, they do not belong to a U.S. dollar club, a Japanese yen club, a Chinese renminbi club, or an ASEAN club. At the same time, they clearly try to smooth short-term volatility, particularly vis-à-vis the U.S. dollar. The degree of smoothing declined noticeably after the Asian Financial Crisis and less obviously after the Global Financial Crisis, with heterogeneity across countries. Short-term smoothing without level targeting does not interfere with monetary policies aimed at price stability.
Author : Mr.Tamim Bayoumi,Mr.Paolo Mauro
Publisher : International Monetary Fund
Page : 25 pages
File Size : 45,9 Mb
Release : 1999-12-01
Category : Business & Economics
ISBN : 9781451857856
This paper examines the costs, benefits, preconditions, and implications of an Association of Southeast Asian Nations (ASEAN) regional currency arrangement that is assumed to culminate in a regional currency. On economic criteria, ASEAN appears less suited for a regional currency arrangement than Europe before the Maastricht Treaty, although the difference is not large. The transition to European Monetary Union (EMU) indicates that the path toward a common currency is fraught with difficulty. A firm political commitment would seem to be vital to ensuring that an attempt to form a regional currency arrangement is not viewed as simply another fixed exchange rate regime, open to speculative crises.
Author : Stefan Collignon,Yung Chul Park,Jean Pisani-Ferry
Publisher : Routledge
Page : 432 pages
File Size : 42,9 Mb
Release : 2003-09-02
Category : Business & Economics
ISBN : 9781134683802
The future emergence of a European monetary zone is set to transform the configuration of the international monetary system and the roles of the dollar, the Euro and the yen within this system. This book addresses this issue with discussion of: * exchange rate policies pursued in the principal Asian countries * the measurement of equilibrium exchange rates for these countries * the maintenance of the dollar peg by Asian currencies * the absence of a trend to monetary regionalism based on the yen * the outlook of regional monetary co-operation * the outlook of regional monetary co-operation Case studies pay particular attention to Korea, Taiwan, Singapore and Thailand.
Author : International Monetary Fund. Asia and Pacific Dept
Publisher : International Monetary Fund
Page : 58 pages
File Size : 55,9 Mb
Release : 2016-06-30
Category : Business & Economics
ISBN : 9781498308748
This paper examines the evolution of monetary policy frameworks of the Association of Southeast Asian Nations (ASEAN)-5 economies, with particular focus on changes since the Asian financial crisis and the more recent period of unconventional monetary policies in advanced economies. Monetary policy frameworks of the ASEAN-5 economies have on the whole performed well since the crisis, delivering both price and financial stability during a period of significant domestic and regional transformation and global macroeconomic and financial turmoil. Not surprisingly, therefore, successful outcomes in most cases entailed significant changes to operating frameworks and refinement of policy objectives.