Adjustments of Capital Account Restrictions and Exchange Rate Regimes in East Asia
Yoshino, Naoyuki; Kaji, Sahoko; Asonuma, Tamon | March 2015
Abstract
This paper discusses adjustments of capital account restrictions and exchange rate regimes in East Asia. Monetary authorities have two options for these adjustments: gradual adjustments or rapid adjustments. We analyze the costs and benefits for both adjustment options in each area, i.e., capital account restrictions and exchange rate regime. The paper provides prominent country cases for each adjustment option to emphasize the benefits for policymakers. We then propose four transition policy options for East Asian countries aiming to relax capital account restrictions and increase flexibility in exchange rates from fixed regimes with capital account controls.
Citation
Yoshino, Naoyuki; Kaji, Sahoko; Asonuma, Tamon. 2015. Adjustments of Capital Account Restrictions and Exchange Rate Regimes in East Asia. © Asian Development Bank Institute. http://hdl.handle.net/11540/9636.Keywords
Macroeconomic
Macroeconomic Analysis
Macroeconomic Framework
Macroeconomic Models
Macroeconomic Performance
Macroeconomic Planning
Macroeconomic Policies
Macroeconomic Reform
Macroeconomic Stabilization
Results-Based Monitoring And Evaluation
Project Evaluation & Review Technique
Project Evaluation
Program Evaluation
Performance Evaluation
Operations Evaluation
Evaluation Methods
Evaluation
Social condition
Economic dependence
Economic assistance
International monetary relations
International monetary relations
International trade
National accounting
Market
Project impact
Development projects
Program management
Performance appraisal
Project appraisal
Technology assessment
Economic indicators
Growth models
Gross domestic product
Macroeconomics
Economic forecast
Exports
Exports
Exchange
Comparative economics
Index number
Monetary policy
Value analysis
Adjustment cost
Transaction cost
Conditionality
International relations
Cumulative effects assessment
Grievance procedures
Participatory monitoring and evaluation
Exchange rate
Economic development projects
Economic policy
Economic forecasting
Exchange rates
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