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Asean-5 Cluster Report; Evolution of Monetary Policy Frameworks

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  • International Monetary Fund

Abstract

This paper examines the evolution of monetary policy frameworks of the Association of Southeast Asian Nations (ASEAN)-5 economies, with particular focus on changes since the Asian financial crisis and the more recent period of unconventional monetary policies in advanced economies. Monetary policy frameworks of the ASEAN-5 economies have on the whole performed well since the crisis, delivering both price and financial stability during a period of significant domestic and regional transformation and global macroeconomic and financial turmoil. Not surprisingly, therefore, successful outcomes in most cases entailed significant changes to operating frameworks and refinement of policy objectives.

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  • International Monetary Fund, 2016. "Asean-5 Cluster Report; Evolution of Monetary Policy Frameworks," IMF Staff Country Reports 16/176, International Monetary Fund.
  • Handle: RePEc:imf:imfscr:16/176
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    11. repec:wsi:jicepx:v:04:y:2013:i:03:n:s1793993313500166 is not listed on IDEAS
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    Keywords

    Monetary policy; Association of Southeast Asian Nations; Central banks; Business cycles; Capital outflows; Cross country analysis; Indonesia; Singapore; Malaysia; Thailand; Philippines;

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