EAFTA or CEPEA: Which Way Forward? (2008)
Masahiro Kawai, Ganeshan Wignaraja
ASEAN Economic Bulletin - Volume 25, Number 2, August 2008
Economic Adviser Development Economics World Bank (2007)
Masahiro Kawai, Richard Newfarmer, Sergio L. Schmukler, Senior Economist
The recent crises originating in Mexico (1994), Thailand (1997), and Russia (1998) were all transmitted across countries. The shocks affected both neighboring and remote countries, and both emerging...
ARRANGEMENTS IN EMERGING EAST ASIA (2007)
Richard Levich, Paolo Mauro, Paul Samuelson, Er Swoboda, Several Other, Masahiro Kawai, ...
Earlier versions of this paper were presented to several conferences: the “Seminar on Exchange Rate Issues in an Environment of Volatile Capital Flows, ” which was co-hosted by the Japanese...
JAPAN’S OFFICIAL DEVELOPMENT ASSISTANCE: RECENT ISSUES AND FUTURE DIRECTIONS By (2007)
Masahiro Kawai, Shinji Takagi, Yoshiaki Abe, Paula Donovan, Aki Kuchiki, Keijiro Ohtsuka, ...
Abstract: The paper discusses recent issues and possible future directions of Japan’s official development assistance (ODA). While Japan remains the world’s largest donor nation, given its...
Economic Adviser Development Economics World Bank (2007)
Masahiro Kawai, Richard Newfarmer, Sergio Schmukler
The recent crises originating in Mexico (1994), Thailand (1997), and Russia (1998) were all transmitted to the rest of the world. The shocks affected both neighboring and remote countries, and both...
Evolving Economic Architecture in East Asia (2007)
This paper examines how East Asia's economic architecture has been evolving over the last ten years and how it will shape itself in the future. With the progress of market-driven economic...
Khalid, Ahmed M, Kawai, Masahiro
The episodes of financial crises in many parts of the world during the 1990s have sparked interest in identifying channels through which such crises spread from one country to another. Researchers...
Revealed commonality: linkages in consumption, investment and output in East Asia (2003)
De Brouwer, G.J., Dungey, M., De Brouwer, Gordon, Kawai, Masahiro
There is a growing appetite in East Asia for thinking about ways to deepen economic and financial policy dialogue, cooperation and integration. This paper aims to inform that debate by examining what...
De Brouwer, G.J., De Brouwer, Gordon, Kawai, Masahiro
Conclusion: This paper has assessed the empirical relationship between exchange rate volatility and survey measures of household and business confidence in Australia, Japan, Korea, Malaysia, and...
Khalid, Ahmed M, Kawai, Masahiro
The episodes of financial crises in many parts of the world during the 1990s have sparked interest in identifying channels through which such crises spread from one country to another. Researchers...
Strengthening regional financial cooperation in East Asia (2002)
Kuroda, Haruhiko, Kawai, Masahiro
The 1997–98 financial crisis prompted East Asian economies to realise the potential benefits of installing stronger cooperative mechanisms for crisis prevention, management and resolution. This...
Strengthening regional financial cooperation in East Asia (2002)
Kuroda, Haruhiko, Kawai, Masahiro
The 1997–98 financial crisis prompted East Asian economies to realise the potential benefits of installing stronger cooperative mechanisms for crisis prevention, management and resolution. This...
Strengthening regional financial cooperation in East Asia (2002)
Kuroda, Haruhiko, Kawai, Masahiro
The 1997–98 financial crisis prompted East Asian economies to realise the potential benefits of installing stronger cooperative mechanisms for crisis prevention, management and resolution. This...
Strengthening regional financial cooperation in East Asia (2002)
Kuroda, Haruhiko, Kawai, Masahiro
The 1997–98 financial crisis prompted East Asian economies to realise the potential benefits of installing stronger cooperative mechanisms for crisis prevention, management and resolution. This...
Strengthening regional financial cooperation in East Asia (2002)
Kuroda, Haruhiko, Kawai, Masahiro
The 1997–98 financial crisis prompted East Asian economies to realise the potential benefits of installing stronger cooperative mechanisms for crisis prevention, management and resolution. This...
The East Asian crisis was the result of interactions between massive capital flows and weak domestic institutions. This paper examines the weaknesses in the financial and corporate sectors that were...
