The East Asia countries were among the fastest growing economies in the world and of increasing importance to the world economy. These countries have taken the lead in adopting outward-oriented development policies. This volume focuses on the major issues on open economy macroeconomics in the East Asia economies that will be instructive to both academics and policymakers. The emphasis is on the countries that were severely affected by the 1997/98 Asian financial crises. Several aspects of exchange rate, current account, budget deficits, monetary and financial issues are considered in this book. In addition, several chapters are devoted to discussion on the issues of economic integration in the region. The contagion and the currency crisis are also discussed thoroughly. Most of the chapters are empirical in nature and the empirical evidence provided is based on the recent development in time series econometrics methods.
Money And Growth: Structural adjustment to sustained economic growth in Malaysia, Marwan Abdul-Malik Thanoon; Money, credit, asset prices and monetary transmission mechanism in Malaysia, Mansor H. Ibrahim; Output - inflation trade-off in the Asian countries, Chin-Hong Puah, Muzafar Shah Habibullah and Hway-Boon Ong. Exchange Rates: Purchasing power parity, Venus Khim-Sen Liew and Ahmad Zubaidi Baharumshah; The dynamics of monetary exchange rate model, Ahmad Zubaidi Baharumshah, Muzafar Shah Habibullah and M. Azali; Forecasting the exchange rates, Ahmad Zubaidi Baharumshah, Venus Khim-Sen Liew and Klan-Ping Lim. Towards A Regional Integration: Internal and external deficits in the ASEAN-5 economies, Evan Lau; Financial integration of East Asia: is there a yen block?, Ahmad Zubaidi Baharumshah and Goh Wee-Keat; Measuring capital mobility in the Pacific Rim, Chan Tze-Haw and Ahmad Zubaidi Baharumshah; Financial integration and its implication for economic union in Asia, Sarinder Kumari, Muzafar Shah Habibullah, M. Azali, Mohammed B. Yusoff and Yoke-Kee Eng. Contagion And The Currency Crises: Sources of the Asian currency crisis, Muhd Zulkhibri Abdul Majid and Mohammed B. Yusoff; The economic and financial crisis in Malaysia, Hassanuddeen A. Aziz; Subject index.