Monetary policy in Asia: approaches and implementation

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Monetary policy in Asia: approaches and implementation

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Bank for International Settlements

Abstract

The papers collected in this volume were written for a conference held at the Hong Kong Monetary Authority in November 2005. It was organised jointly by the BIS Representative Office for Asia and the Pacific in Hong Kong SAR and the Hong Kong Institute for Monetary Research. The objective of the conference was to take stock of the current practice of monetary policy in a broad cross section of Asian economies. Papers on China, Hong Kong, India, Indonesia, Japan, Korea, Malaysia, the Philippines, Singapore, Thailand and Vietnam were presented and discussed at the conference and subsequently revised by the authors. In addition, the experience of a "mature" inflation targeter, the Reserve Bank of Australia, was presented. The result is an up-to-date account and assessment of the strategies followed by the respective central banks and monetary authorities.

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This book is provided by Bank for International Settlements in its series BIS Papers with number 31 and published in 2006.

ISBN: 92-9131-729-2
Handle: RePEc:bis:bisbps:31

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Related research
The following chapters of this book are listed in IDEAS:

Peter Pang, 2006. "Introductory remarks to "Monetary policy in Asia: approaches and implementation"," BIS Papers chapters, in: Bank for International Settlements (ed.), Monetary policy in Asia: approaches and implementation, volume 31, pages 1-2 Bank for International Settlements. [Downloadable!]
Malcolm Edey, 2006. "An Australian perspective on inflation targeting, communication and transparency," BIS Papers chapters, in: Bank for International Settlements (ed.), Monetary policy in Asia: approaches and implementation, volume 31, pages 3-24 Bank for International Settlements. [Downloadable!]
Marvin Goodfriend & Eswar Prasad, 2006. "Monetary policy implementation in China," BIS Papers chapters, in: Bank for International Settlements (ed.), Monetary policy in Asia: approaches and implementation, volume 31, pages 25-39 Bank for International Settlements. [Downloadable!]
Stefan Gerlach & Petra Gerlach-Kristen, 2006. "Monetary policy regimes and macroeconomic outcomes: Hong Kong and Singapore," BIS Papers chapters, in: Bank for International Settlements (ed.), Monetary policy in Asia: approaches and implementation, volume 31, pages 40-64 Bank for International Settlements. [Downloadable!]
Khor Hoe Ee, 2006. "Comments on “Monetary policy regimes and macroeconomic outcomes: Hong Kong and Singapore” by Stefan Gerlach and Petra Gerlach-Kristen," BIS Papers chapters, in: Bank for International Settlements (ed.), Monetary policy in Asia: approaches and implementation, volume 31, pages 65-70 Bank for International Settlements. [Downloadable!]
Wensheng Peng, 2006. "Comments on “Monetary policy regimes and macroeconomic outcomes: Hong Kong and Singapore” by Stefan Gerlach and Petra Gerlach-Kristen," BIS Papers chapters, in: Bank for International Settlements (ed.), Monetary policy in Asia: approaches and implementation, volume 31, pages 71-73 Bank for International Settlements. [Downloadable!]
Kaushik Bhattacharya, 2006. "Monetary policy approaches in India," BIS Papers chapters, in: Bank for International Settlements (ed.), Monetary policy in Asia: approaches and implementation, volume 31, pages 74-102 Bank for International Settlements. [Downloadable!]
Dominique Dwor-Frécaut, 2006. "Comments on: “Monetary policy approaches in India” by Kaushik Bhattacharya," BIS Papers chapters, in: Bank for International Settlements (ed.), Monetary policy in Asia: approaches and implementation, volume 31, pages 103-104 Bank for International Settlements. [Downloadable!]
