There is a deepening debate in East Asia about the prospects for common exchange rate arrangements, even including the formation of a common currency in the longer term. This raises a complex set of issues and this volume provides a detailed yet comprehensive examination of key issues in the debate. It looks, for example, at the nature and extent of linkages in East Asia, in terms of trade and foreign investment, finance, labour, and consumption, investment and output. It examines how the exchange rate affects various aspects of economies. And it critically analyses various proposals for...
There is a deepening debate in East Asia about the prospects for common exchange rate arrangements, even including the formation of a common currency ...
There is a deepening debate in East Asia about the prospects for common exchange rate arrangements, even including the formation of a common currency in the longer term. This raises a complex set of issues and this volume provides a detailed yet comprehensive examination of key issues in the debate. It looks, for example, at the nature and extent of linkages in East Asia, in terms of trade and foreign investment, finance, labour, and consumption, investment and output. It examines how the exchange rate affects various aspects of economies. And it critically analyzes various proposals for...
There is a deepening debate in East Asia about the prospects for common exchange rate arrangements, even including the formation of a common currency ...
In this collaboration between the Brookings Institution and the Asian Development Bank Institute, eminent international economists examine the increased influence of Asian nations in the governance of global economic affairs, from the changing role of the G-20 to the reform of multilateral organizations such as the International Monetary Fund.
Established in the aftermath of the Asian financial crisis at the ministerial level, the G-20 has served as a high-level platform for discussing economic analyses and policy responses since 1999. During the current global financial crisis, however,...
In this collaboration between the Brookings Institution and the Asian Development Bank Institute, eminent international economists examine the incr...
Persistently large external imbalances in the world economy contributed to the outbreak of the recent financial crisis. The current account imbalances were particularly severe among the economies that border on the Pacific--the United States ran large deficits, with offsetting surpluses in East Asia. The depth and breadth of the global recession also demonstrated the need for a coordination of national policies to achieve a sustained recovery.
While the magnitude of global-trade disruption led to some reduction in the size of the imbalances, closer examination suggests that the...
Persistently large external imbalances in the world economy contributed to the outbreak of the recent financial crisis. The current account imbalan...
The global financial crisis has led to a sweeping reevaluation of financial market regulation and macroeconomic policies. Emerging markets need to balance the goals of financial development and broader financial inclusion with the imperative of strengthening macroeconomic and financial stability. The third in a series on emerging markets, New Paradigms for Financial Regulation develops new analytical frameworks and provides policy prescriptions for how the frameworks should be adapted to a world of more free and more volatile capital.
This volume provides an overview of the...
The global financial crisis has led to a sweeping reevaluation of financial market regulation and macroeconomic policies. Emerging markets need to ...
This book contributes to the theoretical and empirical literature on Asian regionalism, with a focus on the innovations needed to reform the current institutional architecture in Asia. After reviewing the key issues and challenges related to the political economy of Asia s economic cooperation and integration, the book discusses various aspects of regionalism from political and economic perspectives. It looks at the rationale for regional collective action and reviews the trend of economic integration with a focus on the implications of the global financial crisis. In addition to reviewing...
This book contributes to the theoretical and empirical literature on Asian regionalism, with a focus on the innovations needed to reform the curren...
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...
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-te...
This monograph addresses Asia's rise in global free trade agreement (FTA) activity. This has sparked concerns about the erosion of the World Trade Organization (WTO) trading system and the Asian "noodle bowl" (multiple and possibly conflicting FTAs). The study identifies for policymakers how best to minimize the costs of FTAs while maximizing their benefits. It reexamines key trends and challenges in Asian FTAs and offers new information from analysis of FTAs, economic models, and firm surveys. This analysis supports strengthening business support for FTAs; rationalizing rules of origin and...
This monograph addresses Asia's rise in global free trade agreement (FTA) activity. This has sparked concerns about the erosion of the World Trade Org...
Meet the next global currency: the Chinese renminbi, or the "redback." Following the global financial crisis of 2008, China's major monetary policy objective is the internationalization of the renminbi, that is, to create an inter-national role for its currency akin to the international role currently played by the U.S. dollar.
Renminbi internationalization is a hot topic, for good reason. It is, essentially, a window onto the Chinese government's aspirations and the larger process of economic and financial transformation. Making the renminbi a global currency requires rebalancing...
Meet the next global currency: the Chinese renminbi, or the "redback." Following the global financial crisis of 2008, China's major monetary policy...
Asia has witnessed a proliferation of free trade agreements (FTAs) since the turn of the millennium. Each of them aims to achieve greater trade and investment liberalization and facilitation and more harmonized trade and investment rules. This book examines these regional agreements, their economic and strategic rationales and challenges during negotiations and afterwards.
Asia has witnessed a proliferation of free trade agreements (FTAs) since the turn of the millennium. Each of them aims to achieve greater trade and in...
