IDEAS home Printed from https://ideas.repec.org/
MyIDEAS: Login to save this book

Extent and Efficacy of Monetary Sterilisation in the SEACEN Countries

This study looks into the impact of capital flows that have been prevalent in some SEACEN countries prior to the recent financial crisis and examines the effectiveness of monetary sterilisation. Empirical findings suggest that monetary sterilisation is the most important policy response in Indonesia, Malaysia, the Philippines and Thailand. Evidence also indicates that open market operations (OMO) as a form of monetary sterilisation has limits and while capital controls may be effective in certain circumstances, such an option should only be temporary and implemented as a last resort.

If 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.

File URL: http://www.seacen.org/GUI/pdf/publications/research_proj/1999/rp40.pdf
Download Restriction: no

as
in new window

This book is provided by South East Asian Central Banks (SEACEN) Research and Training Centre in its series Research Studies with number rp40 and published in 1999.
ISBN: 983-9478-08-7
Handle: RePEc:sea:rstudy:rp40
Contact details of provider: Postal:
Level 5, Sasana Kijang, Bank Negara Malaysia, 2 Jalan Dato? Onn, 50480 Kuala Lumpur

Phone: 603-9195 1888
Fax: 603-9195 1801
Web page: http://edirc.repec.org/data/seacemy.html
Email:


More information through EDIRC

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.:

as in new window
  1. Guillermo A. Calvo & Leonardo Leiderman & Carmen M. Reinhart, 1996. "Inflows of Capital to Developing Countries in the 1990s," Journal of Economic Perspectives, American Economic Association, vol. 10(2), pages 123-139, Spring.
  2. Delano Villanueva, 1997. "Exports and Economic Development," Staff Papers, South East Asian Central Banks (SEACEN) Research and Training Centre, number sp58.
  3. Maurice Obstfeld & Kenneth Rogoff, 1995. "The Mirage of Fixed Exchange Rates," Journal of Economic Perspectives, American Economic Association, vol. 9(4), pages 73-96, Fall.
  4. McKinnon, Ronald I & Pill, Huw, 1997. "Credible Economic Liberalizations and Overborrowing," American Economic Review, American Economic Association, vol. 87(2), pages 189-93, May.
  5. Mohamed A. El-Erian, 1992. "Restoration of Access to Voluntary Capital Market Financing: The Recent Latin American Experience," IMF Staff Papers, Palgrave Macmillan, vol. 39(1), pages 175-194, March.
  6. Corbo, Vittorio & Hernandez, Leonardo, 1996. "Macroeconomic Adjustment to Capital Inflows: Lessons from Recent Latin American and East Asian Experience," World Bank Research Observer, World Bank Group, vol. 11(1), pages 61-85, February.
  7. Charles S. Morris & Klara Parrish, 1997. "Maintaining financial stability in a global economy : a summary of the Bank's 1997 Symposium," Economic Review, Federal Reserve Bank of Kansas City, issue Q IV, pages 23-35.
  8. Reinhart, Carmen & Calvo, Guillermo & Leiderman, Leonardo, 1994. "The capital inflows problem: Concepts and issues," MPRA Paper 13902, University Library of Munich, Germany.
  9. Goldstein, Morris, 1995. "Coping with too much of a good thing : policy responses for large capital inflows in developing countries," Policy Research Working Paper Series 1507, The World Bank.
  10. Guillermo A. Calvo, 1991. "The Perils of Sterilization," IMF Staff Papers, Palgrave Macmillan, vol. 38(4), pages 921-926, December.
  11. Sims, Christopher A, 1980. "Macroeconomics and Reality," Econometrica, Econometric Society, vol. 48(1), pages 1-48, January.
  12. Khan, Mohsin S & Mathieson, Donald J, 1996. "The Implications of International Capital Flows for Macroeconomic and Financial Policies," International Journal of Finance & Economics, John Wiley & Sons, Ltd., vol. 1(3), pages 155-60, July.
  13. Taylor, Mark P & Sarno, Lucio, 1997. "Capital Flows to Developing Countries: Long- and Short-Term Determinants," World Bank Economic Review, World Bank Group, vol. 11(3), pages 451-70, September.
Full references (including those not matched with items on IDEAS)

This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

When requesting a correction, please mention this item's handle: RePEc:sea:rstudy:rp40. See general information about how to correct material in RePEc.

For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Yunyee)

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.

This information is provided to you by IDEAS at the Research Division of the Federal Reserve Bank of St. Louis using RePEc data.