Takatoshi Ito, 2006. "Japanese monetary policy: 1998-2005 and beyond," BIS Papers chapters, in: Bank for International Settlements (ed.), Monetary policy in Asia: approaches and implementation, volume 31, pages 105-132 Bank for International Settlements. [Downloadable!]
Peter J Morgan, 2006. "Comments on: “Japanese monetary policy: 1998-2005 and beyond” by Takatoshi Ito," BIS Papers chapters, in: Bank for International Settlements (ed.), Monetary policy in Asia: approaches and implementation, volume 31, pages 133-136 Bank for International Settlements. [Downloadable!]
Masaru Yoshitomi, 2006. "Comments on: “Japanese monetary policy: 1998-2005 and beyond” by Takatoshi Ito," BIS Papers chapters, in: Bank for International Settlements (ed.), Monetary policy in Asia: approaches and implementation, volume 31, pages 137-139 Bank for International Settlements. [Downloadable!]
Soyoung Kim & Yung Chul Park, 2006. "Inflation targeting in Korea: a model of success?," BIS Papers chapters, in: Bank for International Settlements (ed.), Monetary policy in Asia: approaches and implementation, volume 31, pages 140-164 Bank for International Settlements. [Downloadable!]
Tim Condon, 2006. "Comments on: “Inflation targeting in Korea: a model of success?” by Soyoung Kim and Yung Chul Park," BIS Papers chapters, in: Bank for International Settlements (ed.), Monetary policy in Asia: approaches and implementation, volume 31, pages 165-167 Bank for International Settlements. [Downloadable!]
Yang Woo Kim, 2006. "Comments on: “Inflation targeting in Korea: a model of success?” by Soyoung Kim and Yung Chul Park," BIS Papers chapters, in: Bank for International Settlements (ed.), Monetary policy in Asia: approaches and implementation, volume 31, pages 168-171 Bank for International Settlements. [Downloadable!]
Robert Neil McCauley, 2006. "Understanding monetary policy in Malaysia and Thailand: objectives, instruments and independence," BIS Papers chapters, in: Bank for International Settlements (ed.), Monetary policy in Asia: approaches and implementation, volume 31, pages 172-198 Bank for International Settlements. [Downloadable!]
Suchada Kirakul, 2006. "Comments on “Understanding monetary policy in Malaysia and Thailand: objectives, instruments and independence” by Robert Neil McCauley," BIS Papers chapters, in: Bank for International Settlements (ed.), Monetary policy in Asia: approaches and implementation, volume 31, pages 199-203 Bank for International Settlements. [Downloadable!]
Sukudhew Singh, 2006. "Comments on: “Understanding monetary policy in Malaysia and Thailand: objectives, instruments and independence” by Robert Neil McCauley," BIS Papers chapters, in: Bank for International Settlements (ed.), Monetary policy in Asia: approaches and implementation, volume 31, pages 204-206 Bank for International Settlements. [Downloadable!]
Roberto S Mariano Delano & Delano P Villanueva, 2006. "Monetary policy approaches and implementation in Asia: the Philippines and Indonesia," BIS Papers chapters, in: Bank for International Settlements (ed.), Monetary policy in Asia: approaches and implementation, volume 31, pages 207-226 Bank for International Settlements. [Downloadable!]
Akhis R Hutabarat, 2006. "Comment on: “Monetary policy approaches and implementation in Asia: the Philippines and Indonesia” by Roberto S Mariano and Delano P Villanueva," BIS Papers chapters, in: Bank for International Settlements (ed.), Monetary policy in Asia: approaches and implementation, volume 31, pages 227-231 Bank for International Settlements. [Downloadable!]
Ulrich Camen, 2006. "Monetary policy in Vietnam: the case of a transition country," BIS Papers chapters, in: Bank for International Settlements (ed.), Monetary policy in Asia: approaches and implementation, volume 31, pages 232-252 Bank for International Settlements. [Downloadable!]

