Monetary and financial cooperation in east asia : the state of affairs after the global and european crises / edited by Masahiro Kawai, Yung Chul Park, and Charles Wyplosz.

Format:

Book

Contributor:

Kawai, Masahiro, editor.

Park, Yung Chul, editor.

Wyplosz, Charles, editor.

Language:

English

Subjects (All):

Monetary policy--East Asia--International cooperation.

Monetary policy.

Economic assistance--East Asia.

Economic assistance.

East Asia--Economic integration.

East Asia.

Physical Description:

1 online resource (255 p.)

Edition:

First edition.

Place of Publication:

Oxford : Oxford University Press, 2015.

Language Note:

English

Summary:

The Global Financial Crisis and the Eurozone crisis have led to a profound rethink in East Asia about the international monetary system and regional monetary and financial integration. After the Asian financial crisis of 1997-8, deeper regional cooperation was seen as the way to avoid reliance on the IMF and the rest of the world. Steps were taken, but they were limited because of economic diversity among the countries and regional rivalries. Still, integration into the global financial system and Europe's regional process were seen as objectives to be adapted to East Asia.

Contents:

""Cover""; ""Monetary and Financial Cooperation in East Asia: The State of Affairs after the Global and European Crises""; ""Copyright""; ""Contents""; ""List of Figures""; ""List of Tables""; ""Abbreviations""; ""List of Contributors""; ""1: Introduction""; ""1.1 The US Crisis and Exchange Rate Cooperation""; ""1.2 The European Sovereign Debt Crisis and Monetary Cooperation""; ""1.3 Reserves Pooling""; ""1.4 The Debt Crisis and Foreign Exchange Reserves""; ""1.5 Financial Markets and Renminbi Internationalization""; ""1.6 Crisis and Trade""; ""1.7 Conclusions""; ""References""

""2: Financial and Monetary Cooperation in East Asia""""2.1 Introduction""; ""2.2 Macroeconomic Developments""; ""2.2.1 Pre-Crisis Macroeconomic Conditions""; ""2.2.2 Impacts of the Global Financial Crisis""; ""Trade channel""; ""Financial channel""; ""2.2.3 Economic Stimulus Responses""; ""Monetary policy measures""; ""Fiscal policy measures""; ""2.2.4 Post-Crisis Developments and Challenges""; ""Economic recovery""; ""Progress of economic rebalancing""; ""Macroeconomic policy challenges""; ""2.3 East AsiaÂ?s Trade and Investment and Free-Trade Agreement Initiatives""

""2.3.1 Trade Patterns""""2.3.2 Foreign Direct Investment in East Asia""; ""Patterns of FDI in East Asia""; ""Sources and destinations of FDI""; ""2.3.3 East AsiaÂ?s Free-Trade Agreements""; ""Scope of FTAs""; ""RCEP and TPP""; ""2.4 Regional Financial Cooperation""; ""2.4.1 ERPD and AMRO""; ""2.4.2 Chiang Mai Initiative and its Multilateralization""; ""Chiang Mai Initiative""; ""Chiang Mai Initiative Multilateralization""; ""2.4.3 Asian Bond Market Development""; ""Local-currency bond markets for Asian economies""; ""Development of the Asian bond market""

""Bond market cooperation in East Asia""""2.5 Exchange Rate Policy in East Asia""; ""2.5.1 Exchange Rate Regimes""; ""2.5.2 Efficacy of Currency Floating for Emerging East Asia""; ""2.5.3 Scope for Exchange Rate Policy Coordination""; ""2.6 Conclusion""; ""References""; ""3: International Financial Integration and Crisis Intensity""; ""3.1 Introduction""; ""3.2 Data: Identifying Cross-Country Differences in Crisis Severity""; ""3.3 Results: A Baseline Domestic Model""; ""3.4 Results: How Important are International Financial Linkages?""; ""3.5 Policy Implications and Interpretation""

""3.5.1 Challenges to US-Led Global Financial Stability""""3.5.2 Continued East Asian Monetary and Financial Cooperation: US View""; ""3.6 Summary and Conclusion""; ""Acknowledgments""; ""References""; ""Methodology appendix: Linking incidence and causeswith the MIMIC model""; ""Data appendix""; ""Key data sources""; ""4: Lessons from the European Public Debt Crisis""; ""4.1 Introduction""; ""4.2 General Lessons from the Crisis""; ""4.2.1 Monetary Policy and the Exchange Rate""; ""4.2.2 Monetary Policy in a Low-Inflation Environment""; ""4.2.3 Strategic Dominance""

""4.3 East Asian Exchange Rates during the Crisis""

Notes:

Description based upon print version of record.

Includes bibliographical references at the end of each chapters and index.

Description based on print version record.

Description based on publisher supplied metadata and other sources.

ISBN:

0-19-178257-2

0-19-102358-2

OCLC:

905224223