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Reform of the international financial architecture : an Asian perspective
Kawai, Masahiro - 2009
powerful Financial Stability Board, and augmenting the financial resources of the IMF. However, the international financial … architecture remains inadequate for the needs of many emerging market economies. The effectiveness of IMF surveillance …
Persistent link: https://www.econbiz.de/10003901587
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Financial safety nets in Asia : genesis, evolution, adequacy, and way forward
Hill, Hal; Menon, Jayant - 2012
rely solely on the International Monetary Fund (IMF) again, the Chiang Mai Initiative (CMI) was created in 2000. When the … 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/10009667234
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Regional and global financial safety nets : the recent European experience and its implications for regional cooperation in Asia
Darvas, Zsolt M. - 2017
/08 global financial and economic crisis - which were supported by the International Monetary Fund (IMF) and various European … as the size of imbalances, financing, unique cooperation of the IMF and various European facilities, and membership of a … lessons from European experiences, including the coexistence of the IMF and regional safety nets, cooperation issues, systemic …
Persistent link: https://www.econbiz.de/10011635367
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Why are Latin American crises deeper than those in Emerging Asia, including that of COVID-19?
García Herrero, Alicia - 2021
The COVID-19 pandemic has challenged global economies with unparalleled negative shock. Asia and Latin America have gone through a number of financial crises in the last few decades but they have addressed those crises rather differently, leading to different growth trajectories after the...
Persistent link: https://www.econbiz.de/10012490544
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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
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International monetary transmission and exchange rate regimes : floaters vs. non-floaters
Kim, So-yŏng; Yang, Tu-yong - 2009
This paper analyzed the impact of United States (US) monetary shocks on the economies of selected East Asian countries using a structural vector autoregression model. We found that the impacts of the US monetary shocks on domestic interest rates and exchange rates contradict conventional wisdom....
Persistent link: https://www.econbiz.de/10003928020
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Trilemma and financial stability configurations in Asia
Aizenman, Joshua - 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 out that...
Persistent link: https://www.econbiz.de/10009379740
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International monetary reform : a critical appraisal of some proposals
Pak, Yŏng-chŏl; Wyplosz, Charles - 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/10009551416
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Inadequate regional financial safety nets reflect complacency
Azis, Iwan J. - 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 such...
Persistent link: https://www.econbiz.de/10009714528
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Issues for renminbi internationalization : an overview
Eichengreen, Barry; Kawai, Masahiro - 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 internationalization...
Persistent link: https://www.econbiz.de/10010231420