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This paper provides an asymmetric information analysis of the recent East Asian crisis. It then outlines several lessons from this crisis. First, there is a strong rationale for an international lender of last resort. Second, without appropriate conditionality for this lending, the moral hazard...
Persistent link: https://www.econbiz.de/10012470928
spectacular advances of the economies of China, India, and Southeast Asia. Section 1 reviews the debate over the sources of … the new recognition among Western economists that the sustained, very rapid growth in China and Southeast Asia was …
Persistent link: https://www.econbiz.de/10012463682
We ask how export demand shocks associated with the Asian financial crisis affected Chinese exporters. We construct firm-specific exchange rate shocks based on the pre-crisis destinations of firms' exports. Because the shocks were unanticipated and large, they are a plausible instrument for...
Persistent link: https://www.econbiz.de/10012464017
We analyze the impact of China's growth on the exports of other Asian countries. Our innovation is to distinguish the … increase in China's demand for imports from its increased penetration of export markets. Using the gravity model, we … disaggregate among commodity types and account for the endogeneity of Chinese exports. We confirm the tendency for China's exports …
Persistent link: https://www.econbiz.de/10012467922
The objective of this paper is three-fold. First, the monetary and exchange rate regimes of the Asian countries are described and analyzed. The degrees of flexibility in exchange rates and capital controls vary across countries. Some countries have adopted a flexible inflation targeting...
Persistent link: https://www.econbiz.de/10012455925
assume the role of a global currency similar to the U.S. dollar. Supporters point to China's widely diversified trade and … play a regional role in Asia equivalent to that of the euro in greater Europe. Proponents of this view argue that China has …
Persistent link: https://www.econbiz.de/10012456954
substantially shift towards Asia and especially towards the Asian Giants, China and India. While such forecasts may pan out, there … are substantial reasons that China and India may grow much less rapidly than is currently anticipated. Most importantly … discontinuities account for a large fraction of the variation in growth rates. We suggest that salient characteristics of China …
Persistent link: https://www.econbiz.de/10012458092
This paper explores the potential impacts on both China and other major countries of possible mega trade deals. These …-participation countries will lose. If non-tariff barriers are reduced more, the impacts will be larger. All effects to China on welfare, trade …, export and import are positive. Comparatively China-TPP and RCEP will yield the highest welfare outcomes for the US in our …
Persistent link: https://www.econbiz.de/10012458242
In this paper, we present data on trends over time in domestic saving rates in twelve economies in developing Asia during the 1966-2007 period and analyze the determinants of these trends. We find that domestic saving rates in developing Asia have, in general, been high and rising but that there...
Persistent link: https://www.econbiz.de/10012461076
paper with an emphasis on differences by gender and differences across regions. Some comparisons between China and India and …
Persistent link: https://www.econbiz.de/10014337769