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Financial Safety Nets in Asia : Genesis, Evolution, Adequacy, and Way Forward
Hill, Hal; Menon, Jayant - East Asian Bureau of Economic Research (EABER) - 2012
to rely solely on the International Monetary Fund (IMF) again, the Chiang Mai Initiative (CMI) was created in 2000. When … doubled in size to $240 billion, while the IMF de-linked portion was increased to 30%. A surveillance unit, the Association …-developing financial emergency, it is unlikely that the CMIM will be used even as a complement to the IMF. To serve as a stand-alone option …
Persistent link: https://www.econbiz.de/10011278018
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International Monetary Reform : A Critical Appraisal of Some Proposals
Park, Yung Chul; Wyplosz, Charles - East Asian Bureau of Economic Research (EABER) - 2012
either an international medium of exchange or a reserve currency. The International Monetary Fund (IMF) has changed its …
Persistent link: https://www.econbiz.de/10011278046
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The World Bank and the Asian Development Bank : Should Asia Have Both?
Nehru, Vikram - East Asian Bureau of Economic Research (EABER) - 2012
This paper examines the complementary and competitive roles of the World Bank and the Asian Development Bank (ADB) in Asia given the backdrop of a changing world in which development priorities and challenges are changing rapidly and the rapid expansion of financial flows to developing...
Persistent link: https://www.econbiz.de/10011278044
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Asian Monetary Integration : A Japanese Perspective
Kawai, Masahiro - East Asian Bureau of Economic Research (EABER) - 2014
This paper discusses Japan’s strategy for Asian monetary integration. It argues that Japan faces three major policy challenges when promoting intraregional exchange rate stability. First, there must be some convergence of exchange rate regimes in East Asia, and the most realistic option is for...
Persistent link: https://www.econbiz.de/10011278016
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Inadequate Regional Financial Safety Nets Reflect Complacency
Azis, Iwan J. - East Asian Bureau of Economic Research (EABER) - 2013
To the extent that financial contagion from the United States and the euro area crisis has occurred in Asia, this paper focuses on the importance of strengthening the regional financial safety nets. By conjecturing that efforts to prevent and manage a crisis are the essence of providing...
Persistent link: https://www.econbiz.de/10011278029
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Trilemma and Financial Stability Configurations in Asia
Aizenman, Joshua - East Asian Bureau of Economic Research (EABER) - 2011
This paper takes stock of recent research dealing with the degree to which the trilemma choices of Asian countries facilitated a smoother adjustment during the global crisis of 2008– 2009, and the way the region has been coping with the adjustment to the postcrisis challenges. We point...
Persistent link: https://www.econbiz.de/10009652204
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The Eurozone in the Current Crisis
Wyplosz, Charles - East Asian Bureau of Economic Research (EABER) - 2010
This paper contrasts the United States (US) and European situations during the crisis and examines how much of the crisis has been imported by Europe from the US. The paper argues that Europe never had a chance to avoid contagion from the US. It also documents the relatively limited reaction of...
Persistent link: https://www.econbiz.de/10009363829
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Global Financial Architecture : past and present arguments, advice, action
Goyal, Ashima - East Asian Bureau of Economic Research (EABER) - 2009
In the context of the formation of G-20, the paper points out the absence of reform in the global financial architecture (GFA) after the East Asian crisis, and assesses factors that can improve the chances of real reform this time. A factual assessment of various causes advanced for the global...
Persistent link: https://www.econbiz.de/10009363874
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Issues for Renminbi Internationalization : An Overview
Eichengreen, Barry; Kawai, Masahiro - East Asian Bureau of Economic Research (EABER) - 2014
The growing weight of the People’s Republic of China (PRC) in the world economy, measured by gross domestic product (GDP) and trade volume, has intensified debate on the potential international role of its currency—the renminbi (RMB). This paper provides an overview of RMB...
Persistent link: https://www.econbiz.de/10011134343
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Global Imbalances in a World of Inflexible Real Exchange Rates and Capital Controls
Hallett, Andrew Hughes; Oliva, Juan Carlos Martinez - East Asian Bureau of Economic Research (EABER) - 2011
This paper addresses the issue of international payments in a stock-flow framework, by capturing the interaction between the current account balance and international assets portfolios of domestic and foreign investors. It is argued that the stability of such interaction may be affected by...
Persistent link: https://www.econbiz.de/10009651642