In this paper, we estimate the exchange rate exposure, indicating the effect of exchange rate movements on firm values, for a sample of 1,400 firms in seven East Asian countries. The exposure estimates based on various exchange rate variables, return horizons and a control variable are compared....

The RTAs with trade facilitation provisions have been expected to generate a larger net trade-creating effect and complement the discriminatory feature of RTAs but have yet to be empirically proven. Recognizing the limitations of existing studies, we conducted a quantitative analysis on the...

This article aims to review the monetary policy rule under inflation targeting framework focusing on Mongolia. The empirical analysis estimates the policy reaction function to see if the inflation targeting has been linked with a monetary policy rule emphasizing on inflation stabilization since...

The Asia-Pacific region is not typically seen as one geographic or socio-economic space. Yet, 58 regional economies occupying the space of 28 million square kilometers from Turkey in the West, Russian Federation in the North, French Polynesia in the East and New Zealand in the South belong to...

Since the 1991 balance of payments crisis, India has embarked on an ambitious program of economic liberalization. Over the past decade the Indian government has introduced a series of far-reaching reforms that have transformed the once closed economy. This paper examines the policy reforms and...

In Korea, the IMF-supported program, approved in late 1997, focused on financial sector restructuring, corporate governance, capital account liberalization, labor market reforms and trade liberalization. As in Thailand, it soon became clear that the IMF program underestimated the severity and...

Based on relatively recent household survey data (1986-2000) in rural China, this paper analyzes the composition and inequality in non-land wealth. We first document the evolution of rural households wealth during the sample period. Our results show that the housing assets have played a dominant...

This paper analyzes the household's off-farm labor response to risk using the Research Center on the Rural Economy (RCRE) panel data in China. This paper aims to find out whether the off-farm labor market, especially the migrant labor market, could be used as a means of coping with risk and...

The Asian currency crisis in 1997 and the launch of the euro in 1999 made the possibility and desirability of introducing a regional currency union in East Asia a point of debate. At present, the empirical findings and policy implications of previous studies are mixed. We are still in need of...

This paper focuses on the following two issues. First, the paper investigates the extent to which financial development has contributed to economic growth in China. For this purpose, we utilize well-known financial development indicators and seek to find a long-run relationship between output...