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Financial Liberalization, Money Demand, and Monetary Policy in Asian Countries

Financial Liberalization, Money Demand, and Monetary Policy in Asian Countries »

Series: Occasional Papers

Author(s): Robert Corker , and Wanda Tseng

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 15 March 1991

DOI: http://dx.doi.org/10.5089/9781557752208.084

ISBN: 9781557752208

Keywords: monetary policy, money demand, central bank, financial liberalization, reserve requirements

This study examines the financial reforms undertaken by nine Asian countries in the 1980s (Indonesia, Korea, Malaysia, Myanmar, Nepal, the Philippines, Singapore, Sri Lanka, and Thailand) and their implications for...

Financial Inclusion in Asia-Pacific

Financial Inclusion in Asia-Pacific »

Volume/Issue: 2018/17

Series: Departmental Papers / Policy Papers

Author(s): Elena Loukoianova , Yongzheng Yang , Si Guo , Leni Hunter , Sarwat Jahan , Fazurin Jamaludin , and Johanna Schauer

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 18 September 2018

DOI: http://dx.doi.org/10.5089/9781484371015.087

ISBN: 9781484371015

Keywords: Financial inclusion, Financial institutions, Financial services industry, Poor, financial inclusion, macroeconomic policymaking, fintech, Asia, Asia Pacific, Pacific

Asia has made significant progress in financial inclusion, but both its across-country and intra-country disparities are among the highest in the world. The gaps between the rich and the poor, rural and urban popul...

Characterizing Exchange Rate Regimes in Post-Crisis East Asia

Characterizing Exchange Rate Regimes in Post-Crisis East Asia »

Volume/Issue: 2001/152

Series: IMF Working Papers

Author(s): Taimur Baig

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 October 2001

DOI: http://dx.doi.org/10.5089/9781451857092.001

ISBN: 9781451857092

Keywords: exchange rate regime, volatility, Asian crisis, exchange rate, exchange rates, random walk, exchange rate volatility, standard deviation, International Monetary Arrangements and Institutions,

This paper examines the behavior of the exchange rates of selected emerging market East Asian economies in the aftermath of the Asian crisis. The results suggest that movements in the Asia-5 currencies (Indonesia,...

Did Output Recover From the Asian Crisis?

Did Output Recover From the Asian Crisis? »

Volume/Issue: 2003/48

Series: IMF Working Papers

Author(s): Valerie Cerra , and Sweta Saxena

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 March 2003

DOI: http://dx.doi.org/10.5089/9781451846751.001

ISBN: 9781451846751

Keywords: Crisis, Recovery, Hong Kong, Korea, recessions, asian crisis, recession, probability, probabilities, International Finance: Other

This paper investigates the extent to which output has recovered from the Asian crisis. A regime-switching approach that introduces two state variables is used to decompose recessions in a set of six Asian countrie...

Financial Crisis and Credit Crunch as a Result of Inefficient Financial Intermediation-with Reference to the Asian Financial Crisis

Financial Crisis and Credit Crunch as a Result of Inefficient Financial Intermediation-with Reference to the Asian Financial Crisis »

Volume/Issue: 1998/127

Series: IMF Working Papers

Author(s): Zhaohui Chen , and Jorge Chan-Lau

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 September 1998

DOI: http://dx.doi.org/10.5089/9781451935998.001

ISBN: 9781451935998

Keywords: Asian crisis, credit crunch, financial intermediary, capital flow, capital inflow inertia, capital inflow, capital outflow, capital flows

This paper develops a model of private debt financing under inefficient financial intermediation. It suggests a mechanism that can generate the following sequence of events observed in the recent Asian crisis: A pe...

Financial Market Contagion in the Asian Crisis

Financial Market Contagion in the Asian Crisis »

Volume/Issue: 1998/155

Series: IMF Working Papers

Author(s): Taimur Baig , and Ilan Goldfajn

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 November 1998

DOI: http://dx.doi.org/10.5089/9781451857283.001

ISBN: 9781451857283

Keywords: Contagion, Asian Crises, Financial Markets, news, correlations, correlation, dummy variables, significance level

This paper tests for evidence of contagion between the financial markets of Thailand, Malaysia, Indonesia, Korea, and the Philippines. Cross-country correlations among currencies and sovereign spreads are found to...

Global Volatility and Forex Returns in East Asia

Global Volatility and Forex Returns in East Asia »

Volume/Issue: 2008/208

Series: IMF Working Papers

Author(s): Sanjay Kalra

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 September 2008

DOI: http://dx.doi.org/10.5089/9781451870664.001

ISBN: 9781451870664

Keywords: Forex returns, GARCH models, volatility, exchange rate, standard deviation, statistics, heteroscedasticity,

During 2001-07, increases in mature market volatility were associated with declines in forex returns for East Asian countries, consistent with an overall "flight to safety" effect. Estimates from GARCH models sugge...

Leading Indicators of Banking Crises
			: Was Asia Different?

Leading Indicators of Banking Crises : Was Asia Different? »

Volume/Issue: 1998/91

Series: IMF Working Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 June 1998

DOI: http://dx.doi.org/10.5089/9781451951745.001

ISBN: 9781451951745

Keywords: Banking crises, leading indicators, East Asia, banking, banking system, banking sector, banking system distress

This paper examines episodes of the banking system distress and crisis in a large sample of countries. The empirical results identify several macroeconomic and financial variables as useful leading indicators. The...

Monetary Policy in the Aftermath of Currency Crises
			: The Case of Asia

Monetary Policy in the Aftermath of Currency Crises : The Case of Asia »

Volume/Issue: 1998/170

Series: IMF Working Papers

Author(s): Taimur Baig , and Ilan Goldfajn

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 December 1998

DOI: http://dx.doi.org/10.5089/9781451858396.001

ISBN: 9781451858396

Keywords: interest rates, exchange rate, exchange rates, real interest rates

This paper evaluates monetary policy and its relationship with the exchange rate in five Asian crisis countries. The findings are compared with previous currency crises in recent history. The paper finds no evidenc...

Optimal Liquidity and Economic Stability

Optimal Liquidity and Economic Stability »

Volume/Issue: 2012/135

Series: IMF Working Papers

Author(s): Linghui Han , and Il Lee

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 May 2012

DOI: http://dx.doi.org/10.5089/9781475503883.001

ISBN: 9781475503883

Keywords: financial assets, financial sector, monetary aggregate, Methodology for Collecting, Estimating, and Organizing Macroeconomic Data, Monetary Policy, Central Banking, and the Supply of Money and Credit: General, Dynamic Panel,

Monetary aggregates are now much less used as policy instruments as identifying the right measure has become difficult and interest rate transmission has worked well in an increasingly complex financial system. In...