Managing Capital Flows provides analyses designed to help policymakers develop a framework for managing capital flows that is consistent with prudent macroeconomic and financial sector stability.

East Asia's Monetary Future is an illuminating and valuable work which uniquely focuses on a long-term monetary view of the region. There are multiple and varied future scenarios which can be applied to this region – an enlarged Singapore–Brunei currency area, a greater China monetary bloc...

This paper analyzes the joint determination of the exchange rate and the interest rate in a signal extraction framework. In principle, a given disturbance should generate a systematic relationship between the exchange rate and the interest rate, as two endogenous variables, in the context of any...

The paper explores the nature of macroeconomic interdependence in post-crisis Asia. Empirical evidence suggests that, relative to the pre-crisis period, output and price correlations in Asia have increased and the output and price impacts of shocks originating within the region have risen. This...

Responding to the severe negative impact of the recent global financial crisis, many Asian economies resorted to substantial easing of macroeconomic policies. This policy brief reviews the principal policy measures implemented, examines the issues that have emerged from this extraordinary...

The recovery of the Asia-Pacific from the global economic crisis of 2008-09 is underway but incomplete. Despite encouraging progress, major risks remain, ranging from slow growth and persistent unemployment to reemerging global imbalances and renewed financial volatility. The policies that...

The paper uses the emerging ASEAN Economic Community as a motivation to explore the issue of capital flow management in an economic community. Although there is an increasingly shared view that capital flow management measures should be part of the routine policy toolkit of emerging market...

This report evaluates the role of the IMF in Argentina during 1991-2001, focusing particularly on the period of crisis management from 2000 until early 2002. The primary purpose of the evaluation is to draw lessons for the IMF in its future operational work. The evaluation suggests ten lessons,...