This volume analyzes Asia's postcrisis experience with using monetary policy to manage the resurgence in capital inflows postcrisis. It also examines the theoretical and policy issues associated with international capital flows, the increasing degree of integration of financial markets and exchange rates for emerging Asian economies more generally.

This volume is a compilation of important papers relating to the financial, governance and political-economy structures of the region, through a variety of methods and topics. Following the Asian crisis and subsequent global financial upheavals, policymakers and academics issued cries for institutional reform at the state and firm level; in many cases, reform was actually implemented rather than simply rhetorical. This volume begins by addressing issues relating to corporate governance within firms located in East Asia and as entities participating in corporate ownership elsewhere. Next, the...