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Although most CIS and East Asian countries are de jure classified as free floaters, they de facto pursue (tight) dollar pegs. This paper emphasizes dollar denomination of shortterm and long-term payment flows as reasons for exchange rate stabilization. Based on the analysis of ‚competitive...
Persistent link: https://www.econbiz.de/10010295455
This paper discusses mechanisms to prevent and resolve foreign exchange crises in East Asia. Policies and mechanisms at the country level as well as regional and global levels are discussed. Policies at the level of a particular country to prevent foreign exchange crises include the management...
Persistent link: https://www.econbiz.de/10010397260
Many economists believe that the nature of exchange rate management was an important reason for rapid economic growth in East Asia. In this view, Asian countries avoided extreme exchange rate appreciations and kept their nominal exchange rates close to market clearing levels. In contrast, the...
Persistent link: https://www.econbiz.de/10011807188
This paper provides an account of the resort in recent years by governments in the Asia Pacific region to discrimination against foreign commercial interests. As in previous systemic economic crises, policymakers altered the mix of discriminatory policies employed. This time around governments...
Persistent link: https://www.econbiz.de/10010397297
The Asia and Pacific region and Latin American and Caribbean region are two regions divided not only by vast geographic distance, but also by disparities in economics, politics, culture, and history. Most recently, a number of forums explored the possibility of closing such gaps and linking the...
Persistent link: https://www.econbiz.de/10011421168
Unterschiedliche Startbedingungen und Entscheidungsmechanismen regionaler Integration in Europa und Ostasien werden … und mit der Gefahr einer Überexpansion. Ostasien besitzt noch liquidere Mechanismen. Damit konnte es sein ökonomisches … Ebene reagiert Ostasien auf verschiedene Weise, erhöht aber die Intransparenz. Beide Regionen haben bisher ihre potenziellen …
Persistent link: https://www.econbiz.de/10010296981
The discussion paper summarizes the results of a workshop that focussed on the institutional foundations of innovation and competitiveness in East Asia. The following papers are contained: 'Transitional Institutions, Institutional Complementarities and Economic Performance in China. A "Varieties...
Persistent link: https://www.econbiz.de/10010302335
With globalization and advances in information and communication technology (ICT) leading to growing international production sharing, amidst the increasing trend in preferential trading arrangements (PTAs), rules of origin (ROO) has been beset with difficult recurring issues. First and foremost...
Persistent link: https://www.econbiz.de/10011421109
In moving toward the East Asian vision of a community, a rational, enabling regime of rules of origin (ROOs) that would encourage deeper economic integration and shared prosperity should be established. This means a set of ROOs that is trade facilitating even as it attempts to prevent trade...
Persistent link: https://www.econbiz.de/10011421112
This paper distills some policy lessons from the financial services integration program in the European Union for East Asia. Focusing on the improved cross-border facilitation of financial flows rather than on general macroeconomic factors related to optimal currency area formation, the paper...
Persistent link: https://www.econbiz.de/10011421122