Economic Management in a Volatile Environment

1. Front Matter

   Pages i-xx

   PDF

2. Exchange Rates, Reserves, and Controls

   1. Front Matter

      Pages 1-1

      PDF

   2. What Is the Extent of Monetary Sterilisation in China?

      • A. Ouyang, T. D. Willett

      Pages 3-26

   3. What Determines Real Exchange Rate Fluctuations?

      • A. Ouyang

      Pages 27-48

   4. What Is the Impact of Capital Controls?

      • J. Li

      Pages 49-72

   5. Can International Currency Taxation Stabilise Currency Fluctuations?

      • G. Bird

      Pages 73-89

   6. Why Do Countries Accumulate International Reserves?

      • V. Yanamandra

      Pages 90-118

3. Financial Crises, Financial Liberalisation, and Foreign Bank Entry

   1. Front Matter

      Pages 119-119

      PDF

   2. Comparing Financial Crises: What Lessons for Asia from the Eurozone Crisis?

      • Ramkishen S. Rajan, Sasidaran Gopalan

      Pages 121-142

   3. Financial Liberalisation and Foreign Bank Entry: What Is the Nexus?

      • Ramkishen S. Rajan, Sasidaran Gopalan

      Pages 143-163

   4. Do Foreign Banks Enhance Banking System Efficiency?

      • Ramkishen S. Rajan, Sasidaran Gopalan

      Pages 164-180

   5. How Do Foreign Banks Affect Firms’ Access to Credit?

      • Ramkishen S. Rajan, Sasidaran Gopalan

      Pages 181-206

   6. Why Do Banks Go Abroad?

      • Ramkishen S. Rajan, Sasidaran Gopalan

      Pages 207-238

4. Back Matter

   Pages 239-283

   PDF

This book discusses some of the challenges relating to macroeconomic and financial management in a volatile and uncertain world brought about by greater financial openness. It explores the implications of a key set of issues emanating from financial globalisation on emerging market economies in a rigorous but readable manner.

• Exchange rates
• capital flows
• monetary management
• foreign bank entry
• capital controls
• international reserves
• China
• exchange rates
• globalization
• macroeconomics
• taxation

• George Mason University and National University of Singapore, Singapore

  Ramkishen S. Rajan

• The Hong Kong University of Science and Technology, Hong Kong

  Sasidaran Gopalan

Ramkishen S. RAJAN is a Professor of International Economic Policy at the School of Policy, Government and International Affairs (SPGIA), George Mason University (GMU) and has been on the faculty since January 2006. He is also the Co-director of the Center for Emerging Market Policies (CEMP) at SPGIA, GMU. He is currently a Visiting Professor at the Lee Kuan Yew School of Public Policy at the National University of Singapore and an Adjunct Senior Research Fellow at the Asia Competitiveness Institute (ACI), National University of Singapore. He is the Managing Editor of the Journal of International Commerce, Economics and Policy, Associate Editor of the Singapore Economic Review and sits on the Editorial Board of various other academic journals.


Sasidaran GOPALAN is a Post-Doctoral Research Fellow at the Institute for Emerging Market Studies (IEMS) and Institute for Advanced Study (IAS) at the Hong Kong University of Science and Technology (HKUST). He completed his PhD in Public Policy, specializing in International Finance at the School of Policy, Government and International Affairs (SPGIA), George Mason University, USA. He obtained his Bachelors and Masters degrees in Economics from Loyola College (Chennai) and Madras School of Economics (Chennai), respectively.

Policies and ethics