The Next Tsunami? Preparing for a Disorderly Correction of Global Imbalances
AbstractThis paper makes the case that Asian countries should start preparing now for a disorderly correction of global imbalances. It points to six measures they should take: allowing their currencies to appreciate against the dollar as a way of limiting their dependence on the U.S. market; accelerating regional trade initiatives to support their export sectors; using fiscal policy to sustain domestic demand; developing their financial markets; allowing intraregional exchange rates to move to accommodate differences in the impact of the shock and the scope for offsetting action; and enhancing regional cooperation to address free-rider and firstmover problems that might otherwise discourage these adjustments. (c) 2006 The Earth Institute at Columbia University and the Massachusetts Institute of Technology.
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.
Bibliographic InfoArticle provided by MIT Press in its journal Asian Economic Papers.
Volume (Year): 5 (2006)
Issue (Month): 2 (June)
Contact details of provider:
Web page: http://mitpress.mit.edu/journals/
You can help add them by filling out this form.
reading list or among the top items on IDEAS.Access and download statistics
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Karie Kirkpatrick).
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.