The East Asian crisis was the result of interactions between massive capital flows and weak domestic institutions. This paper examines the weaknesses in the financial and corporate sectors that were...
The East Asian crisis was the result of interactions between massive capital flows and weak domestic institutions. This paper examines the weaknesses in the financial and corporate sectors that were...
The East Asian crisis was the result of interactions between massive capital flows and weak domestic institutions. This paper examines the weaknesses in the financial and corporate sectors that were...
The East Asian crisis was the result of interactions between massive capital flows and weak domestic institutions. This paper examines the weaknesses in the financial and corporate sectors that were...
Proposed Strategy for a Regional Exchange Rate Arrangement (2000)
Masahiro Kawai, Shinji Takagi, Taro Esaka, A Naknoi, Kimiko Sugimoto
Swoboda and several other IMF economists for their constructive comments, to Shigeru
THAILAND'S EXCHANGE-RATE CRISIS: RELATIONSHIPS TO EAST ASIA AND THE GLOBAL ECONOMY (1998)
SAVING, THOMAS R., CHEUNG, STEVEN N.S., HALL, JANE V., KAWAI, MASAHIRO, NASUTION, ANWAR, PANITCHPAKDI, SUPACHAI, ...
THE EAST ASIAN CURRENCY CRISIS: CAUSES AND LESSONS (1998)
Financial deregulation and capital-account liberalization preceded speculative currency attacks in Thailand. A combination of de facto fixed exchange rates and high rates of interest generated...
An original version of the paper was presented at the Twentieth Annual Rokko Conference (July 1982) in Kobe, Japan. The author is thankful to Bela Balassa, Carl Christ, Louis Maccini, Jürg Niehans,...
Thesis (Ph. D.)--Dept. of Economics, Stanford University.
Reform of the Japanese Banking System
Japan has experienced a decade-long economic stagnation with a distressed banking sector in the 1990s. The absence of a credit culture to rigorously assess and price credit risks of borrowers,...
Financial Crises: Nine Lessons from East Asia
Masahiro Kawai, Richard Newfarmer, Sergio L. Schmukler
The 1990s witnessed a surge in private capital flows to developing countries--and a surge in financial crises. The most severe and regionally extensive has (to date) been East Asia's. The last six...
Implications of the currency crisis for exchange rate arrangements in emerging East Asia
Kawai, Masahiro, Akiyama, Shigeru
The authors examine the implications of the East Asian currency crisis for exchange rate arrangements in the region's emerging market economies. They focus on the roles of the U.S. dollar, the...
Crisis and contagion in East Asia : nine lessons
Kawai, Masahiro, Newfarmer, Richard, Schmukler, Sergio
The authors investigate the origins of the East Asian crisis and its contagion, examine the channels of contagion, and discuss policy recommendationsThey make detailed recommendations in the context...
Reform of the Japanese banking system
Asset price bubble, Japan’s “lost decadeâ€, Systemic banking sector crisis, Bank restructuring and consolidation, Market-based regulatory and supervisory framework, E44, E51, G21, G28,
Japan's Banking System: From the Bubble and Crisis To Reconstruction
The Japanese banking sector is now going through major restructuring, reorganization, and consolidation on a scale unprecedented in its history, all against a background of an increasingly...
Japan's official development assistance : recent issues and future directions
Kawai, Masahiro, Takagi, Shinji
Japan remains the world's largest national donor of aid funds. But the Japanese government, facing prolonged economic stagnation and mounting public sector debt, is under increasing public pressure...
Towards regional monetary cooperation in East Asia: lessons from other parts of the world
This paper discusses regional monetary cooperation for East Asia, by drawing lessons from the European Payments Union, the CFA Franc Zone and the Arab Monetary Fund. Along with the well-known...
Proposed strategy for a regional exchange rate arrangement in post-crisis East Asia
Kawai, Masahiro, Takagi, Shinji
After discussing major conceptual, and empirical issues relevant to the exchange rate policies of East Asian countries, the authors propose a regional exchange rate arrangement designed to promote...
Twin Deficits versus Unpleasant Fiscal Arithmetic in a Small Open Economy.
Kawai, Masahiro, Maccini, Louis J
This paper studies fiscal deficits, consumption-saving behavior, current account imbalances, and exchange rates in a small open economy populated by households with finite lives. Suppose the...
