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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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  • Bank for International Settlements, 2006. "Monetary policy in Asia: approaches and implementation," BIS Papers, Bank for International Settlements, number 31, November.
  • Handle: RePEc:bis:bisbps:31
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    References listed on IDEAS

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    4. Dani Rodrik & Arvind Subramanian, 2005. "From "Hindu Growth" to Productivity Surge: The Mystery of the Indian Growth Transition," IMF Staff Papers, Palgrave Macmillan, vol. 52(2), pages 193-228, September.
    5. International Monetary Fund, 2005. "Monetary Policy and Corporate Behavior in India," IMF Working Papers 05/25, International Monetary Fund.
    6. 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.).
    7. Alex Cukierman, 1992. "Central Bank Strategy, Credibility, and Independence: Theory and Evidence," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262031981, January.
    8. von Hagen, Jurgen, 1999. "Money growth targeting by the Bundesbank," Journal of Monetary Economics, Elsevier, vol. 43(3), pages 681-701, June.
    9. Warwick J. McKibbin & Kanhaiya Singh, 2000. "Issues in the Choice of a Monetary Regime for India," ASARC Working Papers 2000-01, The Australian National University, Australia South Asia Research Centre.
    10. Tim Callen & Dongkoo Chang, 1999. "Modeling and Forecasting Inflation in India," IMF Working Papers 99/119, International Monetary Fund.
    11. 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.
    12. 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.
    13. Samarjit Das & Kaushik Bhattacharya, 2008. "Price convergence across regions in India," Empirical Economics, Springer, vol. 34(2), pages 299-313, March.
    14. 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.
    15. William Poole, 1970. "Optimal Choice of Monetary Policy Instruments in a Simple Stochastic Macro Model," The Quarterly Journal of Economics, Oxford University Press, vol. 84(2), pages 197-216.
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