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dc.contributor.authorYap, Josefen_US
dc.date.accessioned2011-12-15T12:21:14Z-
dc.date.available2011-12-15T12:21:14Z-
dc.date.issued2008en_US
dc.identifier.urihttp://hdl.handle.net/10419/53472-
dc.description.abstractDuring the past five years or so, most East Asian economies including the Philippines experienced a rising level of foreign exchange reserves and rapidly appreciating currencies both in nominal and real terms. One cause has been the resurgence of capital flows, which makes the issue of how to manage them relevant. However, the experience with regard to capital flows among East Asian economies is mixed and the level of capital flows to the region is proportionally less than that prior to the 1997 crisis. Another reason is the rise in current account surpluses. The Philippines has experienced both a return of capital inflows and a more favorable current account balance, with the latter largely due to remittances from overseas workers. However, like many other regional currencies, the appreciation of the peso is not commensurate to movements of the BOP accounts. Currencies in the region are reacting primarily to the general weakness of the US dollar, and global uncertainties have contributed to weak investment which in turn is another major reason behind the current account surplus of several economies including the Philippines. Policy measures at the domestic level can focus on reviving private investment, particularly channeling overseas remittances to more productive investment. Meanwhile, East Asian financial and monetary cooperation can also result in a unified front aimed at overhauling the unipolar global financial system.en_US
dc.language.isoengen_US
dc.publisherAsian Development Bank Institute (ADBI) Tokyoen_US
dc.relation.ispartofseriesADB Institute Discussion Papers 91en_US
dc.subject.jelF31en_US
dc.subject.jelF32en_US
dc.subject.jelF37en_US
dc.subject.ddc330en_US
dc.subject.stwKapitalmobilitäten_US
dc.subject.stwKapitalimporten_US
dc.subject.stwKapitalverkehrspolitiken_US
dc.subject.stwSchätzungen_US
dc.subject.stwPhilippinenen_US
dc.titleManaging capital flows: The case of the Philippinesen_US
dc.typeWorking Paperen_US
dc.identifier.ppn569563097en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen_US
Appears in Collections:ADB Institute Discussion Papers, Asian Development Bank Institute

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