Home

    About

    Open Access Repository

    SearchBrowse by ThemeBrowse by AuthorBrowse by TypeMost Popular Titles

    Other Resources

    Curators

    Events

    Contributing Think Tanks

    Networks

    Using Content

    FAQs

    Terms of Use

    13,800+ curated items from top Think Tanks.
    JavaScript is disabled for your browser. Some features of this site may not work without it.

    Home

    About

    Open Access Repository

    SearchBrowse by ThemeBrowse by AuthorBrowse by TypeMost Popular Titles

    Other Resources

    Curators

    Events

    Contributing Think Tanks

    Networks

    Using Content

    FAQs

    Terms of Use

    Time to Rethink Monetary Policy in Emerging Economies: Touching the tip of an iceberg

    II, Houng Lee; Kyunghun; Kang, Eunjung | March 2016
    Abstract
    The global economy appears to be trapped in a low growth state due to structural impediments that have accumulated over the last two decades. Since the global financial crisis, expansionary macroeconomic policies have provided only temporary relieve but fell short of fundamentally addressing the global demand deficiency. Authorities have gained some time through unconventional monetary policy (QE) but the latter is not without risks. The ongoing normalization in China with respect to investment growth and in the United States with respect to monetary policy should thus be regarded as necessary. Further delay would likely have tipped the balance from a net positive to a net negative effect on the global economy. However, in the short run, there are costs. The slowdown in China played its role in the sharp drop in energy and commodity prices (along with global oil supply conditions), in trade and its associated investment flows. The termination of quantitative easing and the beginning of the rate hike in the United States is tightening liquidity conditions in emerging economies (EMs). The latter is adding burden on EMs who are already struggling to cope with the spillovers from slowing China. Furthermore, if global financial instability lingers on beyond the necessary correction, it could start exerting its own negative influence on the already weak recovery.
    Citation
    II, Houng Lee; Kyunghun; Kang, Eunjung. 2016. Time to Rethink Monetary Policy in Emerging Economies: Touching the tip of an iceberg. © Korea Institute for International Economic Policy. http://hdl.handle.net/11540/9166.
    ISSN
    2233-9140
    Keywords
    Development Economics
    Regional Economic Development
    Economic Impact
    Asian Development Bank
    Development
    Macroeconomic
    Macroeconomic Analysis
    Macroeconomic Framework
    Macroeconomic Models
    Macroeconomic Performance
    Macroeconomic Planning
    Macroeconomic Policies
    Macroeconomic Reform
    Macroeconomic Stabilization
    Economies in transition
    Economic agreements
    Development indicators
    ADB
    Economic development
    Gross domestic product
    Employment
    Economic forecast
    Economic indicators
    Growth models
    Gross domestic product
    Macroeconomics
    Economic forecast
    Social condition
    Economic dependence
    Economic assistance
    Comparative economics
    Regional economics
    Economic development projects
    Open price system
    Price fixing
    Price regulation
    Consumer price indexes
    Financial crisis
    Labor economics
    Regional economics
    Turnover
    Economic survey
    Show allCollapse
    Citable URI
    http://hdl.handle.net/11540/9166
    Metadata
    Show full item record
    Thumbnail
    WEU16-06.pdf (886.7Kb)
    Author
    II, Houng Lee
    Kyunghun
    Kang, Eunjung
    Theme
    Economics
    Development
     
    Copyright 2016-2021 Asian Development Bank Institute, except as explicitly marked otherwise
    Copyright 2016-2021 Asian Development Bank Institute, except as explicitly marked otherwise