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East Asian Financial and Economic Development

Morck, Randall - 2017

over a single generation. China now seems poised to follow a similar trajectory. All three cases highlight the importance …

Persistent link: https://www.econbiz.de/10012947025

Are Commodity Futures Prices Barometers of the Global Economy?

Hu, Conghui - 2013

prices of East Asian economies including China, Japan, Hong Kong, South Korea, and Taiwan. We find significant and positive …

Persistent link: https://www.econbiz.de/10013071915

East Asian Economies and Financial Globalization in the Post-Crisis World

Aizenman, Joshua - 2016

decades, whereas China's has been on a rising trend, yet the share of trade among Asian economies with the dollar zone …. One big dollar-zone economy that has been increasing its presence in Asia is China. However, China has been recently … making efforts to “internationalize” its currency, the yuan (RMB). Hence, if China succeeds in its internationalization …

Persistent link: https://www.econbiz.de/10012991684

The Onset of the East Asian Financial Crisis

Radelet, Steven C.; Sachs, Jeffrey - 2002

This paper provides an early diagnosis of the financial crisis in Asia, focusing on the empirical record in the lead-up to the crisis. The main goal is to emphasize the role of financial panic as an essential element of the Asian crisis. At the core of the crisis were large-scale foreign capital...

Persistent link: https://www.econbiz.de/10014215634

A Primer on Real Effective Exchange Rates : Determinants, Overvaluation, Trade Flows and Competitive Devaluation

Chinn, Menzie David - 2021

Several alternative measures of "effective" exchange rates are discussed in the context of their theoretical underpinnings and actual construction. Focusing on contemporary indices and recently developed econometric methods, the empirical characteristics of these differing series are examined,...

Persistent link: https://www.econbiz.de/10013222072

Affiliates of U.S. And Japanese Multinationals in East Asian Production and Trade

Lipsey, Robert E. - 2021

Since 1977, and in some cases starting before that, most East Asian countries' export patterns in manufacturing have been transformed from industry distributions typical of developing countries to distributions more like those of advanced countries. The process of change in most cases started...

Persistent link: https://www.econbiz.de/10013224859

Experience of and Lessons from Exchange Rate Regime in Emerging Economies

Frankel, Jeffrey A. - 2021

The paper reviews recent trends in thinking on exchange rate regimes. It begins by classifying countries into regimes, noting the distinction between de facto and de jure regimes, but also noting the low correlation among proposed ways of classifying the latter. The advantages of fixed exchange...

Persistent link: https://www.econbiz.de/10013225835

Lessons from the Asian Crisis

Mishkin, Frederic S. - 2021

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/10013225947

Market Structure and International Trade : Business Groups in East Asia

Feenstra, Robert C.; Yang, Tzu-han; Hamilton, Gary G. - 2021

In this paper we study the effect of market structure on the trade performance of South Korea, Taiwan, and Japan. We center our analysis on Korea and Taiwan, countries which have very different market structures: Korea has many large, vertically-integrated business groups known as chaebol,...

Persistent link: https://www.econbiz.de/10013226565

Recovery and Sustainability in East Asia

Pak, Yŏng-chŏl; Lee, Jong-Wha - 2021

This paper analyzes the macroeconomic adjustment from the crisis in East Asia in a broad international prospective. The stylized pattern from the previous 160 currency crisis episodes over the period from 1970 to 1995 shows a V-type adjustment of real GDP growth in the years prior to and...

Persistent link: https://www.econbiz.de/10013227193