Home Page of Ramkishen
Rajan
|
Published Articles
(Reverse
chronological order)
Revise and resubmit
"India as a Source of Capital: Focus on Outward
Foreign Direct Investment", Oxford Journal of Development
Studies, revise and resubmit
(with
Rabin Hattari).
Forthcoming
"China as a Reserve Sink: Estimating Offset and Sterilization Coefficients",
forthcoming in Journal of International Money and Finance (with
Alice Ouyang and
Tom Willett).
"Financial
Sector Deregulation in Emerging Asia: Focus on Foreign Bank Entry",
forthcoming in The Journal of World Investment and Trade (with
Sasidaran Gopalan),
"How
Flexible have Asian Exchange Rates Becomes in the Post-Crisis Era?" forthcoming in
Singapore Economic Review (with
Tony
Cavoli).
"Reserve Accumulation and Monetary Sterilization in Singapore and Taiwan",
forthcoming in Applied Economics (with
Alice Ouyang).
Published
2009
"What is the Extent
of Bilateral FDI Flows in Developing Asia", Asia
Pacific Economic Literature, 23 (2), 2009, pp.73-93
(with
Rabin Hattari).
"What
Explains Intra-Asian FDI Flows: Do Distance and Trade Matter?",
Economic Bulletin, 29 (1), 2009, pp.122-128 (with
Rabin Hattari).
"Exchange
Rate Pass-through in Korea and Thailand: Trends and Determinants",
Japan and the World Economy, 21 (1), 2009, pp.55-79(with
Amit Ghosh).
"Foreign Direct Investment and Technology Transfer under Uncertainty in a
Liberalizing Economy", International Economic
Journal, 23 (1), 2009, pp.23-41 (with
Jie Li)
"Managing Risks in a Volatile Environment: The Capital Inflows
Problem in Asia",
Economia Internazionale, LX11 (3), 2009, pp.325-340(with
Tony Cavoli).
"What is the
Extent of Exchange Rate Pass-through in Singapore?", Journal of the Asia Pacific Economy, 14
(1), 2009, pp.61-72 (with
Amit Ghosh).
"Still
Searching for the Middle Ground: Asian Exchange Rate Regimes..",
in R.S. Rajan, S. Thangavelu and R.A. Parinduri
(eds.),
Monetary and Financial Issues in Asia, World Scientific, 2008 (with
Tony Cavoli).
"Have
Exchange Rate Regimes in Asia Become More Flexible Post-Crisis?..", in Y.W. Cheung and K.Y. Wong (eds.),
China and Asia: Economic and Financial Interactions, Routledge, 2009
(with
Tony Cavoli)
"Singapore", in
National Strategies for Regional Integration: South and East Asian Studies,
G. Wignaraja, J. Francois and P.B. Rana (eds.), Anthem Press and Asian
Development Bank (with Shandre Thangavelu).
"Sovereign
Wealth Funds (SWFs)", in
Princeton
Encyclopedia of the World Economy, K. Reinert, R. Rajan, A. Glass and
Lewis Davis (eds.), Princeton University Press 2009 (with
Tom Willett).
"Hot Money and Sudden Stops",
in
Princeton
Encyclopedia of the World Economy, K. Reinert, R. Rajan, A. Glass and
Lewis Davis (eds.), Princeton University Press, 2009 (with
Ashima Goyal and
Ilan Noy).
"Capital
Controls", in
Princeton
Encyclopedia of the World Economy, K. Reinert, R. Rajan, A. Glass and
Lewis Davis (eds.), Princeton University Press, 2009 (with
Ilan Noy).
"Capital
Mobility", in
Princeton
Encyclopedia of the World Economy, K. Reinert, R. Rajan, A. Glass and
Lewis Davis (eds.), Princeton University Press, 2009 (with Tony
Cavoli).
"Fear of
Floating", in
Princeton
Encyclopedia of the World Economy, K. Reinert, R. Rajan, A. Glass and
Lewis Davis (eds.), Princeton University Press, 2009 (with Slavi Slavov).
"Exchange
Rate Pass-through", in
Princeton
Encyclopedia of the World Economy, K. Reinert, R. Rajan, A. Glass and
Lewis Davis (eds.), Princeton University Press, 2009 (with
Amit Ghosh).
