Adjustments Of The Financial And Corporate Sector To The Changes In Exchange Rate Volatility And Their Policy Implications In The Seacen Countries
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Author | : Dagva Boldbaatar |
Publisher | : |
Total Pages | : 300 |
Release | : 2007 |
Genre | : Banks and banking |
ISBN | : |
Author | : Ms.Ana Corbacho |
Publisher | : International Monetary Fund |
Total Pages | : 311 |
Release | : 2018-10-02 |
Genre | : Business & Economics |
ISBN | : 1513558900 |
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.
Author | : Eduardo Levy-Yeyati |
Publisher | : World Bank Publications |
Total Pages | : 39 |
Release | : 2007 |
Genre | : Central Bank |
ISBN | : |
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.
Author | : Masahiro Kawai |
Publisher | : Brookings Institution Press |
Total Pages | : 338 |
Release | : 2011 |
Genre | : Business & Economics |
ISBN | : 0815722109 |
"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.
Author | : Pierre-Richard Agénor |
Publisher | : |
Total Pages | : 120 |
Release | : 2013 |
Genre | : Inflation targeting |
ISBN | : 9781597821711 |
Author | : International Monetary Fund. Asia and Pacific Dept |
Publisher | : International Monetary Fund |
Total Pages | : 58 |
Release | : 2016-06-30 |
Genre | : Business & Economics |
ISBN | : 1498308740 |
This paper examines the evolution of monetary policy frameworks of the Association of Southeast Asian Nations (ASEAN)-5 economies, with particular focus on changes since the Asian financial crisis and the more recent period of unconventional monetary policies in advanced economies. Monetary policy frameworks of the ASEAN-5 economies have on the whole performed well since the crisis, delivering both price and financial stability during a period of significant domestic and regional transformation and global macroeconomic and financial turmoil. Not surprisingly, therefore, successful outcomes in most cases entailed significant changes to operating frameworks and refinement of policy objectives.
Author | : Masahiro Kawai |
Publisher | : Edward Elgar Publishing |
Total Pages | : 465 |
Release | : 2010-01-01 |
Genre | : Business & Economics |
ISBN | : 184980687X |
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.
Author | : Kent Matthews |
Publisher | : John Wiley & Sons |
Total Pages | : 210 |
Release | : 2006-02-22 |
Genre | : Business & Economics |
ISBN | : 0470032812 |
Since the Bank of England was made independent in 1997, the conduct of monetary policy has been relatively uncontroversial. The debates between Keyneisans, monetarists and supporters of fixed exchange rate mechanisms now appear very distant. Despite the apparent consensus there are many issues related to the conduct of monetary policy that are not yet settled and which will soon come to the fore. Is the current form of independence for the Bank of England appropriate? Should a central bank target inflation or the prices level? How does a central bank deal with asset price deflation? Should more account be taken of monetary aggregates? Should central banks target asset prices? What is the relationship between the money supply and asset price inflation? How should central banks ensure financial stability? The IEA was at the forefront of changing the parameters of the debate surrounding monetary policy in the 1970s and 1980s. This text, brings together some of the leading authors in the field, including the current Governor of the Bank of England, to discuss current issues in monetary policy and the relationship between monetary policy and financial markets. It is appropriate for undergraduates and postgraduates in economics and finance as well as for practitioners in financial markets.
Author | : Vincent Lim |
Publisher | : |
Total Pages | : 406 |
Release | : 2009 |
Genre | : Financial crises |
ISBN | : |
Author | : Naoyuki Yoshino |
Publisher | : |
Total Pages | : 0 |
Release | : 2018 |
Genre | : Business & Economics |
ISBN | : 9784899740698 |
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.