Exchange Rate Regimes In East Asia

Author : Duck-Koo Chung,Barry Eichengreen
Publisher : Rowman & Littlefield
Page : 176 pages
File Size : 46,7 Mb
Release : 2007-05-01
Category : Business & Economics
ISBN : 9780815714187

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Toward an East Asian Exchange Rate Regime by Duck-Koo Chung,Barry Eichengreen Pdf

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 : Masahiro Kawai,Gordon de Brouwer
Publisher : Routledge
Page : 588 pages
File Size : 55,9 Mb
Release : 2004-08-02
Category : Social Science
ISBN : 9781134351923

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Exchange Rate Regimes in East Asia by Masahiro Kawai,Gordon de Brouwer Pdf

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.

Author : Tony Cavoli,Ramkishen S. Rajan
Publisher : Hong Kong University Press
Page : 249 pages
File Size : 40,5 Mb
Release : 2009-06-01
Category : Business & Economics
ISBN : 9789622090538

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Exchange Rate Regimes and Macroeconomic Management in Asia by Tony Cavoli,Ramkishen S. Rajan Pdf

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 : Mr.Taimur Baig
Publisher : INTERNATIONAL MONETARY FUND
Page : 0 pages
File Size : 48,7 Mb
Release : 2001-10-01
Category : Business & Economics
ISBN : 1451857098

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Characterizing Exchange Rate Regimes in Post-Crisis East Asia by Mr.Taimur Baig Pdf

This paper examines the behavior of the exchange rates of selected emerging market East Asian economies in the aftermath of the Asian crisis. The results suggest that movements in the Asia-5 currencies (Indonesia, Korea, Malaysia, Philippines, and Thailand) were significantly influenced by the U.S. dollar's day-to-day movements before the crisis, and have indeed continued to do so post-crisis. However, comparisons with a range of other currencies suggest that this is a fairly common trait across various regimes. Moreover, results from the post-crisis data do not support the view that the Asia-5 currencies presently have the same characteristics as they did before the crisis.

Author : Paul S. L. Yip
Publisher : World Scientific
Page : 197 pages
File Size : 45,6 Mb
Release : 2008
Category : Business & Economics
ISBN : 9789812834515

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Exchange Rate Systems and Policies in Asia by Paul S. L. Yip Pdf

This important book comprises insightful 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. Originally published in the Singapore Economic Review, Vol. 52, No. 3, 2007, it deals primarily with the exchange rate systems and policies in the three largest economies in Asia: China, Japan and India. It also contains a paper on Singapore''s exchange rate system, whose success could make it a role model for other small open economies. Notable contributors include Ronald McKinnon and John Williamson, among others. The editor is the original designer of China''s latest exchange rate system reform.

Author : Sŭng-yŏng Kwak
Publisher : 대외경제정책연구원
Page : 96 pages
File Size : 51,7 Mb
Release : 2003
Category : East Asia
ISBN : UCSD:31822032963456

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Monetary Cooperation in East Asia by Sŭng-yŏng Kwak Pdf

Author : Masahiro Kawai,Shinji Takagi
Publisher : World Bank Publications
Page : 52 pages
File Size : 42,9 Mb
Release : 2000
Category : Foreign exchange rates
ISBN : 8210379456XXX

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Proposed Strategy for a Regional Exchange Rate Arrangement in Post-crisis East Asia by Masahiro Kawai,Shinji Takagi Pdf

A coordinated action by East Asian countries to stabilize their currencies against a common basket of major currencies (broadly representative of their average structure of trade and foreign direct investment) would help stabilize both intraregional exchange rates and effective exchange rates, in a way consistent with the medium-term objective of promoting trade investment and growth in the region.