2008
"Managing the Monetary
Consequences of Reserve Accumulation in Emerging Asia", Global Economic Review,
37 (2), 2008, pp.171-1999 (with
Alice Ouyang and
Tom Willett).
"Open Economy Inflation Targeting Arrangements and Monetary Policy
Rules: Application to India", India Growth and Development Review, 1 (2), 2008,
pp.237-251 (with
Tony Cavoli).
"The
Asian Currency Unit (ACU): Exploring Alternative Currency Weights", Macroeconomics and Finance in Emerging Market
Economies, 1 (2), 2008, pp.269-278 (with
Victor Pontines).
"Export Price Pass-through in Three Open Asian Economies: A Comparative
Analyses of Three Asian Economies", Global
Economic Review, 36 (3), 2008, pp.287-299 (with Amit Ghosh).
"Intra Asian FDI
Flows: Magnitudes, Trends and Determinants", in R.S. Rajan,
R. Kumar and N. Virgill (eds.), New Dimensions of Economic Globalization: New
Surge of Outward FDI from Asia, World Scientific, 2008 (with
Rabin Hattari).
"Overview:
Explaining the New Surge in Outward Direct Investment from Asia",
in R.S. Rajan, R. Kumar and N. Virgill
(eds.), New Dimensions of Economic Globalization: New Surge of Outward FDI
from Asia, World
Scientific, 2008 (with Rajiv Kumar and
Nicola Virgill).
"Extent
of Exchange Rate Flexibility in
"Reserve Stockpiling and Managing its Liquidity Impact: The Case of
India", in Macroeconomics and Finance in Emerging Market
Economies, 1 (1), 2008, pp.75-91 (with Alice Ouyang).
"Monetary
and Financial Cooperation in Asia: Taking Stock of Recent On-goings",
International Relations of the Asia-Pacific, 8 (1), 2008, pp.31-45.
"Real Sector Shocks and Monetary Policy Responses in a Financially Vulnerable
Emerging Economy",
Emerging Markets Trade and Finance, 44 (3), 2008, pp.21-33
(with Makarand Parulkar).
2007
"Inflation Targeting Arrangements in
"A
Survey of Exchange Rate Pass-through in Asia: What does the
Literature Tell us?", Asia Pacific Economic Literature, 21
(2), 2007, pp.13-28
(with Amit Ghosh).
"Managing
in the Middle: Characterizing Singapore's Exchange Rate Policy",
Asian Economic Journal, 21 (3),
2007, pp.321-342
(with
Tony Cavoli).
"Hong Kong's
Monetary Integration with Mainland China",
China and the World Economy, 15 (4), 2007, pp.17-34
(with
Tony Cavoli).
"Managing New
Style Currency Crises: The Swan Diagram Revisited",
Journal of International Development, 19 (5), 2007, pp.583-606.
"How
High is Exchange Rate Pass Through in India?", Journal of
International Trade and Development, 16 (3), 2007, pp.373-382 (with
Amit Ghosh).
"Financial
Crisis, Capital Outflows and Policy Responses", Journal of Economic Education,
38 (1), 2007, pp.92-108.
"Global
Outsourcing of Services", Harvard Asia-Pacific
Review, 9 (1), 2007, pp.39-40
"The Importance of Workers’ Remittances as a Source of Development Finance",
Georgetown Journal of International Affairs, Winter/Spring, 2007, pp.43-49.
2006
"The Capital Inflows Problem in Selected Asian Economies in the 1990s Revisited",
Asian Economic Journal, 20 (4), 2006, pp.409-423
(with
Tony Cavoli).
"Why are Crisis-Induced Devaluations Contractionary?: Exploring Alternative
Hypotheses", Journal of Economic Integration, 21 (3), 2006,
pp.526-550 (with
Shen Chung-Hua).
"Can
High Reserves Offset Weak Fundamentals? A Simple Model of Precautionary Demand
for Reserves", Economia Internazionale, 59 (3), 2006, pp.317-328 (with Jie Li).
"Finance (In East
Asia)", in H. Kharas and I. Gill (eds.), An East Asian Renaissance: Ideas
for Competitive Growth, World Bank: Washington, DC, 2006 (with H. Kharas
and E. Vostroknutova).
"Will the Greenback Remain the World’s Reserve Currency?",
Intereconomics, 41 (3), 2006, pp.124-128 (with
Jose Kiran).
