Author: Kenneth J. Singleton Publisher: University of Chicago Press ISBN: 0226760685 Category : Business & Economics Languages : en Pages : 208
Book Description
How has the Bank of Japan (BOJ) helped shape Japan's economic growth during the past two decades? This book comprehensively explores the relations between financial market liberalization and BOJ policies and examines the ways in which these policies promoted economic growth in the 1980s. The authors argue that the structure of Japan's financial markets, particularly restrictions on money-market transactions and the key role of commercial banks in financing corporate investments, allowed the BOJ to influence Japan's economic success. The first two chapters provide the most in-depth English-language discussion of the BOJ's operating procedures and policymaker's views about how BOJ actions affect the Japanese business cycle. Chapter three explores the impact of the BOJ's distinctive window guidance policy on corporate investment, while chapter four looks at how monetary policy affects the term structure of interest rates in Japan. The final two chapters examine the overall effect of monetary policy on real aggregate economic activity. This volume will prove invaluable not only to economists interested in the technical operating procedures of the BOJ, but also to those interested in the Japanese economy and in the operation and outcome of monetary reform in general.
Author: Takatoshi Ito Publisher: University of Chicago Press ISBN: 0226387062 Category : Business & Economics Languages : en Pages : 471
Book Description
Managing fiscal policy—the revenues and spending of an individual nation—is among the most challenging tasks facing governments. Wealthy countries are constrained by complex regulation and taxation policies, while developing nations often face high inflation and trade taxes. In this volume, esteemed economists Takatoshi Ito and Andrew K. Rose, along with other leading experts, examine the problems and challenges facing public finance in East Asian developing countries as well as the United States and Japan. Fiscal Policy and Management in East Asia explores the inefficient tax systems of many developing countries, the relationship between public and private sector economic behavior, and the pressing issue of future obligations that governments have undertaken to provide pensions and health care for their citizens. Featuring both overviews and analyses of the countries discussed, this book will be of value to economists and policymakers seeking to understand fiscal policy in a global context.
Author: Masahiro Kawai Publisher: Edward Elgar Publishing ISBN: 0857933353 Category : Business & Economics Languages : en Pages : 321
Book Description
Asian economies strengthened their monetary and currency management after the Asian financial crisis of 19971998, and came through the global financial crisis of 20072009 relatively well. Nevertheless, the recent global crisis has presented new challenges. This book develops recommendations for monetary and currency policy in Asian economies aimed at promoting macroeconomic and financial stability in an environment of global economic shocks and volatile capital flows. Monetary and Currency Policy Management in Asia draws lessons from crises and makes concrete macroeconomic policy recommendations aimed at minimizing the impacts of an economic and financial downturn, and setting the stage for an early return to sustainable growth. The focus is on short-term measures related to the cycle. The three main areas addressed are: monetary policy measures, both conventional and unconventional, to achieve both macroeconomic and financial stability; exchange rate policy and foreign exchange reserve management, including the potential for regional cooperation to stabilize currency movements; and ways to ease the constraints on policy resulting from the so-called 'impossible trinity' of fixed exchange rates, open capital accounts and independent monetary policy. This is one of the first books since the global financial crisis to specifically and comprehensively address the implications of the crisis for monetary and currency policy in emerging market economies, especially in Asia. Presenting a broad menu of policy options for financial reform and regulation, the book will be of great interest to finance experts and policymakers in the region as well as academics and researchers of financial and Asian economics as well as economic development.
Author: Takatoshi Ito Publisher: University of Chicago Press ISBN: 0226386880 Category : Business & Economics Languages : en Pages : 403
Book Description
Recent studies show that almost all industrial countries have experienced dramatic decreases in both fertility and mortality rates. This situation has led to aging societies with economies that suffer from both a decline in the working population and a rise in fiscal deficits linked to increased government spending. East Asia exemplifies these trends, and this volume offers an in-depth look at how long-term demographic transitions have taken shape there and how they have affected the economy in the region. The Economic Consequences of Demographic Change in East Asia assembles a group of experts to explore such topics as comparative demographic change, population aging, the rising cost of health care, and specific policy concerns in individual countries. The volume provides an overview of economic growth in East Asia as well as more specific studies on Japan, Korea, China, and Hong Kong. Offering important insights into the causes and consequences of this transition, this book will benefit students, researchers, and policy makers focused on East Asia as well as anyone concerned with similar trends elsewhere in the world.
