Home Page of Ramkishen Rajan
|
Home | Bio and CV | Publications | Teaching | Media Outreach | GMU-SPP | CEMP | JICEP | Links
Published Articles
(Reverse chronological order)
2011
and Forthcoming
"Foreign Exchange Intervention and
Reserve Accumulation in Emerging Asia: Is there Evidence of Fear of
Appreciation?",
Economics Letters, 111,
pp.252-255 (with Victor Pontines).
"How Different are FDI and FPI
Flows?", forthcoming in Journal
of Economic Integration (with Rabin Hattari).
"Real Exchange Rate
Undervaluation, Resource Allocation and East Asian Growth",
forthcoming in Journal of International
Development (with Javier Beverinotti).
"Bank Lending and Monetary Policy Transmission in
India", forthcoming in International Journal of Economics &
Business Research (with M.S. Islam).
"Globalization and Public Health in Asia",
forthcoming in R. Deetles, S. Sullivan and Tan Chorh Chuan (eds.), Public
Health in Asia, University of California, Berkeley (with E.A. Jahncke, S.
Paul and A. Seow).
"Monetary Policy and the Global Financial Crisis",
in R. Jha (ed.), Handbook of South Asian Economies, Routledge, Chapter
11 (with Rabin Hattari and M.S. Islam).
"Understanding
Intra-ASEAN FDI Flows", forthcoming in T. Cavoli and S. Listokin
(eds.), Institute of Southeast Asian Studies (with Rabin Hattari and Shandre
Thangavelu).
2010
"Exchange
Rate Regimes in Asia: Are they What they Claim to be?", Economics
Bulletin, 30 (4), 2010,
pp.2864-2876 (with Tony Cavoli).
"India
as a Source of Capital:
Focus on Outward Foreign Direct Investment", Oxford Journal of
Development Studies, 38 (4), 2010, pp.495-517 (with Rabin Hattari).
"China
as a Reserve Sink: Estimating Offset and Sterilization Coefficients" Journal
of International Money and Finance, 29 (5), 2010, pp.951-972 (with Alice
Ouyang and Tom Willett).
"India's International Reserves - How Large and How
Diversified?", Global Economy Journal, 10 (3), 2010, pp.1-16 (with Sasidaran Gopalan).
"Financial
Sector Deregulation in Emerging Asia: Focus on Foreign Bank Entry", The
Journal of World Investment and Trade, 11 (1), 2010, pp.91-108 (with
Sasidaran Gopalan).
2009
"Understanding 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?", Economics
Bulletin, 29 (1), 2009, pp.122-128 (with Rabin Hattari).
"Reserve Accumulation and Monetary Sterilization in
Singapore and Taiwan", Applied Economics, 42 (3), 2009 (with
Alice Ouyang).
"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). Expanded version published as monograph.
"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). Winner of the
Daeyang Prize of the best manuscript of the year.
"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 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).
"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
2002
"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).
2000-2001
"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:
"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.
"The IMF and Reform of the International Financial Architecture", Economic and Political Weekly, 36 (50), 2001.
Pre 1999
"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:
"Confronting
Contradictions in the Indian Economy: An Evaluation of the Past, Policies for
Future Investment and Growth", in F. Columbus (ed.), Asian Economic and
Political Issues Vol.1,
"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.