TOWARD A REGIONAL EXCHANGE RATE REGIME IN EAST ASIA
Deepening market-driven economic integration in East Asia makes intraregional exchange rate across the region increasingly desirable and necessary. The paper suggests that East Asia's emerging...
Financial Crises: Nine Lessons from East Asia
Masahiro Kawai, Richard Newfarmer, Sergio L. Schmukler
The 1990s witnessed a surge in private capital flows to developing countries--and a surge in financial crises. The most severe and regionally extensive has (to date) been East Asia's. The last six...
Exchange Rate Arrangements in East Asia: Lessons from the 1997-98 Currency Crisis
This paper examines the evolution of exchange rate arrangements in East Asia's emerging market economies over the last 10 years. It considers both "official" and "observed" exchange rate arrangements...
Fiscal Policy, Anticipated Switches in Methods of Finance, and the Effects on the Economy.
Kawai, Masahiro, Maccini, Louis J
This paper develops a full employment, constant population macroeconomic model with forward-looking consumers that have finite horizons. The model is designed to analyze the effects on the economy of...
Benoit Coeure, Edward M Gramlich, Masahiro Kawai, David Gruen, Terry O'Brien, Jeremy Lawson
globalisation; growth of developing countries; trade policy; global income inequality; poverty in developing countries; trade liberalisation; openness; developing countries; commodity dependence
The East Asian crisis was the result of interactions between massive capital flows and weak domestic institutions. This paper examines the weaknesses in the financial and corporate sectors that were...
Strengthening Regional Financial Cooperation in East Asia
Haruhiko Kuroda, Masahiro Kawai
The 1997–98 financial crisis prompted East Asian economies to realise the potential benefits of installing stronger cooperative mechanisms for crisis prevention, management and resolution. This...
Rethinking Capital Controls: The Malaysian Experience
This paper reconsiders the role and effectiveness of capital controls for emerging market economies. While it is best to minimize the risk and severity of crises by reforming the international and...
Financial Crises: Nine Lessons From East Asia
Masahiro Kawai, Richard Newfarmer, Sergio L. Schmukler
The 1990s have witnessed a surge in private capital flows to developing countries—and a surge in financial crises. The most severe and regionally extensive has (to date) been East Asia’s. The...
Optimal and Sustainable Exchange Rate Regimes: A Simple Game-Theoretic Approach
Exchange rate regimes , Economic models ,
Regionalism as an Engine of Multilateralism: A Case for a Single East Asian FTA
Kawai, Masahiro, Wignaraja, Ganeshan
As East Asia becomes increasingly integrated through market-driven trade and FDI activities, free trade agreements (FTAs) are proliferating. Consolidation of multiple and overlapping FTAs into a...
Japan's official development assistance: recent issues and future directions
The paper discusses recent issues and possible future directions of Japan's official development assistance (ODA). While Japan remains one of the world's largest donor nations, given its prolonged...
Infrastructures et coopération régionale
Haruhiko Kuroda, Masahiro Kawai, Rita Nangia
This article focuses on the role of cross-border infrastructure in the process of regional integration in developing Asia. The first section sets the context, examining Asia’s phenomenal growth in...
THAILAND'S EXCHANGE-RATE CRISIS: RELATIONSHIPS TO EAST ASIA AND THE GLOBAL ECONOMY
THOMAS R. SAVING, JANE V. HALL, MASAHIRO KAWAI, ANWAR NASUTION, SUPACHAI PANITCHPAKDI, ...
Editor's Note: This is an edited transcription of the general session of the January 1998 Pacific Rim Allied Economic Organizations 3rd Biennial Conference, held in Bangkok, Thailand. Copyright 1998...
THE EAST ASIAN CURRENCY CRISIS: CAUSES AND LESSONS
Financial deregulation and capital-account liberalization preceded speculative currency attacks in Thailand. A combination of de facto fixed exchange rates and high rates of interest generated...
PRC-Latin America Economic Cooperation: Going beyond Resource and Manufacturing Complementarity
Despite the rapid development of economic interaction between the People’s Republic of China (PRC) and Latin American and Caribbean (LAC) countries, their trade and investment ties are still in...
The Asian “Noodle Bowl”:Is It Serious for Business?
A lively debate is taking place over the impact of free trade agreements (FTAs) on East Asia's business between those who view the agreements as a harmful Asian "noodle bowl"—i.e., overlapping...