Author : John Williamson
Publisher : Peterson Institute
Page : 110 pages
File Size : 43,8 Mb
Release : 2000
Category : Business & Economics
ISBN : 0881322938

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Exchange Rate Regimes for Emerging Markets by John Williamson Pdf

In the aftermath of the Asian/global financial crises of 1997-98, how should emerging markets now structure their exchange rate systems to prevent new crises from occurring? This study challenges current orthodoxy by advocating the revival of intermediate exchange rate regimes. In so doing, Williamson presents a reasoned challenge to the new prevailing attitude which claims that all countries involved in the international capital markets need to polarize to one of the extreme regimes (to a fixed rate with either a currency board or dollarization, or to a lightly-managed float). He concludes that although there is some truth in the allegation that intermediate regimes are vulnerable to speculative crises, they still offer offsetting advantages. He also contends that it would be possible to redesign them to be more flexible so as to reduce their vulnerability to crises.

Author : Yong-hyŏp O,Thomas D. Willett
Publisher : 한국방송출판
Page : 292 pages
File Size : 42,6 Mb
Release : 2004
Category : Finance
ISBN : UCSD:31822035162056

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Monetary and Exchange Rate Arrangement in East Asia by Yong-hyŏp O,Thomas D. Willett Pdf

Author : Ramkishen S. Rajan,Shandre Thangavelu,Rasyad A. Parinduri
Publisher : World Scientific
Page : 325 pages
File Size : 52,8 Mb
Release : 2009
Category : Business & Economics
ISBN : 9789812834584

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Exchange Rate, Monetary and Financial Issues and Policies in Asia by Ramkishen S. Rajan,Shandre Thangavelu,Rasyad A. Parinduri Pdf

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 : Anonim
Publisher : Unknown
Page : 128 pages
File Size : 47,9 Mb
Release : 2024-06-28
Category : Electronic
ISBN : 9789814469975

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Exchange Rate Systems and Policies in Asia by Anonim Pdf

Author : Takatoshi Ito,Anne O. Krueger
Publisher : University of Chicago Press
Page : 466 pages
File Size : 47,6 Mb
Release : 2007-12-01
Category : Business & Economics
ISBN : 9780226386935

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Changes in Exchange Rates in Rapidly Developing Countries by Takatoshi Ito,Anne O. Krueger Pdf

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.

Author : Chang-Jin Kim
Publisher : 대외경제정책연구원
Page : 52 pages
File Size : 54,7 Mb
Release : 2002
Category : East Asia
ISBN : UCSD:31822032180689

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Exchange Rate Regimes and Monetary Independence in East Asia by Chang-Jin Kim Pdf

Author : Anonim
Publisher : World Bank Publications
Page : 72 pages
File Size : 50,8 Mb
Release : 2024-06-28
Category : Electronic
ISBN : 8210379456XXX

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Implicatoins of the Currency Crisis for Exchange Rate Arrangements in Emerging East Asia by Anonim Pdf

Author : Lok Sang Ho,Chi-Wa Yuen
Publisher : Springer Science & Business Media
Page : 258 pages
File Size : 55,5 Mb
Release : 2011-06-28
Category : Business & Economics
ISBN : 9781461510413

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Exchange Rate Regimes and Macroeconomic Stability by Lok Sang Ho,Chi-Wa Yuen Pdf

The Asian crisis of 1997-1998 was a major influence on macroeconomic thinking concerning exchange rate regimes, the functioning of international institutions, such as the IMF and the World Bank, and international contagion of macroeconomic instability from one country to another. Exchange Rate Regimes and Macroeconomic Stability offers perspectives on these issues from the viewpoints of two Nobel Laureates, an IMF economist, and Asian economists. This book contributes new ideas to the ongoing debate on the role of domestic monetary authorities and international institutions in reducing the likelihood of international financial crises, as well as the problems associated with various exchange rate regimes from the standpoint of macroeconomic stability. Overall, the chapters contained in this volume offer interesting perspectives, which have been stimulated by the recent events in the foreign exchange market. They provide a useful reference for anyone interested in the development of exchange rate regimes, and represent considerable reflection by economists half a century after Bretton Woods.