"The Political Economy of Sequencing: The Trade and Monetary Components of
Regional Integration", North American Journal of Economic and
Finance, 17 (3), 2006, pp.335-341
(with Graham Bird).
"Introduction to Managing Globalisation: Lessons from China and India", in D. Kelly, R.S. Rajan and G. Goh (eds.),
Managing
Globalisation: Lessons from
"Monetary Policy Rules for Small and
Open Developing Economies: A Counterfactual Policy Analysis
"Enhancing Regional Cooperation in Financing Infrastructure Investment:
Issues and Options", Enhancing Regional
Cooperation in Infrastructure Development Including that Related to Natural
Disasters,
2005
"Precautionary Demand for Reserve Holdings in
"Asian Economic Cooperation and Integration: Sequencing of Financial, Trade
and Monetary Regionalism", in Asian Economic Cooperation and
Integration: Progress, Prospects and Challenges,
"Financial Integration in ASEAN and Beyond: Implications for Monetary
Integration", in D. Hew (ed.), Roadmap to an ASEAN Economic Community,
"The New Wave of Free Trade Agreements in
"Resolving the Interest Rate Premium Puzzle: Capital Inflows and Bank
Intermediation", in V.R. Lynde (ed.), International Banking Issue,
Nova Science:
"FDI, Trade
and the Internationalization of Production in the Asia-Pacific Region:
Issues and Policy Conundrums", Asia-Pacific Trade and
Investment Review, 1 (1), 2005,
pp.3-26.
"Trade Liberalization and the New Regionalism in the Asia-Pacific:
Taking Stock of Recent Events", International Relations of
the Asia-Pacific, 5 (2), 2005, pp.1-17.
"Financing
Development in the Asia-Pacific Region: Trends and Linkages", The
Roles of Trade and Investment Policies in the Implementation of the
Monterrey Consensus: Regional Perspectives, Studies in Trade and
Investment No.55, pp.21-65.
"Liberalization of Market Access in GATS Mode 4 and its Importance for
Developing Countries", Asia-Pacific Trade and Investment Review,
1 (2), 2005, pp.101-7 (with
Rahul Sen).
"Financing
Development in the Asia-Pacific Region: Trends and Linkages",
The Role of Trade and Investment Policies in the Implementation
of the Monterrey Consensus: Regional Perspectives, Studies in Trade
and Investment No.55, 2005, pp.21-65.
"International
and Intraregional Interest Rate Interdependence in Asia: Methodological
Issues and Empirical Results", in Monetary and Exchange
Rate Arrangement in East Asia, KIEP:
"Reserve
Adequacy in Asia Revisited: New Benchmarks Base on the Size and Composition
of Capital Flows", in Monetary and Exchange Rate
Arrangement in East Asia, KIEP: Seoul, 2005 (with Jung Sik Kim,
Jie Li, Ozan Sula and
Thomas D. Willett).
2004
"Impact of Exchange Rate Volatility on
"Does Devaluation Lead to Economic Recovery or Economic Contraction?:
Examining the Analytical Issues with Reference to
"Misalignment of the Baht and its Trade Balance Consequences for
"Measures to Attract Foreign Direct Investment: Investment Promotion,
Incentives", Economic and Political Weekly, 39,
"Choosing an Appropriate Exchange Rate Regime for Small and Open Emerging
Economies", Briefing Notes in Economics, 59 (January),
2004. Reprinted in Issues in Higher Education Volume 1,
"International Financial Flows and Regional Financial Safeguards in
"Centralized Reserve Pooling for the ASEAN Plus Three (APT) Countries",
in Monetary and Financial Cooperation in East Asia,
Palgrave-McMillan Press for the Asian Development Bank, 2004, pp.285-330
(with Reza Siregar).
"ASEAN-India Economic Relations: Current Status and Future Prospects",
Economic and Political Weekly, Special Article,
"What Does the Economic Rise of China Imply for ASEAN and 2003
"Banks,
Maturity Mismatches and Liquidity Crises: A Simple Model", Economia
Internazionale, 56 (2), 2003, pp.185-92 (with
Graham Bird).
"Banking Crisis, Restructuring and Liberalization in Emerging Economies: A
Case-Study of
"Singapore and the
New Regionalism: Bilateral Trade Linkages with Japan and the US",
The World Economy, 26 (9), 2003, pp.1325-56
(with Rahul Sen and
Reza Siregar).
