| ID | 138451 |
| Title Proper | Policy configurations of PRC and East Asian emerging economies after the global financial crisis |
| Other Title Information | an analysis of Trilemma indexes |
| Language | ENG |
| Author | Kuo-chun, Yeh ; Chen-dong, Tso |
| Summary / Abstract (Note) | This article predicts future policy configurations of PRC (People’s Republic of China) and East Asian emerging economies using Mundell’s trilemma and its quantitative measurement. Due to fear of capital flows and exchange-rate volatility, the East Asian emerging economies may still choose a collective exchange rate stability mechanism, which constitutes exchange rate stability, monetary independence, and limitation on capital flows with the support of precautious reserve accumulation and multilateral currency swaps. That is, a Bretton Woods-style mechanism will still be feasible after the global financial crisis. On the other hand, East Asia may be willing to decrease precautious reserve accumulation once a new international currency can be launched. However, the PRC’s attitude will be the critical factor. |
| `In' analytical Note | China: An International Journal Vol. 13, No.1; Apr 2015: p.139-154 |
| Journal Source | China: An International Journal 2015-04 13, 1 |
| Key Words | East Asia ; Emerging Economies ; PRC ; Global Financial Crisis ; International Currency ; Policy Configurations ; Trilemma Indexes ; Mundell’s Trilemma ; Bretton Woods - Style Mechanism |