《OPEN ECONOMY MACROECONOMICS IN EAST ASIA》

PART I MONEY AND GROWTH1

1: Structural adjustment to sustained economic growth in Malaysia3

2: Money, credit, asset prices and monetary transmission mechanism23

3: Output-inflation trade-off in the Asian countries49

PART II EXCHANGE RATES59

4: Purchasing power parity61

5: The dynamics of monetary exchange rate model81

6: Forecasting the exchange rates101

PART III TOWARDS A REGIONAL INTEGRATION125

7: Internal and external deficits in the ASEAN-5 economies127

8: Financial integration of East Asia : is there a Yen block?147

9: Measuring capital mobility in the Pacific Rim169

10: Financial integration and its implication for economic union in Asia197

PART IV CONTAGION AND THE CURRENCY CRISES213

11: Sources of the Asian currency crisis215

12: The economic and financial crisis in Malaysia229

Subject Index249