Capital Flows and Their Implications for Central Bank Policies in the SEACEN Countries
Author : Min B. Shrestha
Publisher :
Page : 462 pages
File Size : 30,36 MB
Release : 2009
Category : Balance of trade
ISBN :
Fear of Appreciation
Author : Eduardo Levy-Yeyati
Publisher : World Bank Publications
Page : 39 pages
File Size : 16,73 MB
Release : 2007
Category : Central Bank
ISBN :
Book Description
Abstract: In recent years the term "fear of floating" has been used to describe exchange rate regimes that, while officially flexible, in practice intervene heavily to avoid sudden or large depreciations. However, the data reveals that in most cases (and increasingly so in the 2000s) intervention has been aimed at limiting appreciations rather than depreciations, often motivated by the neo-mercantilist view of a depreciated real exchange rate as protection for domestic industries. As a first step to address the broader question of whether this view delivers on its promise, the authors examine whether this "fear of appreciation" has a positive impact on growth performance in developing economies. The authors show that depreciated exchange rates appear to induce higher growth, but that the effect, rather than through import substitution or export booms as argued by the mercantilist view, works largely through the deepening of domestic savings and capital accumulation.
Managing Capital Flows
Author : Masahiro Kawai
Publisher : Edward Elgar Publishing
Page : 465 pages
File Size : 24,78 MB
Release : 2010-01-01
Category : Business & Economics
ISBN : 184980687X
Book Description
Managing Capital Flows provides analyses that can help policymakers develop a framework for managing capital flows that is consistent with prudent macroeconomic and financial sector stability. While capital inflows can provide emerging market economies with invaluable benefits in pursuing economic development and growth, they can also pose serious policy challenges for macroeconomic management and financial sector supervision. The expert contributors cover a wide range of issues related to managing capital flows and analyze the experience of emerging Asian economies in dealing with surges in capital inflows. They also discuss possible policy measures to manage capital flows while remaining consistent with the goals of macroeconomic and financial sector stability. Building on this analysis, the book presents options for workable national policies and regional policy cooperation, particularly in exchange rate management. Containing chapters that bring in international experiences relevant to Asia and other emerging market economies, this insightful book will appeal to policymakers in governments and financial institutions, as well as public and private finance experts. It will also be of great interest to advanced students and academic researchers in finance.
The ASEAN Way
Author : Ms.Ana Corbacho
Publisher : International Monetary Fund
Page : 311 pages
File Size : 49,64 MB
Release : 2018-10-02
Category : Business & Economics
ISBN : 1513558900
Book Description
The first part of the book examines the evolution of monetary policy and prudential frameworks of the ASEAN5, with particular focus on changes since the Asian financial crisis and the more recent period of unconventional monetary policy in advanced economies. The second part of the book looks at policy responses to global financial spillovers. The third and last part of the book elaborates on the challenges ahead for monetary policy, financial stability frameworks, and the deepening of financial markets.
Inflation Targeting and Financial Stability
Author : Pierre-Richard Agénor
Publisher :
Page : 120 pages
File Size : 40,22 MB
Release : 2013
Category : Inflation targeting
ISBN : 9781597821711
Book Description
Regional and Global Capital Flows
Author : Takatoshi Ito
Publisher : University of Chicago Press
Page : 404 pages
File Size : 10,99 MB
Release : 2009-02-15
Category : Business & Economics
ISBN : 0226387011
Book Description
The volume of capital flows between industrial and developing countries has grown dramatically in the past decade and has become a major issue in a world that is increasingly "globalized." Here Takatoshi Ito and Anne O. Krueger, two leading experts on this topic, have assembled a group of scholars who address different types of capital flows—bank lending, bonds, direct foreign investment—and the implications they hold for economic performance. With its particular focus on the Asian financial crises, this work presents a new model for policy makers everywhere in thinking about the role of private capital flows.
Central Bank Policy
Author : Perry Warjiyo
Publisher : Emerald Group Publishing
Page : 586 pages
File Size : 29,75 MB
Release : 2019-07-25
Category : Business & Economics
ISBN : 1789737516
Book Description
Central Bank Policy: Theory and Practice analyses various policies, theories and practices adopted by central banks, as well as the institutional arrangements underlying the principles of good governance in policy-making. It is the first book to comprehensively discuss the latest theories and practices of central bank policy.
Asian Perspectives on Financial Sector Reforms and Regulation
Author : Masahiro Kawai
Publisher : Brookings Institution Press
Page : 338 pages
File Size : 13,4 MB
Release : 2011
Category : Business & Economics
ISBN : 0815722109
Book Description
"Examines Asia's emerging markets, which survived the financial debacle of 2008-09 with only modest declines in growth; discusses activities that could dampen continuing development in these markets including inflation, surging capital inflows, asset and credit bubbles, and rapid currency appreciation; and offers strategies to promote financial stability"--Provided by publisher.
Dealing with Capital Inflows
Author : Carmen M. Reinhart
Publisher : Unu World Institute for Development Economics Research
Page : 60 pages
File Size : 42,14 MB
Release : 1996
Category : Business & Economics
ISBN :
Book Description
Dealing with Capital Inflows: Are There Any Lessons? reviews the experience of a heterogeneous group of developing countries in maintaining macroeconomic stability in the face of heavy capital inflows. It makes a comparison of country responses organized according to policy response & identifies the limitations of each of these policies & conditions under which some policies can be self-defeating in that they attract more short-term investment. The publication is part of the Research for Action series which discusses policy-oriented research on the main strategic issues of development & international cooperation, as well as on the interaction between domestic & global changes.
Global Shocks and the New Global and Regional Financial Architecture
Author : Naoyuki Yoshino
Publisher :
Page : 0 pages
File Size : 27,74 MB
Release : 2018
Category : Business & Economics
ISBN : 9784899740698
Book Description
Asian economies continue to be subject to new shocks: US monetary policy tightening, the adoption of negative-interest-rate policies by central banks all over the world, the slowdown of the People's Republic of China, and the sharp drop in oil and other commodity prices. All these highlight the vulnerability of the region to volatile trade and capital flows even as the global and Asian regional financial architecture evolves. This volume analyzes the vulnerabilities of Asian economies to external economic and financial shocks and assesses the performance of Asian regional institutions in financial surveillance and cooperation. It also evaluates ongoing reforms of the global financial architecture, including the International Monetary Fund (IMF), the Financial Stability Board, and reviews the experience of the "Troika" (European Commission, European Central Bank, and the IMF) in managing the European sovereign debt and banking crisis. Based on these, the book develops valuable recommendations to strengthen the Asian regional financial architecture and improve cooperation with global multilateral institutions.
