Download or read book East Asian Capital Flow and World Financial Stability written by Michael Hutchison and published by . This book was released on 2004 with total page 38 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book East Asian Capital Flow and World Financial Stability written by Michael M. Hutchison and published by Centre for International Business Studies, University of Alberta. This book was released on 2004 with total page 39 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book East Asia s Financial Systems written by Seiichi Masuyama and published by Institute of Southeast Asian Studies. This book was released on 1999 with total page 392 pages. Available in PDF, EPUB and Kindle. Book excerpt: Financial systems in the East Asian region are commanding worldwide attention. Japan's financial sector, with an ailing banking system in the aftermath of a bubble economy, is undergoing a "Big Bang" deregulation, liberalization, and securitization. At the same time, the rehabilitation of Southeast Asian and Korean economies in the wake of the Asian financial crisis awaits restoration of their banking sectors. The region's bank-dominated and development finance-oriented financial systems are coming into friction with global capital markets that lack adequate architecture. In this volume, researchers from ten East Asian think- tanks analyse the financial systems in their respective economies. They survey the financial sector deregulation and liberalization that took place in the midst of economic booms and they evaluate the role of the financial systems in the region's current economic misfortunes. Together, the pieces in this volume lay the groundwork for understanding how financial systems in East Asia have evolved as the economies have grown more complex and capital markets have globalized, and how these systems must adapt to move beyond today's crisis to serve the region's economies in the future.

Download or read book Achieving Financial Stability in Asia written by Asian Development Bank and published by OECD Publishing. This book was released on 2000 with total page 180 pages. Available in PDF, EPUB and Kindle. Book excerpt: Achieving Financial Stability in Asia sets out to identify the elements which could restore confidence to the countries of the region and stabilise financial flows on a global basis. Thus, measures must be taken which include improving public and ...

Download or read book Surging Capital Flows to Emerging Asia written by Mr.Ravi Balakrishnan and published by International Monetary Fund. This book was released on 2012-05-01 with total page 50 pages. Available in PDF, EPUB and Kindle. Book excerpt: Net capital flows to emerging Asia rebounded at a record pace following the global financial crisis, raising concerns about overheating and financial stability. This paper documents the size and composition of the most recent surge to Asian emerging markets from a historical perspective and compares developments in the broader economy, asset prices, and corporate variables across the different episodes of strong inflows. We find little evidence of a significant build-up of imbalances and resource misallocation during the most recent surge. We also review country experiences in managing the risks associated with inflows and argue that Asian countries have used regulatory measures during past surges, although there is not strong evidence of their efficacy without supporting monetary and fiscal policies.

Download or read book The Global Financial Crisis and Asia written by Masahiro Kawai and published by OUP Oxford. This book was released on 2012-10-25 with total page 343 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book aims to identify and analyze the impact of the 2007-09 global financial crisis on Asian economies and to assess the short-term and longer-term policy responses to the crisis in terms of their effectiveness and sustainability. It draws lessons on how best to avoid and/or mitigate future crises and to identify structural policy recommendations that can help guide Asian policymakers to expand the growth potential of domestic and regional demand in coming years, and thereby create a basis for sustainable and inclusive long-term growth. Organized into four parts, it offers an accessible explanation of the causes, consequences, and contagion mechanisms of the crisis. Part 1 provides an overview of the major issues and presents policy recommendations. Part 2 reviews the crisis in the US and its transmission to Europe. Part 3 focuses on the impact on Asia. And Part 4 concludes lessons of the crisis for Asian countries. The volume highlights that Asian economies have already recovered strongly from the global financial crisis, reflecting their aggressive moves to ease monetary and fiscal policy as well as the underlying fundamental strength of their economies. However, the biggest challenge lies ahead. It asserts that, given that it is unlikely that the US and Europe will be engines of global growth, Asian economies should contribute to global economic adjustment by creating their own growth engines.

Download or read book Studies In East Asian Economies Capital Flows Exchange Rates And Monetary Policy written by Jagdish Handa and published by World Scientific. This book was released on 2011-07-29 with total page 284 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.

