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Sequencing of Capital Account Liberalization - Japan's experiences and their implications to China
Aramaki, Kenji - East Asian Bureau of Economic Research (EABER) - 2006
This paper reviews Japan's experiences with the liberalization of capital accounts, and tries to identify their … implications to China. Liberalization of capital accounts proceeded very gradually in Japan from the adoption of a system of … country caused by these shocks, Japan, which was generally headed for the liberalization of the capital accounts, was …
Persistent link: https://www.econbiz.de/10009365445
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The Impossible Trinity and Capital Flows in East Asia
Grenville, Stephen - East Asian Bureau of Economic Research (EABER) - 2011
The Impossible Trinity doctrine still holds a powerful sway over policymakers, advisors (particularly the International Monetary Fund [IMF]) and academia. In East Asia over the past decade, however, most countries have been able to maintain open capital markets, monetary policy...
Persistent link: https://www.econbiz.de/10009652202
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International Reserves and Swap Lines in Times of Financial Distress : Overview and Interpretations
Aizenman, Joshua - East Asian Bureau of Economic Research (EABER) - 2010
In this paper I review the use of precautionary measures aimed at mitigating emerging markets exposure to fragility associated with financial integration. The discussion draws possible lessons from the ongoing global liquidity crisis. The fear of losing international reserves (IR) constrained...
Persistent link: https://www.econbiz.de/10009363868
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Rethinking Capital Flows for Emerging East Asia
Grenville, Stephen - East Asian Bureau of Economic Research (EABER) - 2012
Since the 1980s, emerging countries have been urged to welcome foreign capital inflows. The result has often been a pattern of surges, where excessive inflows were followed by damaging “sudden stops†and reversals. This was dramatically evident in the Asian crisis of...
Persistent link: https://www.econbiz.de/10011278030
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Indian Capital Control Liberalization : Evidence from NDF Markets
Hutchison, Michael; Kendall, Jake; Pasricha, Gurnain; … - East Asian Bureau of Economic Research (EABER) - 2009
The Indian government has taken a number of incremental measures to liberalise legal and administrative impediments to international capital movements in recent years. This paper analyses the extent to which the effectiveness of capital controls in India, measured by the domestic less net...
Persistent link: https://www.econbiz.de/10009363806
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The Future of Financial Liberalization in South Asia
Goyal, Ashima - East Asian Bureau of Economic Research (EABER) - 2010
The paper defines financial liberalization, distinguishing between liberalization of domestic financial markets and … followed a well thought out sequence whereby full capital account liberalization was to come after deepening domestic markets … future liberalization should be such as meets Indian needs of financial inclusion, infrastructure finance, and domestic …
Persistent link: https://www.econbiz.de/10009365400
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The Future of Financial Liberalization in South Asia
Goyal, Ashima - East Asian Bureau of Economic Research (EABER) - 2010
The paper defines financial liberalization, distinguishing between liberalization of domestic financial markets and … followed a well thought out sequence whereby full capital account liberalization was to come after deepening domestic markets … future liberalization should be such as meets Indian needs of financial inclusion, infrastructure finance, and domestic …
Persistent link: https://www.econbiz.de/10009365446
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The Renminbi and Exchange Rate Regimes in East Asia
Kawai, Masahiro; Pontines, Victor - East Asian Bureau of Economic Research (EABER) - 2014
With the rise of the People’s Republic of China (PRC) as the world’s largest trading nation (measured by trade value) and second largest economic power (measured by GDP), its economic influence over the neighboring emerging economies in East Asia has also risen. The PRC introduced...
Persistent link: https://www.econbiz.de/10011134348
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Exchange Rate Regimes and Monetary Independence in East Asia
Kim, Chang-Jin; Lee, Jong-Wha - East Asian Bureau of Economic Research (EABER) - 2002
This paper examines whether changes in exchange rate arrangements have affected monetary independence in East Asian countries after the 1997 Asian crisis. We find that the sensitivity of local to U.S. interest rates has declined for many Asian countries since they adopted floating exchange rate...
Persistent link: https://www.econbiz.de/10009363821
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Appropriate Exchange Rate Regime in Developing Countries : The Case of Korea
Chung, Choe Shick; Yang, Doo Yong - East Asian Bureau of Economic Research (EABER) - 2000
This paper examines the viability or appropriateness of two polar solutions, especially free-floating regime for developing countries. To do so, we investigate the Korean financial markets, which provide interesting case, utilizing multivariate GARCH and various VSR (Vector Auto-Regression)...
Persistent link: https://www.econbiz.de/10009363827