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Asia Confronts the Impossible Trinity

dc.contributor.authorIla Patnaik
dc.contributor.authorAjay Shah
dc.date.accessioned2015-04-10T10:16:54Z
dc.date.available2015-04-10T10:16:54Z
dc.date.issued2010-02-15
dc.identifier.urihttp://hdl.handle.net/11540/3792
dc.description.abstractIn this paper, we examine capital account openness and exchange rate flexibility in 11 Asian economies. Asia has made slow progress in de jure capital account openness, but has made much more progress in de facto capital account openness. While there has been a gradual increase in exchange rate flexibility, most Asian economies continue to have largely inflexible exchange rates. This combination of advancing de facto capital account integration without greater exchange rate flexibility has led to procyclical monetary policy, when capital flows are procyclical. This paper emphasises the need for a consistent monetary policy framework.
dc.languageEnglish
dc.publisherAsian Development Bank
dc.rightsCC BY 3.0 IGO
dc.rights.urihttp://creativecommons.org/licenses/by/3.0/igo
dc.titleAsia Confronts the Impossible Trinity
dc.typeWorking Papers
dc.subject.expertDevelopment
dc.subject.expertFinance
dc.subject.expertDevelopment Challenges
dc.subject.expertDevelopment Issues
dc.subject.expertDevelopment Problems
dc.subject.expertMicroenterprises Finance
dc.subject.expertCommercial Finance Companies
dc.subject.expertEnterprise Financing
dc.subject.expertFinancial Analysis
dc.subject.expertBanking Finance And Investment
dc.subject.adbADB
dc.subject.adbProject finance
dc.subject.adbDevelopment plans
dc.subject.adbStrategic planning
dc.subject.adbBusiness Financing
dc.subject.adbInvestment Requirements
dc.subject.adbInsurance Companies
dc.subject.adbInternational Monetary Relations
dc.subject.adbInternational Financial Market
dc.subject.adbExchange Rate
dc.subject.naturalInsurers
dc.subject.naturalInsurance stocks
dc.subject.naturalInsurance holding companies
dc.subject.naturalInsurance carriers
dc.subject.naturalInsurance agencies
dc.subject.naturalBusiness subsidies
dc.subject.naturalInvestment companies
dc.subject.naturalInternational banks and banking
dc.subject.naturalStock exchanges
dc.subject.naturalGrants
dc.subject.naturalLoans
dc.title.seriesADBI Working Paper Series
dc.title.volume204
dc.contributor.imprintAsian Development Bank
oar.themeDevelopment
oar.themeFinance
oar.adminregionAsia and the Pacific Region
oar.countryBangladesh
oar.countryBhutan
oar.countryIndia
oar.countryMaldives
oar.countryNepal
oar.countrySri Lanka
oar.countryBrunei Darussalam
oar.countryCambodia
oar.countryIndonesia
oar.countryLao People's Democratic
oar.countryMalaysia
oar.countryMyanmar
oar.countryPhilippines
oar.countrySingapore
oar.countryThailand
oar.countryViet Nam
oar.countryCook Islands
oar.countryFiji Islands
oar.countryKiribati
oar.countryMarshall Islands
oar.countryFederated States of Micronesia
oar.countryNauru
oar.countryPalau
oar.countryPapua New Guinea
oar.countrySamoa
oar.countrySolomon Islands
oar.countryTimor-Leste
oar.countryTonga
oar.countryTuvalu
oar.countryVanuatu
oar.countryAfghanistan
oar.countryArmenia
oar.countryAzerbaijan
oar.countryGeorgia
oar.countryKazakhstan
oar.countryKyrgyz Republic
oar.countryPakistan
oar.countryTajikistan
oar.countryTurkmenistan
oar.countryUzbekistan
oar.countryPeople's Republic of China
oar.countryHong Kong
oar.countryChina
oar.countryRepublic of Korea
oar.countryMongolia
oar.countryTaipei,China
oar.identifierOAR-004185
oar.authorPatnaik, Ila
oar.authorShah, Ajay
oar.importtrue
oar.googlescholar.linkpresenttrue


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  • ADBI Working Papers
    The Asian Development Bank Institute (ADBI) Working Paper series is a continuation of the formerly named Discussion Paper series which began in January 2003. The numbering of the papers continued without interruption or change. ADBI was established in 1997 in Tokyo, Japan, to help build capacity, skills, and knowledge related to poverty reduction and other areas that support long-term growth and competitiveness in developing economies in Asia and the Pacific.

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