Download or read book East Asia written by and published by World Bank Publications. This book was released on 2000 with total page 174 pages. Available in PDF, EPUB and Kindle. Book excerpt: Following the disastrous economic downturn of some years ago, the economies of East Asia have struggled to regain stability and equilibrium. As the sequel to East Asia: The Road to Recovery, this book offers both an examination of the state of the East Asian economy and analysis of opportunites in the future. With the crisis stage passed, where does East Asia truly stand, and can one be optimistic about its future prospects? East Asia: Recovery and Beyond offers answers to anyone concerned with the East Asian economies.

Download or read book Development Centre Seminars Achieving Financial Stability in Asia written by OECD and published by OECD Publishing. This book was released on 2000-06-28 with total page 178 pages. Available in PDF, EPUB and Kindle. Book excerpt: Achieving Financial Stability in Asia sets out to identify the elements which could restore confidence to the countries of the region and stabilise financial flows on a global basis. Thus, measures must be taken which include improving public and ...

Download or read book Current Account Sustainability written by Mr.Gian Milesi-Ferretti and published by International Monetary Fund. This book was released on 1996-10-01 with total page 50 pages. Available in PDF, EPUB and Kindle. Book excerpt: A number of developing countries have run large and persistent current account deficits in both the late seventies/early eighties and in the early nineties, raising the issue of whether these persistent imbalances are sustainable. This paper puts forward a notion of current account sustainability and compares the experience of three Latin American countries-Chile, Colombia Mexico-and three East Asian countries-Korea, Malaysia and Thailand. It identifies a number of potential sustainability indicators and discusses their usefulness in predicting external crises.

Download or read book Trauma To Triumph Rising From The Ashes Of The Asian Financial Crisis written by Hoe Ee Khor and published by World Scientific. This book was released on 2022-05-12 with total page 950 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book takes stock of and analyzes the events during the Asian financial crisis (AFC) and subsequent developments, including the global financial crisis (GFC), that led to the development of the ASEAN+3 regional financial cooperation framework and the establishment of the ASEAN+3 Macroeconomic Research Office. The book is the first of its kind to compile comprehensive recollections of the major players during the AFC and the GFC, including country-level narratives on the causes and developments of the crises, and measures to overcome them. The book not only presents an analytical and deeper examination of country experiences during both crises, but also assesses the two crises and covers the lessons learnt from the crises, particularly with a focus on the development of regional financial cooperation. The book concludes with regional financial cooperation in retrospect, aiming to catalyze further discussions on the direction of the region's financial cooperation.

Download or read book Capital Mobility in Asia written by Juthathip Jongwanich and published by ISEAS-Yusof Ishak Institute. This book was released on 2017-08-24 with total page 232 pages. Available in PDF, EPUB and Kindle. Book excerpt: "Asia has benefitted greatly from its integration into the world economy. But globalization has its challenges, including those that are the subject of this excellent new study: how to manage the interface with global capital markets, especially in the current, highly unusual monetary policy settings in the major economies. Dr Juthathip Jongwanich has been researching these issues for several years. In this volume she writes with great authority, providing a comprehensively, succinct and accessible examination of the many complex issues. A must-read volume for policymakers and academics alike." -- Hal Hill, H.W. Arndt Professor of Southeast Asian Economies, Australian National University span, SPAN { background-color:inherit; text-decoration:inherit; white-space:pre-wrap } "A very timely and excellent book on capital volatility. Jongwanich provides a superb analysis on the impact of capital flows on home country, exchange rates and the capital account policies. A very important book, especially for academia and policymakers." -- Muhamad Chatib Basri, Former Finance Minister of Indonesia "This timely book presents outstanding 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 will be a useful and valuable reading for researchers and policymakers to understand the nature of cross-border capital movement and design the policies conducive to more stable and sustainable economic growth." -- Jong-Wha Lee, Professor of Economics and Director of Asiatic Research Institute, Korea University "This is an important book. 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. But up until now there have been few detailed empirical studies of this issue. This book looks at the key factors determining capital mobility, considers the impact of capital flows, especially on real exchange rates, and examines the possibility of effective capital controls. Jongwanich draws two key conclusions: shifting the mix of inflows towards FDI is possible and desirable, and well-functioning domestic financial markets are essential if capital inflows are to be well used." -- David Vines, Professor of Economics and Fellow of Balliol College, University of Oxford

