Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/115337
Authors: 
Yoshino, Naoyuki
Kaji, Sahoko
Asonuma, Tamon
Year of Publication: 
2015
Series/Report no.: 
ADBI Working Paper Series 518
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 or rapid adjustments. We analyze the costs and benefits for both adjustment options in each area, i.e., capital account restrictions and exchange rate regime. 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.
Subjects: 
exchange rate transition
east asia
capital account controls
exchange rate transition policies
JEL: 
F33
F41
F42
Document Type: 
Working Paper

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