International Financial Issues in the Pacific Rim
Global Imbalances, Financial Liberalization, and Exchange Rate Policy
1st Edition
Published on 15. September 2008
441 pages
978-0-226-38708-6 (ISBN)
Description
The imbalanced, yet mutually beneficial, trading relationship between the United States and Asia has long been one of international finance's most perplexing mysteries. Although the United States continues to post a substantial trade deficit-and China reaps the benefits of a surplus-the dollar has yet to sink in the face of ever-increasing account disparities. International Financial Issues in the Pacific Rim explains why the United States enjoys a seemingly symbiotic relationship with its trading partners despite stark inequities in the trade balance, especially with Asia. This timely and well-informed study also debunks the assumed link between economic openness and low inflation in the region, identifies the serious gap between academic and private-sector researchers' understanding of exchange rate volatility, and analyzes the liberalization of Asian capital accounts. International Financial Issues in the Pacific Rim will have broad implications for global trade and economic policy issues in Asia and beyond.
More details
Other editions
Additional editions
Takatoshi Ito | Andrew K. Rose
International Financial Issues in the Pacific Rim
Global Imbalances, Financial Liberalization, and Exchange Rate Policy
Book
08/2008
University of Chicago Press
€128.75
Article not available at the moment
Content
- Intro
- Contents
- Acknowledgments
- Introduction - Takatoshi Ito and Andrew K. Rose
- I. GLOBAL IMBALANCES
- 1. Life on the Tri-Polar Sphere: How Should Interest and Exchange Rates Realign Next? - Michael P. Dooley, David Folkerts-Landau, and Peter Garber Comment: John Simon
- 2. Liquidity Risk Aversion, Debt Maturity, and Current Account Surpluses: A Theory and Evidence from East Asia - Shin-ichi Fukuda and Yoshifumi Kon Comment: Linda S. Goldberg Comment: Andrew K. Rose
- 3. Are Currency Appreciations Contractionary in China? - Jianhuai Shi Comment: Ashvin Ahuja Comment: Dante B. Canlas
- II. MONETARY POLICY AND EXCHANGE RATES
- 4. The Relationship between Openness and Inflation in NIEs and the G7 - Chung-Shu Wu and Jin-Lung Lin Comment: Peter Blair Henry Comment: John Simon
- 5. Pass-Through of Exchange Rates to Consumption Prices: What Has Changed and Why? - José Manuel Campa and Linda S. Goldberg Comment: M. Chatib Basri Comment: Kiyotaka Sato
- 6. Price Impacts of Deals and Predictability of the Exchange Rate Movements - Takatoshi Ito and Yuko Hashimoto Comment: Eli Remolona
- 7. Adopting a Common Currency Basket Arrangement into the ASEAN Plus Three - Eiji Ogawa and Kentaro Kawasaki Comment: Michael P. Dooley Comment: Kiyotaka Sato
- III. LIBERALIZATION, MARKET ACCESS, AND THE COST OF CAPITAL
- 8. Growth and Returns in Emerging Markets - Peter Blair Henry and Prakash Kannan Comment: Takatoshi Ito Comment: Etsuro Shioji
- 9. Bond Markets as Conduits for Capital Flows: How Does Asia Compare? - Barry Eichengreen and Pipat Luengnaruemitchai Comment: Eiji Ogawa
- 10. Financial Liberalization under the WTO and Its Relationship with the Macro Economy - Lee-Rong Wang, Chung-Hua Shen, and Ching-Yang Liang Comment: Shin-ichi Fukuda Comment: Roberto S. Mariano
- 11. Cross-Border Acquisitions and Target Firms' Performance: Evidence from Japanese Firm-Level Data - Kyoji Fukao, Keiko Ito, Hyeog Ug Kwon, and Miho Takizawa Comment: M. Chatib Basri Comment: Roberto S. Mariano
- 12. Stock Market Opening and the Cost of Capital: The Case of Korea - Inseok Shin and Chang-Gyun Park Comment: Yuko Hashimoto Comment: Chulsoo Kim
- Contributors
- Author Index
- Subject Index
