Macro-Financial Linkages in the Pacific Region

This book explains why the difference between emerging economies in East Asia and other emerging economies such as Brazil, India has been widening since the late 1990s. It suggests facts that have strengthened the resilience of these emerging economies in East Asia against the Global Financial Crisis along with the intensified intra-regional economic integration through trade and investment. It also examines their macroeconomic management focusing on monetary policy regimes and suggests that their factual unorthodox policies with exchange rate management and capital controls have contributed to their resilience against the intrinsic volatility of the international capital market and financial flows.