Macroeconomic Linkage
Savings, Exchange Rates, and Capital Flows
9780226386690
9780226386997
Macroeconomic Linkage
Savings, Exchange Rates, and Capital Flows
This volume explores East Asia’s macroeconomic experience in the 1980s and the economic impact of East Asia’s growth on the rest of the world. The authors explore the causes of capital flows, changes in trade balances, and exchange rate fluctuations in East Asia and their effects on other countries.
These fourteen papers are organized around four themes: the overall determinants of growth and trading relations in the East Asian region; monetary policies in relation to capital controls and capital accounts; the impact of exchange rate behavior on industrial structure; and the potential for greater regional integration. The contributors examine interactions among exchange rate movements, trade balances, and capital flows; how government monetary policy affects capital flows; the effect of exchange rates on industrial structure, inventories, and prices; and the extent of regional integration in East Asia.
These fourteen papers are organized around four themes: the overall determinants of growth and trading relations in the East Asian region; monetary policies in relation to capital controls and capital accounts; the impact of exchange rate behavior on industrial structure; and the potential for greater regional integration. The contributors examine interactions among exchange rate movements, trade balances, and capital flows; how government monetary policy affects capital flows; the effect of exchange rates on industrial structure, inventories, and prices; and the extent of regional integration in East Asia.
416 pages | 45 line drawings, 65 tables | 6 x 9 | © 1994
National Bureau of Economic Research East Asia Seminar on Economics
Economics and Business: Economics--International and Comparative, Economics--Money and Banking
Table of Contents
Introduction
Takatoshi Ito and Anne O. Krueger
1 International Growth Linkages: Evidence from Asia and the OECD
John F. Helliwell
Comment:
Shin-ichi Fukuda
2 On Recent Movements of Japanese Current Accounts and Capital Flows
Takatoshi Ito
Comment:
Naohiro Yashiro
Comment:
Maria S. Gochoco
3 Perspectives on Korea’s External Adjustment: Comparison with Japan and Taiwan
Bon Ho Koo and Won-Am Park
Comment:
Bih Jane Liu
Comment:
Hiroo Taguchi
4 The Effects of NT Dollar Variations on Taiwan’s Trade Flows
San Gee
Comment: Hideki Funatsu and Chong-Hyun Nam
5 Capital Mobility in Korea since the Early 1980s: Comparison with Japan and Taiwan
Sung Hee Jwa
Comment:
Kazuo Ueda and Pochih Chen
6 An Asian Capital Crunch? Implications for East Asia of a Global Capital Shortage
Rachel McCulloch
Comment:
Chong-Hyun Nam and Kazumi Asako
7 Money, Output, Exhange Rate, and Price: The Case of Taiwan
Chung-Shu Wu and Jin-Lung Lin
Comment:
Maria S. Gochoco
8 Endogenous Exchange Rate Fluctuations under the Flexible
Exchange Rate Regime Shin-ichi Fukuda
Comment:
Michihiro Ohyama and Shang-Jin Wei
9 Export Structure and Exchange Rate Variation in Taiwan: A Comparison with Japan and the United States
Pochih Chen, Chi Schive, and Cheng Chung Chu
Comment:
Rachel McCulloch and Shin-ichi Fukuda
10 Cost Externality and Exhange Rate Pass-Through: Some Evidence from Taiwan
Bih Jane Liu
Comment:
Won-Am Park and Serguey Braguinsky
11 Tariffs, Quotas, and Inventory Adjustment
Kazumi Asako and Yoshiyasu Ono
Comment:
Kazuo Nishimura
Comment:
John F. Helliwell
12 Yen Bloc or Dollar Bloc? Exchange Rate Policies of the East Asian Economies
Jeffrey A. Frankel and Shang-Jin Wei
Comment:
Koichi Hamada
Comment:
Sung Hee-Jwa
13 On the Internationalization of the Japanese Yen
Hiroo Taguchi
Comment:
Kazuo Uedo
Comment:
Anne O. Krueger
14 Economic Preconditions for Asian Regional Integration
Junichi Goto and Koichi Hamada
Comment:
Masao Satake
Comment:
Toshiaki Tachibanaki
Takatoshi Ito and Anne O. Krueger
1 International Growth Linkages: Evidence from Asia and the OECD
John F. Helliwell
Comment:
Shin-ichi Fukuda
2 On Recent Movements of Japanese Current Accounts and Capital Flows
Takatoshi Ito
Comment:
Naohiro Yashiro
Comment:
Maria S. Gochoco
3 Perspectives on Korea’s External Adjustment: Comparison with Japan and Taiwan
Bon Ho Koo and Won-Am Park
Comment:
Bih Jane Liu
Comment:
Hiroo Taguchi
4 The Effects of NT Dollar Variations on Taiwan’s Trade Flows
San Gee
Comment: Hideki Funatsu and Chong-Hyun Nam
5 Capital Mobility in Korea since the Early 1980s: Comparison with Japan and Taiwan
Sung Hee Jwa
Comment:
Kazuo Ueda and Pochih Chen
6 An Asian Capital Crunch? Implications for East Asia of a Global Capital Shortage
Rachel McCulloch
Comment:
Chong-Hyun Nam and Kazumi Asako
7 Money, Output, Exhange Rate, and Price: The Case of Taiwan
Chung-Shu Wu and Jin-Lung Lin
Comment:
Maria S. Gochoco
8 Endogenous Exchange Rate Fluctuations under the Flexible
Exchange Rate Regime Shin-ichi Fukuda
Comment:
Michihiro Ohyama and Shang-Jin Wei
9 Export Structure and Exchange Rate Variation in Taiwan: A Comparison with Japan and the United States
Pochih Chen, Chi Schive, and Cheng Chung Chu
Comment:
Rachel McCulloch and Shin-ichi Fukuda
10 Cost Externality and Exhange Rate Pass-Through: Some Evidence from Taiwan
Bih Jane Liu
Comment:
Won-Am Park and Serguey Braguinsky
11 Tariffs, Quotas, and Inventory Adjustment
Kazumi Asako and Yoshiyasu Ono
Comment:
Kazuo Nishimura
Comment:
John F. Helliwell
12 Yen Bloc or Dollar Bloc? Exchange Rate Policies of the East Asian Economies
Jeffrey A. Frankel and Shang-Jin Wei
Comment:
Koichi Hamada
Comment:
Sung Hee-Jwa
13 On the Internationalization of the Japanese Yen
Hiroo Taguchi
Comment:
Kazuo Uedo
Comment:
Anne O. Krueger
14 Economic Preconditions for Asian Regional Integration
Junichi Goto and Koichi Hamada
Comment:
Masao Satake
Comment:
Toshiaki Tachibanaki