Monetary Policy and Taiwan's Economy questions whether the Asian crisis could have been avoided through the application of recommendations highlighted by the contributors. The conclusion reached is that in an abstract world, perhaps; but in the world in which we live; no. It is argued that the proposals made could certainly contribute to improved policy, albeit effecting marginal improvements rather than ground breaking changes.
The contributors demonstrate that proficient monetary policy and banking regulation can be achieved through sound economic analysis that takes into account:
- monetary aggregates in monetary policy
- the role of exchange rate policies in the Asian crisis
- the relationship between the exchange rate, capital flows and central bank intervention
- similarities between the restructuring of banking systems in Asia and in Eastern Europe following the fall of communism.
This book will appeal to academics and researchers of macroeconomics - especially those with a particular interest in monetary theory and policy. Economic analysts, commercial banks, financial institutions and specialists in financial crisis will also find the book to be a fascinating read.
