Showing 1 - 10 of 69
The Asian financial crisis (1997–1998) and the global financial crisis (2007–2009) highlighted the potential value of financial regionalism, i.e., regional-level cooperation in financial policy. This paper argues that there is a mediating role for regional-level institutions of financial...
Persistent link: https://www.econbiz.de/10010840153
The ongoing global economic crisis has punished Asian economies severely, despite the fact that its origins derive from outside the region. The global economic crisis was transmitted through real and financial channels, underscoring how vulnerable the region is to external shocks. This paper...
Persistent link: https://www.econbiz.de/10008489523
This paper discusses the role of state intervention for prevention, containment, and resolution of financial crises based mainly on the Korean experience during the 1997 Asian financial crisis. Crises in emerging market and developing economies tend to be more complicated than those faced by...
Persistent link: https://www.econbiz.de/10008489525
This paper examines the motivation for, and the success of, regional efforts in Asia to promote local currency bond markets. The analysis demonstrates that Asian local currency bond markets made substantial gains as a region going into the current global financial crisis. However, we argue that...
Persistent link: https://www.econbiz.de/10008467191
Thailand's increasing importance as a regional co-production base and as an intra-regional trade and border trade hub is due mainly to recent changes in its economic structure, namely, the lack of operational workers, rises in wages, and increases in outward foreign direct investment (FDI),...
Persistent link: https://www.econbiz.de/10011240324
This paper discusses mechanisms to prevent and resolve foreign exchange crises in East Asia. Policies and mechanisms at the country level as well as regional and global levels are discussed. Policies at the level of a particular country to prevent foreign exchange crises include the management...
Persistent link: https://www.econbiz.de/10010840147
The paper uses the emerging Association of Southeast Asian Nations (ASEAN) Economic Community as a motivation to explore the issue of capital flow management in an economic community. Although there is an increasingly shared view that capital flow management measures should be part of the...
Persistent link: https://www.econbiz.de/10010840151
Most of the trade between South Asia and Southeast Asia is by sea. However, with improved infrastructure and easier border crossing procedures, land traffic could grow to boost trade in goods, services, and tourism between the subregions. The purpose of the study is to analyze how to strengthen...
Persistent link: https://www.econbiz.de/10010840158
As Asia considers greater harmonization and integration of its financial systems, it would be well-advised to consider the experience of Europe, particularly the eurozone. There are many lessons to be drawn from Europe about how to implement such integration, mostly negative. It is particularly...
Persistent link: https://www.econbiz.de/10010840169
This paper gives an overview of the causes of the European debt crisis and the consequences for the external relations. It finds that political mishandling has increased uncertainty, which has contributed to a tendency for the euro to become weaker.
Persistent link: https://www.econbiz.de/10010840171