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Managing Capital Flows in an Economic Community: The Case of ASEAN Capital account Liberalization

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  • Park, Yung Chul

    (Asian Development Bank Institute)

  • Takagi, Shinji

    (Asian Development Bank Institute)

Abstract

The paper uses the emerging Association of Southeast Asian Nations (ASEAN) Economic Community as a motivation to explore the issue of capital flow management in an economic community. Although there is an increasingly shared view that capital flow management measures should be part of the routine policy toolkit of emerging market economies, the logic of an economic community appears incompatible with extensive controls on capital flows. Substantial, if not complete, capital account liberalization must therefore take place across ASEAN.

Suggested Citation

  • Park, Yung Chul & Takagi, Shinji, 2012. "Managing Capital Flows in an Economic Community: The Case of ASEAN Capital account Liberalization," ADBI Working Papers 378, Asian Development Bank Institute.
    • Handle: RePEc:ris:adbiwp:0378
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    References listed on IDEAS

    as
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    Cited by:

    1. Choong Lyol Lee & Shinji Takagi, 2015. "Assessing the Financial Landscape for the Association of Southeast Asian Nations Economic Community, 2015," Asia and the Pacific Policy Studies, Wiley Blackwell, vol. 2(1), pages 116-129, January.
    2. Mr. Gerard J Almekinders & Mr. Alex Mourmouras & Ms. Jianping Zhou & Satoshi Fukuda & Yong Sarah Zhou, 2015. "ASEAN Financial Integration," IMF Working Papers 2015/034, International Monetary Fund.
    3. Alfredo C. Robles, 2014. "EU Trade in Financial Services with ASEAN, Policy Coherence for Development and Financial Crisis," Journal of Common Market Studies, Wiley Blackwell, vol. 52(6), pages 1324-1341, November.
    4. Khaled Guesmi & Olfa Kaabia & Ilyes Abid, 2017. "ASEAN Plus Three Stock Markets Integration," Journal of Quantitative Economics, Springer;The Indian Econometric Society (TIES), vol. 15(3), pages 565-581, September.

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    More about this item

    Keywords

    managing capital flows; economic community: asean; capital account liberalization; emerging market economies;
    All these keywords.

    JEL classification:

    • F33 - International Economics - - International Finance - - - International Monetary Arrangements and Institutions
    • F36 - International Economics - - International Finance - - - Financial Aspects of Economic Integration
    • O53 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - Asia including Middle East

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