Exchange Rate and Macroeconomic Management in Emerging Asia in the Postcrisis Era

Purpose

The global financial crisis has cast several important policy issues in Asia. One of them is the macroeconomic management in dealing with massive capital flows and excessive exchange rate movements. This conference will give some light on macroeconomic management cope with potential policy difficulties in Asia in the post era of the global crisis.

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Background

Asia has confronted many policy challenges in the global financial crisis and after. Dealing with massive capital flows and excessive exchange rate movements is one of them. In the middle of the global financial crisis, Asia was faced with another sharp reversal in foreign capital flows, just about a decade after the Asian crisis of 1997-98. In the absence of any policy coordination across the region, the regional economies used a combination of exchange rate intervention (and thus reserve depletion) and exchange depreciation to manage the pressure on their balance of payments.

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Objectives

The four major areas included in this conference are:

1. Capital flows surges and macroeconomic management
2. Asian exchange rate regime
3. PRC and Asia: Exchange rates and economic growth
4. Financial development and integration in Asia

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Outputs

• Conference proceedings
• ADBI Working Papers

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Participants

The participants in this workshop will include policymakers and academics, researchers from US and Asia and various Asian think tanks, other resource persons.

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Language

English

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Responsibilities

The purpose of this conference is to present papers on the issues of exchange rates, capital flows, and macroeconomic management in the postcrisis era. Towards the end of the conference, the participants, guided by the findings of the various research papers and comments raised, will discuss the important policy issues in the postcrisis era and identify possible regional cooperation initiatives.

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Partners

Institute of Southeast Asian Studies, Singapore
George Mason University, US