"Too Much of
a Good Thing?: The Adequacy of International Reserves in the Aftermath of
Crises", The World Economy, 26 (6), 2003, pp.873-91 (with
Graham Bird).
"Why was there a
Pre-Crisis Capital Inflow Boom in Southeast Asia", Journal of
International Development 14, pp.1-19, 2003 (with
Reza Siregar and Iman
Sugema).
"Liberalisation
of Financial Services in Southeast Asia Under the ASEAN Framework Agreement on
Services (AFAS)", Journal of International Banking Law,18 (3),
pp.132-4, 2003 (with Rahul Sen).
"Emergence of
"Liberalization and Competition in the Services Sectors: Experiences from
"Economic Competitiveness and the and the Equilibrium Exchange Rate: the Case of
Singapore", in R. Rajan (ed.), Sustaining Competitiveness in the
New Global Economy: A Case Study of Singapore,
"Introduction
and Overview:
Sustaining Competitiveness in the New Global Economy", in R. Rajan
(ed.), Sustaining Competitiveness in the New Global Economy: A Case
Study of Singapore,
"Unilateral, Regional and Multilateral Options for
"The
Japan-Singapore Trade Pact: A “New Age” Economic Partnership Agreement for
the New Millenium", in P. Davidson (ed.), Trading Arrangements in the
"Will Asian Economies Gain from Liberalizing Trade in Services?",
Journal of World Trade, 36 (6), pp.1061-1069, 2002 (with
Graham Bird).
"Trade Liberalization and Poverty: Revisiting the Age-Old Debate",
Economic and Political Weekly, 37 (49), pp.4941-46, 2002.
"A Decade of Trade Reforms in India: How it Compares with East Asia",
World Economics, 3 (4), pp.1-14, 2002 (with
Rahul Sen).
"Choice
of Exchange Rate Regime: Currency Board (Hong Kong) or Monitoring Band
(Singapore)?",
Australian Economic Papers , 41 (4), pp.538-56, 2002 (with
Reza Siregar).
"Liberalisation
of International Trade in Financial Services in Selected Asian Economies",
Journal of International Financial Markets, 4 (5) pp.170-80, 2002 (with
Rahul Sen).
"Optimal Currency Baskets and the Third Currency Phenomenon: Exchange Rate
Policy in Southeast Asia", Journal of International Development, 14
(8), pp.1053-73, 2002 (with Graham
Bird).
"Regional Arrangements for Providing Liquidity in a Financial Crisis?:
Developments in
"The Collapse of the Thai Baht and a Simple "New" Second Generation Currency
Crisis Model", Economia Internazionale, 55 (1),
pp.47-54, 2002 (with Iman Sugema).
"International Financial Liberalisation in Developing Countries: Lessons from
Recent Experiences",
Economic and Political Weekly, 37 (29), July 20-26, pp.3017-21, 2002.
"Hong Kong, Singapore and the East Asian Crisis: How Important were Trade
Spillovers?", The World Economy, 25 (4), pp.503-37, 2002 (with
Rahul Sen and
Reza Siregar).
"Singapore's New
Commercial Trade Strategy: Examining the Pros and Cons of Bilateralism", in
Chang L.L. (ed.),
"Financial Crises and the Composition of International Capital Flows: Does FDI
Guarantee Stability?", Development Policy Review, 20 (2), pp.191-202,
2002 (with Graham Bird).
"Exchange Rate Policy Options for Southeast Asia: Is there a Case for Currency
Baskets?",
The World Economy, 25 (1), pp.137-63, 2002.
"Private
Capital Flows in East Asia: Boom, Bust and Beyond", in G. de Brouwer (ed.),
Financial Markets and Policies in East Asia, Routledge, pp.47-81, 2002
(with Reza Siregar).
"Still the
Weakest Link: The Domestic Financial System and Post-1998 Recovery in East Asia",
Development Policy Review, 19 (3), pp.355-66, 2001 (with
Graham Bird).
"Banks,
Financial Liberalisation and Financial Crises in Emerging Markets", The
World Economy, 24 (7), pp.889-910, 2001 (with
Graham Bird).
"Economic
Globalization: How Far and How Much Further?", World Economics, 2
(3), pp.1-18, 2001 (with Graham Bird).
