In the chaotic financial environment of Asia in 1997-1998, daily changes in stock prices of about 10 percent became …

systems like those in East Asia to short-term foreign currency exposure suggests that preventive measures are also required. …

We assess links between China and the rest of emerging Asia. Some commentators have argued that China’s apparent …

large current account surpluses across non-China emerging Asia, which have been a significant counterpart to the U … investment decisions in emerging Asia, and that as the restructuring completes its course, investment rates will likely rise to …

Financial globalization had a rocky start in emerging economies hit by Sudden Stops. Foreign reserves have grown very … equilibrium framework in which precautionary foreign asset demand is driven by output variability, financial globalization, and … Sudden Stop risk. In this framework, credit constraints produce endogenous Sudden Stops. We find that financial globalization …