Author: Ross Garnaut Publisher: ANU E Press ISBN: 1921536977 Category : Political Science Languages : en Pages : 486
Book Description
The world and China's place in it have been transformed over the past year. The pressures for change have come from the most severe global financial crisis ever. The crisis has accelerated China's emergence as a great power. But China and its global partners have yet to think or work through the consequences of its new position for the governance of world affairs. China's New Place in a World in Crisis discusses and provides in-depth analysis of the following questions. How have China's growth prospects been affected by the global crisis? How will the crisis and China's response to it impact China's major domestic issues, such as industrialisation, urbanisation and the reform of the state-owned sector of the economy? How will the crisis and the international community's response to it affect the rapidly emerging new international order? What will be China's, and other major developing countries', new role? Can China and the world find a way of breaking the nexus between economic growth and environmental sustainability - especially on the issue of climate change?
Author: Richard Hemming Publisher: International Monetary Fund ISBN: Category : Business & Economics Languages : en Pages : 62
Book Description
This paper reviews the theoretical and empirical literature on the effectiveness of fiscal policy. The focus is on the size of fiscal multipliers, and on the possibility that multipliers can turn negative (i.e., that fiscal contractions can be expansionary). The paper concludes that fiscal multipliers are overwhelmingly positive but small. However, there is some evidence of negative fiscal multipliers.
Author: Simon J. Evenett Publisher: World Bank Publications ISBN: 0821383426 Category : Political Science Languages : en Pages : 227
Book Description
East Asian economies of the 1980s and much of the 1990s were among the most competitive exporters of manufactured products and were also able to sustain growth rates far higher than those of other countries, developing or industrial. However, the economic crisis of 1997-98 impacted the economies of these countries. Although recovery began fairly quickly in some countries, others have yet to regain their growth momentum. 'Can East Asia Compete?' looks at whether or not East Asia can restore its near magical performance, or is its competitive strength beginning to wane. This volume argues that East Asian countries have far from exhausted their growth potential. However, future competitiveness will depend on much greater innovative capability in manufacturing and services, innovativeness that is grounded in stronger institutions, improved macroeconomic policies, and closer regional coordination. 'Can East Asia Compete?' clearly summarizes the issues currently being debated and provides guidance to East Asian economies on how to deal with the policy concerns that lie ahead.
Author: Mr.J. D. Craig Publisher: International Monetary Fund ISBN: 155775697X Category : Business & Economics Languages : en Pages : 50
Book Description
Transparency in government operations is widely regarded as an important precondition for macroeconomic fiscal sustainability, good governance, and overall fiscal rectitude. Notably, the Interim Committee, at its April and September 1996 meetings, stressed the need for greater fiscal transparency. Prompted by these concerns, this paper represents a first attempt to address many of the aspects of transparency in government operations. It provides an overview of major issues in fiscal transparency and examines the IMF's role in promoting transparency in government operations.
Author: World Bank Publisher: World Bank Publications ISBN: 1464804702 Category : Social Science Languages : en Pages : 287
Book Description
Aging is a challenge which countries in East Asia and Pacific (EAP) regions are grappling with or will soon confront. It raises many questions for policymakers ranging from potential macroeconomic impacts, to fiscal challenges of supporting pension, health and long-term care systems, and labor market implications as countries seek to promote productive aging. The urgency of the aging challenge varies across the region, but it will confront all EAP countries in time and early preparation is essential to avoid the missteps of other regions. Live Long and Prosper discusses the societal and public policy challenges and reform options for EAP countries as they address aging. It aims to strike a balance between aging optimists and pessimists. On the one hand, the impacts of aging on growth, labor markets and public spending are not the unavoidable catastrophe often feared. However, minimizing the downside risks of aging and ensuring healthy and productive aging will require proactive public policy, political leadership, and new mindsets across society. The report reviews the evidence on demographic transition in EAP and its potential macroeconomic impact. It addresses the current policy environment including pensions and social security, health, and long-term care and labor markets to assess the risks of 'business as usual'. It also suggests policy directions to promote healthy and productive aging in EAP, and emphasizes that aging is not just about older people, but requires policy and behavioral change across the life cycle.
Author: Joseph E. Stiglitz Publisher: World Bank Publications ISBN: 0195216008 Category : Political Science Languages : en Pages : 538
Book Description
This volume provides highly illuminating, analytic perspectives on key facets of the East Asian economies. It discusses weaknesses in the financial sector, corporate governance, exchange rate and trade policies, regulatory capability, and proposes remedies. Rethinking the East Asian Miracle is an indispensable book for all those with an interest in East Asia's prospects in the early decades of the new century.
Author: Kenneth J. Singleton
Author: Takatoshi Ito
Author: Masahiro Kawai
Author: Takatoshi Ito
Author: Ross Garnaut
Author: Richard Hemming
Author: Simon J. Evenett
Author: Mr.J. D. Craig
Author: World Bank
Author: Joseph E. Stiglitz