EconPapers    
Economics at your fingertips  
 

Asia confronts the impossible trinity

Ila Patnaik () and Ajay Shah ()
Additional contact information
Ila Patnaik: National Institute of Public Finance and Policy

Working Papers from National Institute of Public Finance and Policy

Abstract: In this paper, we examine capital account openness and exchange rate flexibility in 11 Asian countries. Asia has made slow progress on de jure capital account openness, but has made much more progress on de facto capital account openness. While there is a slow pace of increase in exchange rate flexibility, most Asian countries continue to have largely inflexible exchange rates. This combination - of moving forward with de facto capital account integration without bringing in exchange rate exibility - has lead to procyclicality of monetary policy when capital flows are procyclical. The paper emphasises the case for a consistent monetary policy framework.

New Economics Papers: this item is included in nep-ifn, nep-mon, nep-opm and nep-sea
Date: 2010-01
Note: Working Paper 64, 2010
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (2) Track citations by RSS feed

Downloads: (external link)
http://www.nipfp.org.in/working_paper/wp_2010_64.pdf (application/pdf)
Our link check indicates that this URL is bad, the error code is: 401 Unauthorized

Related works:
Chapter: Asia Confronts the Impossible Trinity (2012) Downloads
Working Paper: Asia Confronts the Impossible Trinity (2010) Downloads
Working Paper: Asia confronts the impossible trinity (2010) Downloads
Working Paper: Asia Confronts the Impossible Trinity (2010) Downloads
Working Paper: Asia Confronts the Impossible Trinity (2010) Downloads
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:npf:wpaper:10/64

Access Statistics for this paper

More papers in Working Papers from National Institute of Public Finance and Policy
Bibliographic data for series maintained by S.Siva Chidambaram ().

 
Page updated 2019-03-22
Handle: RePEc:npf:wpaper:10/64