Managing capital flows and exchange rates : perspectives from the Pacific basin / edited by Reuven Glick

Essays originally prepared for a conference sponsored by the Center for Pacific Basin Monetary and Economic Studies at the Federal Reserve Bank of San Francisco, held Sept. 26-27, 1996

Includes bibliographical references and index

Contents List of contributors Preface 1 Overview / Reuven Glick I Determinants of capital flows and exchange rates 2 U.S. portfolio investment in Asian capital markets / Henning Bohn, Linda L. Tesar 3 Foreign direct investment, trade, and real exchange rate linkages in developing countries / Linda S. Goldberg, Michael Klein 4 Capital inflows and the real exchange rate: Analytical framework and econometric evidence / Pierre-Richard Agenor, Alexander W. Hoffmaister 5 Risk and financial development: A comparative case study of Mexico and Indonesia / Theo S. Eicher, Stephen J. Turnovsky II Exchange rate crises and contagion 6 Exchange rate instability: Determinants and predictability / Richard A. Meese, Andrew K. Rose 7 Derivative products in exchange rate crises / Peter M. Garber, Subir Lall 8 Crisis, contagion, and country funds: Effects on East Asia and Latin America / Jeffrey A. Frankel, Sergio L. Schmukler 9 Comovements among emerging equity markets / Holger C. Wolf III Effects of capital inflows 10 Net capital inflows: How much to accept, how much to resist? / Helmut Reisen 11 The overborrowing syndrome: Are East Asian economies different? / Ronald I. McKinnon, Huw Pill 12 Capital inflows, financial intermediation, and aggregate demand: Empirical evidence from Mexico and other Pacific Basin countries / Steven B. Kamin, Paul R. Wood IV Policy responses to capital inflows 13 Speculative capital inflows and exchange rate targeting in the Pacific Basin: Theory and evidence / Kenneth Kletzer, Mark M. Spiegel 14 Too much of a good thing: The macroeconomic effects of taxing capital inflows / Carmen M. Reinhart, R. Todd Smith 15 Exchange rate policies and capital account management: Chile in the 1990s / Kevin Cowan, Jose De Gregorio Index