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Kumar, Rajiv; Vashisht, Pankaj - 2011

With the revival of global economy, the issues of "exit policies" and rebalancing global growth have taken center stage in policy discussions. Since many emerging Asian economies presently have large current account surpluses, the issue of rebalancing has special significance for Asia. While...

Persistent link: https://www.econbiz.de/10008907776

Promoting learning and industrial upgrading in ASEAN countries

Thorbecke, Willem; Lamberte, Mario B.; Komoto, Ginalyn - 2010

This paper traces the effects of the "East Asian Miracle," the 1997-1998 Asian Crisis, the recovery, and the 2008-2009 global financial crisis on ASEAN countries. It also considers how ASEAN countries can sustain growth by leveraging production networks to facilitate technology transfer. To...

Persistent link: https://www.econbiz.de/10008732282

Rebalancing the US economy in a postcrisis world

Bosworth, Barry; Collins, Susan M. - 2010

The objective of this paper is to explore how the external balance of the United States (US) might evolve in future years as the economy emerges from the recession. We examine the issue from the domestic perspective of the saving and investment balance and from the external side in terms of the...

Persistent link: https://www.econbiz.de/10008732363

Can Asia sustain an export-led growth strategy in the aftermath of the global crisis? : an empirical exploration

Razmi, Arslan; Hernández, Gonzalo - 2011

Many developing countries have attempted to pursue the East Asian growth model in recent decades. This model is widely perceived to have been based on export-led growth. Given that developed countries are likely to grow at a slower rate and be less willing to run trade deficits in the...

Persistent link: https://www.econbiz.de/10009381662

Capital inflow surges and consequences

Ghosh, Atish R.; Qureshi, Mahvash Saeed - 2016

While capital flows to emerging markets bring numerous benefits, they are also known to create macroeconomic imbalances (economic overheating, currency overvaluation) and increase financial vulnerabilities (domestic credit growth, bank leverage, foreign currency-denominated lending). But are all...

Persistent link: https://www.econbiz.de/10011522086

Causes and remedies for Japan's long-lasting recession : lessons for the People’s Republic of China

Yoshino, Naoyuki; Taghizadeh-Hesary, Farhad - 2015

Japan has suffered from sluggish economic growth and recession since the early 1990s. In this paper, we analyze the causes of the prolonged slowdown of the Japanese economy (the lost decade). Economics Nobel laureate Paul Krugman has argued that Japan's lost decade is an example of a liquidity...

Persistent link: https://www.econbiz.de/10011407566

The eurozone in the current crisis

Wyplosz, Charles - 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/10003983135

Reforms to the European Union financial supervisory and regulatory architecture and their implications for Asia

Darvas, Zsolt M.; Schoenmaker, Dirk; Véron, Nicolas - 2016

European Union (EU) countries offer a unique experience of financial regulatory and supervisory integration … markets. However, the policy framework proved inadequate in the context of the major financial crisis in the EU starting in … structural institutional change for the EU, arguably the most significant since the introduction of the euro. Even in its current …

Persistent link: https://www.econbiz.de/10011561790

The evolution of the European Stability Mechanism: lessons for Asian integration

Rövekamp, Frank - 2020

The European Stability Mechanism (ESM) is a permanent institution with the purpose of providing financial stability to the 19 countries in the eurozone. It was founded in 2012 at the height of the sovereign debt crisis in Europe. Originally, the European Union and the eurozone intended to...

Persistent link: https://www.econbiz.de/10012289927

How to build a resilient monetary union? : lessons from the euro crisis

Claeys, Gregory - 2017

This paper describes the institutional flaws that led to the euro crisis, assesses the institutional reforms that were put in place during and in the aftermath of the crisis, and evaluates the remaining fragilities of the architecture of the European monetary union. In mid-2017, growth in the...

Persistent link: https://www.econbiz.de/10011723767