Emerging Asia : essays on crises, capital flows, FDI, and exchange rates / [edited by] Ramkishen S. Rajan.

Includes bibliographical references and index.

PART I: CRISIS, CAPITAL FLOWS AND EXCHANGE RATES IN ASIA -- Booms and Busts in Private Capital Flows to Emerging Asia since the 1990s -- Asia as a Source of Capital (with R. Hattari) -- Will the US Dollar Remain the Single Global Currency? (with S. Gopalan) -- Exchange Rate Regimes in Asia -- East Asia and the Real Exchange Rate (with J.H. Beverinotti) -- PART II: EXCHANGE RATE VOLATILITY, CRISES AND CONTROLS IN EMERGING ECONOMIES -- The Problem with Exchange Rate Volatility -- Capital Controls: No Longer Unorthodox -- Reconsidering the Tobin Tax -- Sovereign Debt Defaults: Concerns and Lessons -- Banking Sector Internationalisation in Asia (with S. Gopalan) -- PART III: ASIA AND THE GLOBAL FINANCIAL ARCHITECTURE -- The Global Financial Crisis of 2008-09: Implications for Emerging Asia -- Sequencing of Regional Cooperation in Asia: The Real and Financial Dimensions -- Revisiting Asian Monetary and Financial Cooperation -- The Idea and Reality of the Asian Currency Unit (ACU) -- Asia in the G20: Monetary and Financial Considerations (with S. Gopalan) -- PART IV: MONETARY AND FINANCIAL ISSUES IN INDIA -- The Global Financial Crisis and the Bank Lending Channel (with M.S. Islam) -- Macroeconomic Management during a Period of Plenty in India -- Post Global Financial Crisis: Heating up of the Inflation Debate in India (with V. Yanamandra) -- India's International Reserves: How Diversified? (with S. Gopalan) -- The Importance of Remittances in India and South Asia (with S. Gopalan) -- PART V: FOREIGN DIRECT INVESTMENT ISSUES IN ASIA -- Foreign Portfolio versus Foreign Direct Investment Flows: Are they So Different? -- Intra-Asian Foreign Direct Investment Flows (with R. Hattari) -- Revisiting India's Foreign Direct Investment Numbers (with S. Gopalan) -- Attracting Foreign Direct Investment: The Role of Financial and Fiscal Incentives -- Global Competition for Foreign Direct Investment and Investment Promotion.

Asia's share of the world's GDP, which is currently little above twenty percent, is likely to double by 2030. This has drawn much attention to the dynamic emerging Asian region, especially to the economic giants China and India. This book discusses the different aspects of contemporary international economic issues in the region in 25 short essays. They are wide-ranging in coverage, focusing on financial crises, reserve accumulation, capital flows and currency wars, on the one hand, and issues relating to foreign direct investment and developments in China and India, on the other. It is written in a manner that makes it accessible to students as well as policy-makers, practitioners and interested observers.