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Reform of the international financial architecture : an Asian perspective

Kawai, Masahiro - 2009

architecture remains inadequate for the needs of many emerging market economies. The effectiveness of IMF surveillance … powerful Financial Stability Board, and augmenting the financial resources of the IMF. However, the international financial … surveillance mechanisms. The region should also intensify regional exchange rate policy coordination to achieve sustained economic …

Persistent link: https://www.econbiz.de/10003901587

Thailand's growth rebalancing

Jitsuchon, Somchai; Chalongphob Sussangkarn - 2009

This paper reviews Thailand's structural changes, the 1997 crisis experience, and recovery and lessons from the crisis. The paper then discusses the impacts of the subprime crisis on the Thai economy and the policy responses to date. The paper ends by discussing strategies to rebalance growth by...

Persistent link: https://www.econbiz.de/10003901450

Paths to a reserve currency : internationalization of the renminbi and Its implications

Huang, Yiping; Wang, Daili; Fan, Gang - 2014

In this paper we try to address the question of what could help make the renminbi a reserve currency. In recent years, the authorities in the People's Republic of China (PRC) have made efforts to internationalize its currency through a two-track strategy: promotion of the use of the renminbi in...

Persistent link: https://www.econbiz.de/10010355692

Regional financial arrangements and the International Monetary Fund

Eichengreen, Barry - 2012

surveillance efforts. This paper reviews how the IMF has responded to earlier regional initiatives, from the European Payments …The rise of regional monetary arrangements poses a challenge for the International Monetary Fund (IMF)'s global …

Persistent link: https://www.econbiz.de/10009667240

Crises, capital controls, and financial integration

Levy Yeyati, Eduardo; Schmukler, Sergio L.; Horen, … - 2008

This paper analyzes the effects of capital controls and crises on financial integration, using stocks from emerging economies that trade in both domestic and international markets. The cross-market premium (the ratio between the domestic and the international market price of cross-listed stocks)...

Persistent link: https://www.econbiz.de/10003855387

Dynamic analysis of exchange rate regimes : policy implications for emerging countries in Asia

Yoshino, Naoyuki; Kaji, Sahoko; Asonuma, Tamon - 2014

This paper discusses desirable exchange rate regimes and how countries can shift from their current regimes to these regimes over the medium term. We demonstrate the superiority of a basket-peg regime with the basket weight rule over a floating regime with the interest rate rule or the money...

Persistent link: https://www.econbiz.de/10010420010

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

Exchange rates, international trade, and growth : re-evaluation of undervaluation

Sokolova, Maria V. - 2017 - This version: November 2016

This paper shows that regional trade integration shifts the burden of the exchange rate adjustment towards the less integrated trading partners. Thus, they bear the cost of trade balance expansion, while competitive exchange rate moves vis-a-vis RTA trading partners result in no expansion or...

Persistent link: https://www.econbiz.de/10011615589

America's financial crisis : the end of an era

Bosworth, Barry; Flaaen, Aaron - 2009

This paper reviews research on the origins of the financial crisis of 2008–2009, highlights the key events that triggered a financial panic in September 2008, and summarizes the extraordinary policy actions the United States (US) has taken to ameliorate the crisis. We discuss the proximate...

Persistent link: https://www.econbiz.de/10003901375

Malaysia and the global crisis : impact, response, rebalancing strategies

Shankaran Nambiar - 2009

The economic crisis that began in the United States had an effect on the developed world, including the European Union, Japan, and Singapore. The downturn of the economy in the United States, coupled with developments in the European Union, Japan, and Singapore, has affected the Malaysian...

Persistent link: https://www.econbiz.de/10003901404

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