Adjustments of Capital Account Restrictions and Exchange Rate Regimes in East Asia

Naoyuki Yoshino, Sahoko Kaji, Tamon Asonuma

Research output: Contribution to journalArticle

1 Citation (Scopus)

Abstract

This paper discusses adjustments of capital account restrictions and exchange rate regimes in East Asia. Monetary authorities have two options for these adjustments: Gradual adjustments and rapid adjustments. We analyze the costs and benefits for both adjustment options in each area, i.e., capital account restrictions and exchange rate regimes. The paper provides prominent country cases for each adjustment option to emphasize the benefits for policymakers. We then propose four transition policy options for East Asian countries aiming to relax capital account restrictions and increase flexibility in exchange rates from fixed regimes with capital account controls.

Original languageEnglish
Article number1550015
JournalJournal of International Commerce, Economics and Policy
Volume6
Issue number3
DOIs
Publication statusPublished - 2015 Oct 1

Keywords

  • Adjustments of capital account
  • capital controls
  • East Asia
  • exchange rate adjustments
  • exchange rate regimes
  • transition policy

ASJC Scopus subject areas

  • Business, Management and Accounting(all)
  • Economics and Econometrics
  • Finance

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