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Palgrave Macmillan

Emerging Asia

Essays on Crises, Capital Flows, FDI and Exchange Rates

ISBN 9780230318021
Publication Date May 2011
Formats Ebook (EPUB) Hardcover Ebook (PDF) 
Publisher Palgrave Macmillan
Series Palgrave Macmillan Studies in Banking and Financial Institutions

Asia's share of the world's GDP, which is currently little above twenty percent, is likely to double by 2030. This has drawn much attention to the dynamic emerging Asian region, especially to the economic giants China and India. This book discusses the different aspects of contemporary international economic issues in the region in 25 short essays. They are wide-ranging in coverage, focusing on financial crises, reserve accumulation, capital flows and currency wars, on the one hand, and issues relating to foreign direct investment and developments in China and India, on the other. It is written in a manner that makes it accessible to students as well as policy-makers, practitioners and interested observers.

RAMKISHEN S. RAJAN is Professor at the School of Public Policy and Co-Director of the Centre for Emerging Market Policies, George Mason University, USA. His previous publications include Exchange Rates, Currency Crisis and Monetary Cooperation in Asia (Palgrave Macmillan, 2009).

PART I: CRISIS, CAPITAL FLOWS AND EXCHANGE RATES IN ASIA
Booms and Busts in Private Capital Flows to Emerging Asia since the 1990s
Asia as a Source of Capital (with R.Hattari)
Will the US Dollar Remain the Single Global Currency? (with S.Gopalan)
Exchange Rate Regimes in Asia
East Asia and the Real Exchange Rate (with J.H.Beverinotti)
PART II: EXCHANGE RATE VOLATILITY, CRISES AND CONTROLS IN EMERGING ECONOMIES
The Problem with Exchange Rate Volatility
Capital Controls: No Longer Unorthodox
Reconsidering the Tobin Tax
Sovereign Debt Defaults: Concerns and Lessons
Banking Sector Internationalisation in Asia (with S.Gopalan)
PART III: ASIA AND THE GLOBAL FINANCIAL ARCHITECTURE
The Global Financial Crisis of 2008-09: Implications for Emerging Asia
Sequencing of Regional Cooperation in Asia: The Real and Financial Dimensions
Revisiting Asian Monetary and Financial Cooperation
The Idea and Reality of the Asian Currency Unit (ACU)
Asia in the G20: Monetary and Financial Considerations (with S.Gopalan)
PART IV: MONETARY AND FINANCIAL ISSUES IN INDIA
The Global Financial Crisis and the Bank Lending Channel (with M.S.Islam)
Macroeconomic Management during a Period of Plenty in India
Post Global Financial Crisis: Heating up of the Inflation Debate in India (with V.Yanamandra)
India's International Reserves: How Diversified? (with S.Gopalan)
The Importance of Remittances in India and South Asia (with S.Gopalan)
PART V: FOREIGN DIRECT INVESTMENT ISSUES IN ASIA
Foreign Portfolio versus Foreign Direct Investment Flows: Are they So Different?
Intra-Asian Foreign Direct Investment Flows (with R.Hattari)
Revisiting India's Foreign Direct Investment Numbers (with S.Gopalan)
Attracting Foreign Direct Investment: The Role of Financial and Fiscal Incentives
Global Competition for Foreign Direct Investment and Investment Promotion

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'...the volume rests on a foundation of extensive and high-quality research. It is well written, organized rationally and contains a wealth of bibliographical references and an array of pertinent empirical data.' - Robert L. Currey Jr. California State University, Asean Economic Bulletin
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