Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/53702
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dc.contributor.authorPark, Yung Chulen_US
dc.date.accessioned2011-06-14en_US
dc.date.accessioned2011-12-15T12:27:19Z-
dc.date.available2011-12-15T12:27:19Z-
dc.date.issued2011en_US
dc.identifier.urihttp://hdl.handle.net/10419/53702-
dc.description.abstractThis paper analyzes the role and scope of macroprudential policy in preventing financial instability in the context of East Asian economies. It analyzes the behavior of the housing market in a dynamic setting to identify some of the factors responsible for the volatility of housing markets and their susceptibility to boom-bust cycles, which it identifies as a key source of financial imbalances in these economies. It then discusses the causal nexus between price and financial stability and the roles and complementary nature of macroprudential and monetary policies in addressing aggregate risk in the financial system. The paper identifies currency and maturity mismatches, which contributed to the 1997 - 1998 Asian financial crisis, as ongoing concerns in these economies although the high levels of reserves in the region now act as a buffer.en_US
dc.language.isoengen_US
dc.publisher|aAsian Development Bank Institute (ADBI) |cTokyoen_US
dc.relation.ispartofseries|aADBI working paper series |x284en_US
dc.subject.jelE52en_US
dc.subject.jelE58en_US
dc.subject.jelG01en_US
dc.subject.jelG15en_US
dc.subject.jelG28en_US
dc.subject.ddc330en_US
dc.subject.stwFinanzmarktkriseen_US
dc.subject.stwImmobilienpreisen_US
dc.subject.stwGeldpolitiken_US
dc.subject.stwKapitalmarktliberalisierungen_US
dc.subject.stwSchwellenländeren_US
dc.subject.stwOstasienen_US
dc.titleThe role of macroprudential policy for financial stability in East Asia's emerging economiesen_US
dc.typeWorking Paperen_US
dc.identifier.ppn662057937en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen_US

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