This paper argues that inflation targeting should not be defined too narrowly. The principal objective of a sound monetary policy, namely to provide a credible nominal anchor for the economy, can be achieved with a variety of institutional structures and operational frameworks. It is essential,...

Financial integration in East Asia is actively being pursued and will in due course lead to substantial mobility of capital between economies in the region. Plans for monetary cooperation as a prelude to monetary integration and ultimately monetary unification are also proposed. These plans...

Financial integration in Ease Asia is actively being pursued and will in due course lead to substantial mobility of capital between economies in the region. Plans for monetary cooperation as a prelude to monetary integration and ultimately monetary unification are also proposed. These plans...