We examine the role of local currency bond markets (LCBMs) and foreign investor participation in these markets in capital flow volatility in emerging Asian economies over the period 1999 to 2020. Using a panel analysis and impulse response functions generated from a panel structural vector...

The large exchange rate depreciations registered in a number of Asian countries since mid-1997 have raised the issue of whether this could lead to major shifts in the relative costs and prices of production across countries, and hence in the relative competitive positions of OECD and non-OECD...