Monetary and Currency Policy Management in Asia draws lessons from crises and makes concrete macroeconomic policy recommendations aimed at minimizing the impacts of an economic and financial downturn, and setting the stage for an early return to sustainable growth. The focus is on short-term measures related to the cycle. The three main areas addressed are: monetary policy measures, both conventional and unconventional, to achieve both macroeconomic and financial stability; exchange rate policy and foreign exchange reserve management, including the potential for regional cooperation to stabilize currency movements; and ways to ease the constraints on policy resulting from the so-called ''impossible trinity'' of fixed exchange rates, open capital accounts and independent monetary policy.

This is one of the first books since the global financial crisis to specifically and comprehensively address the implications of the crisis for monetary and currency policy in emerging market economies, especially in Asia. Presenting a broad menu of policy options for financial reform and regulation, the book will be of great interest to finance experts and policy makers in the region as well as academics and researchers of financial and Asian economics and also economic development.

Contributors: J. Aizenman, M.D. Chinn, A. Filardo, S.-i. Fukuda, H. Genberg, H. Ito, M. Kawai, S. Kim, Y. Kon, P.J. Morgan, I. Patnaik, A. Shah, S. Takagi, D.Y. Yang, F. Zhai

A Joint Publication of the Asian Development Bank Institute and Edward Elgar Publishing

The history of China dates back thousands of years, with periods of decline followed by periods of growth and innovation. This book puts the last 50 years – China''s most recent period of growth – into perspective. It explores the changing national and international connections within China and between China and other parts of the world, and their importance for understanding the past, current, and future developments of the Chinese economy.

The book brings together leading international contributors from China, Japan and Europe to consider the historical developments of these connections, the importance of natural and man-made connections for the Chinese economy, the role of institutions and policies for understanding the connections and their sustainability.

This book will be of interest to scholars and researchers focusing on China, economics, geography or international trade.

The history of China dates back thousands of years, with periods of decline followed by periods of growth and innovation. This book puts the last 50 years – China''s most recent period of growth – into perspective. It explores the changing national and international connections within China and between China and other parts of the world, and their importance for understanding the past, current, and future developments of the Chinese economy.

The book brings together leading international contributors from China, Japan and Europe to consider the historical developments of these connections, the importance of natural and man-made connections for the Chinese economy, the role of institutions and policies for understanding the connections and their sustainability.

This book will be of interest to scholars and researchers focusing on China, economics, geography or international trade.

Financial inclusion and financial education are becoming increasingly recognized as key requirements for sustainable and inclusive growth, and have been recognized as such by international fora such the Group of Twenty (G20) and the OECD. However, countries in Central Asia and the South Caucasus region have generally lagged in this area. Aside from Kazakhstan, the levels of financial inclusion are substantially below the average level of developing economies. Moreover, there has been little study of the determinants of and barriers to the development of financial inclusion and financial literacy in this region.

In this study, prominent scholars in each country examine recent trends in financial inclusion in seven countries—Armenia, Azerbaijan, Georgia, Kazakhstan, Kyrgyz Republic, Tajikistan and Uzbekistan—for both individuals and small and medium-sized firms (SMEs); institutional and regulatory barriers to the expansion of financial inclusion; and policy options to support greater financial inclusion while maintaining financial stability. The book also examines issues related to the assessment of financial literacy and promotion of financial education to support greater financial inclusion in the region.

One prominent feature of the region is the relatively slow uptake of innovative financial technologies that could promote financial inclusion such as mobile phone banking, crowd funding and peer-to-peer (P2P) lending platforms. This book examines the barriers to such development, as recommends policies to facilitate the introduction of such technologies.

Monetary and Currency Policy Management in Asia draws lessons from crises and makes concrete macroeconomic policy recommendations aimed at minimizing the impacts of an economic and financial downturn, and setting the stage for an early return to sustainable growth. The focus is on short-term measures related to the cycle. The three main areas addressed are: monetary policy measures, both conventional and unconventional, to achieve both macroeconomic and financial stability; exchange rate policy and foreign exchange reserve management, including the potential for regional cooperation to stabilize currency movements; and ways to ease the constraints on policy resulting from the so-called ''impossible trinity'' of fixed exchange rates, open capital accounts and independent monetary policy.

This is one of the first books since the global financial crisis to specifically and comprehensively address the implications of the crisis for monetary and currency policy in emerging market economies, especially in Asia. Presenting a broad menu of policy options for financial reform and regulation, the book will be of great interest to finance experts and policy makers in the region as well as academics and researchers of financial and Asian economics and also economic development.

Contributors: J. Aizenman, M.D. Chinn, A. Filardo, S.-i. Fukuda, H. Genberg, H. Ito, M. Kawai, S. Kim, Y. Kon, P.J. Morgan, I. Patnaik, A. Shah, S. Takagi, D.Y. Yang, F. Zhai

A Joint Publication of the Asian Development Bank Institute and Edward Elgar Publishing

The history of China dates back thousands of years, with periods of decline followed by periods of growth and innovation. This book puts the last 50 years – China''s most recent period of growth – into perspective. It explores the changing national and international connections within China and between China and other parts of the world, and their importance for understanding the past, current, and future developments of the Chinese economy.

The book brings together leading international contributors from China, Japan and Europe to consider the historical developments of these connections, the importance of natural and man-made connections for the Chinese economy, the role of institutions and policies for understanding the connections and their sustainability.

This book will be of interest to scholars and researchers focusing on China, economics, geography or international trade.

The history of China dates back thousands of years, with periods of decline followed by periods of growth and innovation. This book puts the last 50 years – China''s most recent period of growth – into perspective. It explores the changing national and international connections within China and between China and other parts of the world, and their importance for understanding the past, current, and future developments of the Chinese economy.

The book brings together leading international contributors from China, Japan and Europe to consider the historical developments of these connections, the importance of natural and man-made connections for the Chinese economy, the role of institutions and policies for understanding the connections and their sustainability.

This book will be of interest to scholars and researchers focusing on China, economics, geography or international trade.

Financial inclusion and financial education are becoming increasingly recognized as key requirements for sustainable and inclusive growth, and have been recognized as such by international fora such the Group of Twenty (G20) and the OECD. However, countries in Central Asia and the South Caucasus region have generally lagged in this area. Aside from Kazakhstan, the levels of financial inclusion are substantially below the average level of developing economies. Moreover, there has been little study of the determinants of and barriers to the development of financial inclusion and financial literacy in this region.

In this study, prominent scholars in each country examine recent trends in financial inclusion in seven countries—Armenia, Azerbaijan, Georgia, Kazakhstan, Kyrgyz Republic, Tajikistan and Uzbekistan—for both individuals and small and medium-sized firms (SMEs); institutional and regulatory barriers to the expansion of financial inclusion; and policy options to support greater financial inclusion while maintaining financial stability. The book also examines issues related to the assessment of financial literacy and promotion of financial education to support greater financial inclusion in the region.

One prominent feature of the region is the relatively slow uptake of innovative financial technologies that could promote financial inclusion such as mobile phone banking, crowd funding and peer-to-peer (P2P) lending platforms. This book examines the barriers to such development, as recommends policies to facilitate the introduction of such technologies.