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Managing Capital Flows and Exchange Rates : Perspectives from the Pacific Basin - Reuven Glick

Managing Capital Flows and Exchange Rates

Perspectives from the Pacific Basin

By: Reuven Glick (Editor)

Hardcover Published: 13th June 1998
ISBN: 9780521623230
Number Of Pages: 526

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Emerging economies have been the beneficiaries of sharply increased volumes of international capital inflows in the past decade. These inflows have eased foreign financing constraints and offered the potential for higher investment and growth. At the same time, they have posed challenges for policy makers by threatening to fuel inflation, adversely affect international competitiveness, and undermine domestic banking stability. The essays in this volume provide a timely and useful comparison of the experiences of emerging Pacific Basin countries in both Asia and Latin America.

"This is a very timely book that brings the reader to the forefront of current research on macroeconomic policy issues in economies subject to sizable capital flows. The papers were written before the recent Asian crises but the analyses, done by top-flight experts, summarize what is known on the subject. I strongly recommend the book both to professional economists and policy makers involved with these types of countries. Although the papers do not stay away from addressing occasionally technical points, the collection has sharp focus on highly relevant policy issues." Guillermo A. Calvo, University of Maryland "A truly prescient book. With the crises in Thailand, Indonesia and Korea, Asian exchange rates and capital flows are the topics of the day. This book provides the essential background for any economist seeking to understand it." Barry Eichengreen, University of California, Berkeley "An unusually well-thought out collection of high-caliber essays on the most pressing international economic policy problem of our time. Head and shoulders above the usual conference volume." Kenneth Rogoff, Princeton University "The essays in this volume...give a comprehensive analysis of the theoretical and policy issues related to international capital flows and exchange rates for developing economies in the Pacific Basin." Macroeconomics

Managing capital flows and exchange rates: overview
Determinants of Capital Flows and Exchange Rates
US portfolio investment in Asian capital markets
FDI, trade, and real exchange rate linkages in developing countries
Capital inflows and the real exchange rate: analytical framework and econometric evidence
Risk and financial development: a comparative case study of Mexico and Indonesia
Exchange Rate Crisis and Contagion
Exchange rate instability: determinants and predictability
Derivative products in exchange rate crisis
Crisis, contagion, and country funds: effects on East Asia and Latin America
Co-movements among emerging equity markets
Effects of Capital Inflows
Net capital inflows: how much to accept, how much to resist?
The overborrowing syndrome: are East Asian economies different?
Capital inflows, financial intermediation, and aggregate demand: empirical evidence from Mexico and other Pacific Basin countries
Policy Responses to Capital Inflows
Speculative capital inflows and exchange rates targeting in the Pacific Basin: theory and evidence
Too much of a good thing: the macroeconomic effects of taxing capital inflows
Exchange rate policies and capital account management: Chile in the 1990s
Table of Contents provided by Publisher. All Rights Reserved.

ISBN: 9780521623230
ISBN-10: 0521623235
Audience: Tertiary; University or College
Format: Hardcover
Language: English
Number Of Pages: 526
Published: 13th June 1998
Publisher: Cambridge University Press
Country of Publication: GB
Dimensions (cm): 22.8 x 15.2  x 3.3
Weight (kg): 0.91