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Author: Claudia Echeverria Publisher: International Monetary Fund ISBN: 1451857454 Category : Business & Economics Languages : en Pages : 116
Book Description
This paper examines issues in sequencing and pacing capital account liberalization and draws lessons from experience in four countries (Chile, Indonesia, Korea, and Thailand). The paper focuses on the interrelationship between capital account liberalization, domestic financial sector reforms, and the design of monetary and exchange rate policy. It concludes that capital account liberalization should be approached as an integrated part of comprehensive reform strategies and should be paced with the implementation of appropriate macroeconomic and exchange rate policies.
Author: Claudia Echeverria Publisher: International Monetary Fund ISBN: 1451857454 Category : Business & Economics Languages : en Pages : 116
Book Description
This paper examines issues in sequencing and pacing capital account liberalization and draws lessons from experience in four countries (Chile, Indonesia, Korea, and Thailand). The paper focuses on the interrelationship between capital account liberalization, domestic financial sector reforms, and the design of monetary and exchange rate policy. It concludes that capital account liberalization should be approached as an integrated part of comprehensive reform strategies and should be paced with the implementation of appropriate macroeconomic and exchange rate policies.
Author: R. Barry Johnston Publisher: ISBN: Category : Languages : en Pages : 115
Book Description
This paper examines issues in sequencing and pacing capital account liberalization and draws lessons from experience in four countries (Chile, Indonesia, Korea, and Thailand). The paper focuses on the interrelationship between capital account liberalization, domestic financial sector reforms, and the design of monetary and exchange rate policy. It concludes that capital account liberalization should be approached as an integrated part of comprehensive reform strategies and should be paced with the implementation of appropriate macroeconomic and exchange rate policies.
Author: International Monetary Fund Publisher: International Monetary Fund ISBN: 9781557757791 Category : Business & Economics Languages : en Pages : 412
Book Description
Financial sector liberalization can spur economic growth and development, but reforms to liberalize the financial sector can also entail risks if they are not properly designed and implemented. One of the central questions for countries reforming their financial systems is how to sequence the reforms so as to maximize the benefits of liberalization and contain its risks. Edited by R. Barry Johnston and V. Sundararajan of the IMF's Monetary and Exchange Affairs Department, this book attempts to answer this and related questions by drawing lessons from financial sector reforms in selected countries. In particular, the book surveys financial sector reforms in Indonesia, Thailand, and Korea between the mid-1980s and mid-1990s.
Author: Pedro Alba Publisher: World Bank Publications ISBN: Category : Banks and banking Languages : en Pages : 68
Book Description
Thailand's economic crisis in 1997 was fundamentally one of private sector debt, rooted in private behavior that affected the magnitude and composition of investment and how it was financed. Thailand's crisis provides further evidence that financial liberalization must be carefully managed because, by increasing competition, it lowers the franchise value of existing financial institutions and creates incentives for unsound banking practices.
Author: International Monetary Fund Publisher: International Monetary Fund ISBN: 1557757739 Category : Business & Economics Languages : en Pages : 272
Book Description
The World Economic Outlook, published twice a year in English, French, Spanish, and Arabic, presents IMF staff economists analyses of global economic developments during the near and medium term. Chapters give an overview of the world economy; consider issues affecting industrial countries, developing countries, and economies in transition to market; and address topics of pressing current interest. Annexes, boxes, charts, and an extensive statistical appendix augment the text.
Author: Siwei Cheng Publisher: World Scientific ISBN: 9814644676 Category : Business & Economics Languages : en Pages : 395
Book Description
RMB: Towards Internationalization takes an in-depth look at the exchange rate regime of China's currency, the RMB, including the arrangements, related policies and management, and corresponding policy recommendations. This is the first book to apply the theories of fictitious economy, complexity science and the principles of international finance to analyze the RMB exchange rate regime. For readers interested in China's economy in general and RMB internationalization in particular, this book provides an entirely new analytical framework on the history and evolution of RMB exchange regime and on its future development.
Author: Kurtuluş Gemici Publisher: Routledge ISBN: 0429762089 Category : Social Science Languages : en Pages : 216
Book Description
Why did many emerging countries pursue risky financial opening policies in a reckless manner, even after the painful example of the Latin American debt crisis? Unlike trade liberalization, which has mostly been beneficial in emerging countries, the removal of capital controls has led to boom-bust patterns in many countries. It is not simply driven by class or sectoral interests, nor is it just a result of ideational changes in policy-making circles, or international pressure. Gemici argues that to fully understand the motivation for these policies, we need to take into account distributional struggles prior to their enactment. In this book, Gemici shows that conflictual distributional relations significantly increase the likelihood of capital account liberalization. Through in-depth comparative case studies, he also demonstrates that countries which liberalize in the most comprehensive manner tend to be the countries characterized by a high degree of distributional conflict. The case studies – Argentina, Chile, South Korea , and Turkey – have been chosen to maximise variation in distributional relations and to escape regional clustering, showing quite different trajectories of capital account liberalization. This will be of great interest to readers in sociology, international political economy and heterodox economics, as well as specialists in the countries examined.
Author: Age Bakker Publisher: Edward Elgar Publishing ISBN: 9781781957486 Category : Business & Economics Languages : en Pages : 282
Book Description
'This collection provides an excellent account of the diverging ways countries in varying parts of the world went about liberalizing capital flows. Case studies of transition countries are set against the background of more general studies analysing the Asian and Latin American experience, as well as the earlier liberalization processes in economically advanced countries. The reader gets a lively picture of the many pitfalls that beset the road to full capital liberalization and will realise that there is no single best way to liberalize. The authors strike one as unprejudiced and far from dogmatic, out to learn from experience rather than trying to impose some particular point of view.' - Hans Visser, Vrije Universiteit, Amsterdam, The Netherlands This significant new book provides a succinct overview of the essential policy issues surrounding capital liberalization. The book compares the experiences of transition economies in Europe with those of advanced nations, allowing the reader to examine the changing international economic and financial environment within which transition countries have to liberalize.
Author: Masayoshi Tsurumi Publisher: Routledge ISBN: 1351763199 Category : Social Science Languages : en Pages : 342
Book Description
This title was first published in 2001. The east Asian economies enjoyed "miraculous" economic growth in the 1990s, and were expected to prosper into the 21st century. However, this was not to be, there was a financial crash in the summer of 1997. The crisis spread from Thailand to the ASEAN economies, and then by the autumn it had reached the northeast Asian economies. Discussions on the causes of the crisis cover a wide variety of possible culprits: hedge funds, foreign exchange policy, dependence on foreign capital, bubble economies, corporate governance, underdeveloped financial markets, and so on. This book focuses on the Asian financial crisi from the long-term perspective of development of financial reform in Asia. The purpose of this book is to analyze and assess the financial crisis in the different Asian economies by comparing them from the point of view of long-run financial system reform, and to consider the future prospects of financial reform in Asia.
Author: Claudia Echeverria
Author: Claudia Echeverria
Author: R. Barry Johnston
Author: Barry Johnston
Author: International Monetary Fund
Author: Pedro Alba
Author: International Monetary Fund
Author: Siwei Cheng
Author: Kurtuluş Gemici
Author: Age Bakker
Author: Masayoshi Tsurumi