Download or read book Financial Deregulation and Integration in East Asia written by Takatoshi Ito and published by University of Chicago Press. This book was released on 2007-12-01 with total page 416 pages. Available in PDF, EPUB and Kindle. Book excerpt: The increased mobility and volume of international capital flows is a striking trend in international finance. While countries worldwide have engaged in financial deregulation, nowhere is this pattern more pronounced than in East Asia, where it has affected in unanticipated ways the behavior of exchange rates, interest rates, and capital flows. In these thirteen essays, American and Asian scholars analyze the effects of financial deregulation and integration on East Asian markets. Topics covered include the roles of the United States and Japan in trading with Asian countries, macroeconomic policy implications of export-led growth in Korea and Taiwan, the effects of foreign direct investment in China, and the impact of financial liberalization in Japan, Korea, and Singapore. Demonstrating the complexity of financial deregulation and the challenges it poses for policy makers, this volume provides an excellent picture of the overall status of East Asian financial markets for scholars in international finance and Asian economic development.

Download or read book Financial Development and Cooperation in Asia and the Pacific written by Edward K. Y. Chen and published by Routledge. This book was released on 2014-11-13 with total page 252 pages. Available in PDF, EPUB and Kindle. Book excerpt: The 1997–8 Asian financial crisis exposed weaknesses in the region’s national financial systems, but since then East Asia has become the world’s most dynamic economic region. Domestic financial systems have developed, cross-border financial flows within the region are growing apace as demand from governments and large firms increases and as the capabilities of financial institutions develop, and governments have initiated regional cooperation aimed at preventing future crises and managing them if they occur. This book examines the economies of Asia and the Pacific with reference to financial reform and liberalization, monetary policy frameworks, banking and capital markets, regulation and supervision and macroeconomic policies. Further, it asks what lessons have been learned from both the Asian financial crisis and the recent financial crisis, how to engender financial stability in the region, and how to ensure that the benefits of economic growth and financial development reach all members of society. Across four key sections, the chapters examine the future implications of historical studies of the relationships between financial development and growth; financial development including banks, non-bank financial institutions and capital markets; how financial stability is being sought in the region; and China’s plans for capital account opening and renminbi internationalization and subsequent the policy implications for China’s neighbours. This book draws on papers originally presented to the 36th Pacific Trade and Development Conference held in Hong Kong in 2013, and features contributions from leading academics and economists from around the world. As such, it will be of great interest to students and scholars of Asian economics, Asia Pacific studies, international economics and international finance.

Download or read book Capital Flows to Developing Countries and the Reform of the International Financial System written by Yilmaz Akyüz and published by . This book was released on 2000 with total page 76 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Managing Financial and Corporate Distress written by Charles Adams and published by Rowman & Littlefield. This book was released on 2010-12-01 with total page 516 pages. Available in PDF, EPUB and Kindle. Book excerpt: A World Bank, International Monetary Fund, and Brookings Institution publication More than three years have elapsed since the East Asian financial crisis erupted, threatening economic and financial stability in the region and beyond. Although many of the region's economies have since staged a remarkable turnaround, much additional restructuring and reform is needed. Managing Financial and Corporate Distress: Lessons from Asia, stands out from other works on the East Asian crisis by moving beyond macroeconomic assessments to offer an institutional treatment of the microeconomic aspects of the corporate and bank restructuring. Contributors draw on their practical, hands-on expertise in various aspects of finance to provide complementary perspectives on how best to set in place strong and responsive institutions that might be able to resolve and avoid future crises in other emerging markets.

Download or read book Fostering Monetary And Financial Cooperation In East Asia written by Barry Eichengreen and published by World Scientific. This book was released on 2009-04-29 with total page 190 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.