"Globalization
and Tax Systems: Implications for Developing Countries with Particular Reference
to Southeast Asia", ASEAN Economic Bulletin, Special Focus Issue on
Globalization, R. Rajan (ed.), 18 (1), pp.119-39, 2001 (with
Mukul Asher).
"Regional Versus
Multilateral Solutions to Transboundary Environmental Problems: Insights from
the Southeast Asian Haze", The World Economy, 24 (5), pp.655-71, 2001
(with Chang Li Lin).
"The Economics
and Politics of Monetary Regionalism in Asia", ASEAN Economic Bulletin,
Special Focus Issue on Globalization, R. Rajan (ed.), 18 (1), pp.103-18, 2001
(with Chang Li Lin).
"Coping With and
Cashing In On Capital Volatility", Journal of International Development,
13 (1), pp.1-23, 2001 (with Graham
Bird).
"Economic
Globalization and Asia: Trade, Finance and Taxation", ASEAN Economic
Bulletin, Special Focus Issue on Globalization, R. Rajan (ed.), 18 (1),
pp.1-11, 2001.
"International
Currency Taxation and Currency Stabilisation in Developing Countries",
Journal of Development Studies, 37 (3), pp.21-38, 2001 (with
Graham Bird).
"Financial and
Macroeconomic Cooperation in ASEAN: Issues and Policy Initiatives", in M.
Than (ed.), ASEAN Beyond the Regional Crisis: Challenges and Initiatives,
Institute of Southeast Asian Studies:
"The IMF and Reform of the International Financial Architecture", Economic and Political Weekly, 36 (50), 2001.
"Are
Multinational Sales to Affiliates in High Tax Countries Overpriced? A Simple
Illustration",
Economia Internazionale, 53 (4), pp.551-7, 2000.
"Government
Bailouts and Monetary Disequilibrium: Common Fundamentals in the Mexican and
East Asian Crises", North American Journal of Economics and Finance,
11 (2), pp.123-35, 2000 (with Iman Sugema).
"Restraining
International Capital Flows: What does it Mean?", Global Economic
Quarterly, 1 (2), pp.57-80, 2000 (with
Graham Bird).
"Is
there a Case for An Asian Monetary Fund?", World Economics, 1 (2),
2000, pp.135-43 (with Graham Bird).
"Asian Monetary Regionalism as a Way Towards Financial Stability", Northwestern Journal of International Affairs, 3 (Winter), 2001, pp.33-8.
"Regional
Responses to the Southeast Asian Crisis: A Case of Self-Help or No Help?",
Australian Journal of International Affairs, 53 (3), pp. 261-81, 1999
(with Chang Li Lin).
"Time to Reconsider the Tobin Tax Proposal?", New Economy, 6 (4), 1999, pp.229-33 (with Graham Bird).
"The East Asian
Crisis: Selected Policy Issues for Financial Stability", in Working with
Peers for Financial Reforms in East Asia, Foundation for
Community-Building in the Asia-Pacific:
"The Effects of Policy Uncertainty on the Choice and Timing of Foreign Direct Investment: An Exploratory Firm-Level Analysis", Journal of Economic Development, 23 (1), pp.37-56, 1998 (with Sanjay Marwah).
"Towards an Indian Ocean Economic Alliance: Commentary on Membership Issues", Australian Journal of International Affairs, 51 (2), pp.195-213, 1997 (with Sanjay Marwah).
"On the Welfare Effects of a Customs Union Versus Unilateral Trade Policies under Scale Economies and Product Homogeneity", Journal of Economic Integration, 11 (3), pp.300-31, 1996.
"Singapore's Bilateral Merchandise Trade Linkages with Japan and the US", Asian Economic Journal, 10 (2), pp.378-89, 1996.
"Measures of Intra-Industry Trade (IIT) Reconsidered with Reference to Singapore's Bilateral IIT with Japan and the US", Weltwirtschaftliches Archiv, 132 (2), pp.378-89, 1996.
"Regional Economic Cooperation Involving Developing Countries In The Post-Cold War World: Lessons From The Asia Pacific", Development and International Cooperation, 10 (21), pp.383-404, 1995.
"
"
"Liberalization and Foreign Capital Flows in the Presence of Uncertainty and Irreversibility: Theory and Policy Considerations", Development and International Cooperation, 10 (19), pp.75-98, 1994.
