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adjustment to the postcrisis challenges. We point out that emerging Asia has converged to a middle ground of the trilemma … smoother adjustment of emerging Asia to the crisis, and was instrumental in inducing the rapid resumption of growth. The swings … challenges facing emerging Asia's adjustment during the global financial crisis, and the postcrisis policy stance dealing with …
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Developing Asia experienced a sharp surge in foreign currency reserves prior to the 2008-9 crisis. The global crisis …
Persistent link: https://www.econbiz.de/10012462846
Motivated by the unprecedented rise of swap agreements between the central banks of developed economies and their developing economy counterparts, this paper evaluates Asian swap arrangements and their association with the build-up of foreign reserves prior to the 2008–2009 global financial...
Persistent link: https://www.econbiz.de/10014179703
adjustment to the post-crisis challenges. We point out that emerging Asia has converged to a middle ground of the trilemma …
Persistent link: https://www.econbiz.de/10013118911
Developing Asia experienced a sharp surge in foreign currency reserves prior to the 2008-9 crisis. The global crisis …
Persistent link: https://www.econbiz.de/10013146950
The "monetary trilemma" - the hypothesis that full monetary policy autonomy, exchange rate stability, and financial openness cannot simultaneously be achieved - has long been studied. Recently, holding international reserves (IR) has become an important policy instrument, insuring against...
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