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The Evolution of Asian Financial Linkages
Selim ElekdagMr.Phurichai RungcharoenkitkulMr.Yiqun Wu
其他書名
Key Determinants and the Role of Policy
出版International Monetary Fund, 2012-11-01
主題Business & Economics / Finance / GeneralBusiness & Economics / Banks & BankingBusiness & Economics / Foreign Exchange
ISBN14755886829781475588682
URLhttp://books.google.com.hk/books?id=m2EZEAAAQBAJ&hl=&source=gbs_api
EBookSAMPLE
註釋This paper examines how Asian financial linkages with systemic economies have changed over time. After developing a factor model, it estimates Asian financial sensitivities to systemic economies, and then seeks to uncover their key determinants, which include trade and financial linkages, as well as policies. In line with Asia’s growing role in the global economy—including through deeper financial integration—regional financial markets have become more sensitive to systemic economies. Asian financial sensitivities to systemic economies exhibit cyclical fluctuations, and reached historically high levels during the latest global financial crisis of 2008–09. While macroeconomic policy frameworks have helped Asian economies cope well with market turbulence, they cannot completely insulate Asian financial markets against major global financial shocks.