Books > Business & Economics > Economics > Development economics
|
Buy Now
Rebalancing Economies in Financially Integrating East Asia (Hardcover)
Loot Price: R4,841
Discovery Miles 48 410
|
|
Rebalancing Economies in Financially Integrating East Asia (Hardcover)
Series: Routledge-ERIA Studies in Development Economics
Expected to ship within 12 - 17 working days
|
Since the Asian Financial Crisis (AFC) of 1997-98 large current
account surpluses have accumulated in the countries of Asia and the
Pacific with corresponding deficits elsewhere. The sharp plunge in
global trade volumes during the global financial crisis has
highlighted the need for 'rebalancing'-focussing more on domestic
sources of economic growth than on exports in some Asian economies.
One key objective of the book is to elucidate the economic
structures and policies that give rise to current account surpluses
and imbalances and consider what policy adjustments could change
them. Another objective is to show the link between financial
systems, financial integration and the transmission of economic
shocks between countries. The book offers new dimensions to
understand 'rebalancing' and provides alternative and arguably more
fundamental solutions to address imbalances. Rather than focusing
on exchange rate misalignment, this book begins from the premise
that the imbalances are a macroeconomic problem that reflects a
mismatch between savings and investment in the surplus countries.
Then, it examines exchange rate policies adopted by countries in
the region and finds that part of the explanation for their
currency strategy lies in their perceived need to build foreign
exchange reserves to provide a buffer in case of instabilities. The
book examines whether there are other possibilities for countries
to insure against economic volatility by more actively and openly
engaging with international capital markets. The studies show that
closer financial integration, involving more open financial
markets, with well-chosen partners, would be welfare-improving and
should reduce the need for the counter-productive, self-insurance
policies that result in foreign exchange accumulation.
General
Is the information for this product incomplete, wrong or inappropriate?
Let us know about it.
Does this product have an incorrect or missing image?
Send us a new image.
Is this product missing categories?
Add more categories.
Review This Product
No reviews yet - be the first to create one!
|
You might also like..
|
Email address subscribed successfully.
A activation email has been sent to you.
Please click the link in that email to activate your subscription.