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

Fingerprint

Capital account
East Asia
Exchange rate regimes
Asian countries
Policy options
Authority
Exchange rates
Costs and benefits
Politicians

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

Cite this

Adjustments of Capital Account Restrictions and Exchange Rate Regimes in East Asia. / Yoshino, Naoyuki; Kaji, Sahoko; Asonuma, Tamon.

In: Journal of International Commerce, Economics and Policy, Vol. 6, No. 3, 1550015, 01.10.2015.

Research output: Contribution to journalArticle

@article{a68200d0202b41c586919ca21a016c63,
title = "Adjustments of Capital Account Restrictions and Exchange Rate Regimes in East Asia",
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.",
keywords = "Adjustments of capital account, capital controls, East Asia, exchange rate adjustments, exchange rate regimes, transition policy",
author = "Naoyuki Yoshino and Sahoko Kaji and Tamon Asonuma",
year = "2015",
month = "10",
day = "1",
doi = "10.1142/S1793993315500155",
language = "English",
volume = "6",
journal = "Journal of International Commerce, Economics and Policy",
issn = "1793-9933",
publisher = "World Scientific Publishing Co. Pte Ltd",
number = "3",

}

TY - JOUR

T1 - Adjustments of Capital Account Restrictions and Exchange Rate Regimes in East Asia

AU - Yoshino, Naoyuki

AU - Kaji, Sahoko

AU - Asonuma, Tamon

PY - 2015/10/1

Y1 - 2015/10/1

N2 - 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.

AB - 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.

KW - Adjustments of capital account

KW - capital controls

KW - East Asia

KW - exchange rate adjustments

KW - exchange rate regimes

KW - transition policy

UR - http://www.scopus.com/inward/record.url?scp=84943622367&partnerID=8YFLogxK

UR - http://www.scopus.com/inward/citedby.url?scp=84943622367&partnerID=8YFLogxK

U2 - 10.1142/S1793993315500155

DO - 10.1142/S1793993315500155

M3 - Article

AN - SCOPUS:84943622367

VL - 6

JO - Journal of International Commerce, Economics and Policy

JF - Journal of International Commerce, Economics and Policy

SN - 1793-9933

IS - 3

M1 - 1550015

ER -