Exchange Rate Regimes and Macroeconomic Management in Asia

Tony Cavoli and Ramkishen S. Rajan

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• Published: May 2009
• Subject Listing: Asian Studies, Economics
• Bibliographic information: 220 pp., 6 x 9 in.
• Territorial rights: North American rights only
• Distributed for: Hong Kong University Press
• Contents

With the rise of China, India and the re-emergence of East Asia from the financial crisis of 1997-98, monetary issues in Asia have acquired great significance as the region holds the largest reserves in the world and consequently plays a major role in the global macro-economy. In addition, there are also a great variety of monetary policy regimes at play in the region - reflecting each country's needs and policy preferences. This volume explores monetary, exchange rate and macroeconomic policies in Asia.

A particular question that is analysed is Asia's experience since the crisis with the use of monetary policy to manage the resurgence in capital inflows. It also examines the theoretical and policy issues associated with international capital flows, the increasing degree of integration of financial markets and exchange rates for emerging Asian economies.

The book is unique in focussing on China, India, and Southeast Asia, rather than just having a sub-regional or country-specific focus. Rigorous empirical analysis is applied to important practical policy issues. The book also provides accessible overviews of recent research relevant to the questions that are explored and is written throughout in a manner that is accessible to policy makers, students, and business / financial journalists.

Tony Cavoli is teaching at the University of South Australia. Ramkishen S. Rajan is Associate Professor in George Mason University, Virginia.

Foreword by Robert Nield
Foreword by Diana Lary and Bernard Luk
Preface
Acknowledgements
Editorial Conventions
Genealogical Tables

1. Roots
2. Baptism by Fire
3. Hong Kong after the War
4. Hang Seng Bank
5. New China
6. Home and Country

Appendix I: The Chinese Gold and Silver Exchange Society
Appendix II: The Hang Send Index
Appendix III: The Teachings of Chairman Ho
Appendix IV: Quotations, Sayings and Slogans in Chinese

Glossary
Sources
Index