This paper studies the unusual features of emerging economy business cycles in Asia. When we assess whether approaches from the previous literature can explain Asian business cycles, we conclude that standard models based on permanent growth shocks do not replicate key features of Asian business...

Using timeseries and panel data from 1981 to 2005, this paper examines the Granger causality relations between GDP, exports, and FDI among the three first generation Asian newly industrializing economies (ANIEs) : Korea, Taiwan, Singapore, and the four second generation Asian newly...

This paper examines the viability or appropriateness of two polar solutions, especially free-floating regime for developing countries. To do so, we investigate the Korean financial markets, which provide interesting case, utilizing multivariate GARCH and various VSR (Vector Auto-Regression)...

E-finance in Korea has evolved since the late 1980s, when developments in information and telecommunication technology started to be applied to the financial industry. Since the 1990s, e-finance has led a paradigm shift in the financial industry as financial transactions in computer-based tools...

Capital controls have recently attracted interest as capital surges in emerging market economies threaten to bring about economic instability and heighten difficulties in implementing macroeconomic policies. While an option that can be taken to deal with huge capital inflows involves the use of...

This paper analyzes the effects of external shocks on emerging Asian economies. Since the Asian crisis of 1997–1998, the impact of external shocks on regional economies has grown important in the Asian business cycles as well as in the decision-making process of macroeconomic policies, as...