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References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:

Warwick J. McKibbin & Kanhaiya Singh, 2000. "Issues in the Choice of a Monetary Regime for India," ASARC Working Papers 2000-01, Australian National University, Australia South Asia Research Centre. [Downloadable!]
Ben S. Bernanke & Ilian Mihov, 1998. "Measuring Monetary Policy," The Quarterly Journal of Economics, MIT Press, vol. 113(3), pages 869-902, August. [Downloadable!] (restricted)
Other versions:
- Bernanke, Ben S. & Mihov, Ilian, 1995. "Measuring Monetary Policy," Economics Series 10, Institute for Advanced Studies. [Downloadable!]
- Ben S. Bernanke & Ilian Mihov, 1995. "Measuring Monetary Policy," NBER Working Papers 5145, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
- Ben S. Bernanke & Ilian Mihov, 1995. "Measuring monetary policy," Working Papers in Applied Economic Theory 95-09, Federal Reserve Bank of San Francisco.
Tushar Poddar, 2004. "Domestic Competition Spurs Exports: The Indian Example," IMF Working Papers 04/173, International Monetary Fund. [Downloadable!]
Samarjit Das & Kaushik Bhattacharya, 2004. "Price Convergence across Regions in India," Bonn Econ Discussion Papers bgse1_2005, University of Bonn, Germany. [Downloadable!]
Other versions:
- Samarjit Das & Kaushik Bhattacharya, 2008. "Price convergence across regions in India," Empirical Economics, Springer, vol. 34(2), pages 299-313, March. [Downloadable!] (restricted)
John Hawkins, 2005. "Globalisation and monetary operations in emerging economies," BIS Papers chapters, in: Bank for International Settlements (ed.), Globalisation and monetary policy in emerging markets, volume 23, pages 59-80 Bank for International Settlements. [Downloadable!]
Banerjee, Abhijit & Duflo, Esther, 2004. "Do Firms Want to Borrow More? Testing Credit Constraints Using a Directed Lending Program," CEPR Discussion Papers 4681, C.E.P.R. Discussion Papers. [Downloadable!] (restricted)
Montek S. Ahluwalia, 2002. "Economic Reforms in India since 1991: Has Gradualism Worked?," Journal of Economic Perspectives, American Economic Association, vol. 16(3), pages 67-88, Summer. [Downloadable!] (restricted)
Frederic S. Mishkin, 1999. "International Experiences with Different Monetary Policy Regimes," NBER Working Papers 6965, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
Other versions:
- Mishkin, F.S., 1998. "International Experiences with Different Monetary Policy Regimes," Papers 648, Stockholm - International Economic Studies.
- Mishkin, Frederic S., 1998. "International Experiences With Different Monetary Policy Regimes," Seminar Papers 648, Stockholm University, Institute for International Economic Studies. [Downloadable!]
- Frederic S. Mishkin, 2000. "International Experiences with Different Monetary Policy Regimes," NBER Working Papers 7044, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
William Poole, 1970. "Optimal choice of monetary policy instruments in a simple stochastic macro model," Staff Studies 57, Board of Governors of the Federal Reserve System (U.S.).
Other versions:
- William Poole, 1969. "Optimal choice of monetary policy instruments in a simple stochastic macro model," Special Studies Papers 2, Board of Governors of the Federal Reserve System (U.S.).
- Poole, William, 1970. "Optimal Choice of Monetary Policy Instruments in a Simple Stochastic Macro Model," The Quarterly Journal of Economics, MIT Press, vol. 84(2), pages 197-216, May. [Downloadable!] (restricted)
Dani Rodrik & Arvind Subramanian, 2004. "From "Hindu Growth" to Productivity Surge: The Mystery of the Indian Growth Transition," NBER Working Papers 10376, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
Other versions:
- Rodrik, Dani & Subramanian, Arvind, 2004. "From 'Hindu Growth' to Productivity Surge: The Mystery of the Indian Growth Transition," CEPR Discussion Papers 4371, C.E.P.R. Discussion Papers. [Downloadable!] (restricted)
- Dani Rodrik & Arvind Subramanian, 2004. "From "Hindu Growth" to Productivity Surge: The Mystery of the Indian Growth Transition," IMF Working Papers 04/77, International Monetary Fund. [Downloadable!]
- Rodrik, Dani & Subramanian, Arvind, 2004. "From "Hindu Growth" to Productivity Surge: The Mystery of the Indian Growth Transition," Working Paper Series rwp04-013, Harvard University, John F. Kennedy School of Government. [Downloadable!]

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