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Trilemma and Financial Stability Configurations in Asia

Trilemma and Financial Stability Configurations in Asia

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Published by ADBI Publications
This paper takes stock of recent research dealing with the degree to which the trilemma choices of Asian countries facilitated a smoother adjustment during the global crisis of 2008–2009, and the way the region has been coping with the adjustment to the postcrisis challenges. We point out that emerging Asia has converged to a middle ground of the trilemma configuration: limited financial integration, a degree of monetary independence, and controlled exchange rate buffered by sizable international reserves.

Download this working paper: http://www.adbi.org/working-paper/2011/11/01/4772.trilemma.financial.stability.asia/
This paper takes stock of recent research dealing with the degree to which the trilemma choices of Asian countries facilitated a smoother adjustment during the global crisis of 2008–2009, and the way the region has been coping with the adjustment to the postcrisis challenges. We point out that emerging Asia has converged to a middle ground of the trilemma configuration: limited financial integration, a degree of monetary independence, and controlled exchange rate buffered by sizable international reserves.

Download this working paper: http://www.adbi.org/working-paper/2011/11/01/4772.trilemma.financial.stability.asia/

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Published by: ADBI Publications on Nov 02, 2011
Copyright:Traditional Copyright: All rights reserved

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11/02/2011

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