The Evolution of Central Banking and Monetary Policy in the Asia-Pacific

This book of case studies is a significant contribution to monetary macroeconomics in which country-specific experience and issues in inflation and monetary policy are reviewed and analysed in an historical context. In doing so, the key ideas and views on the sources and dynamics of inflation and monetary-policy behaviour are investigated after taking into account institutional arrangements for the conduct of fiscal and monetary policies. This book selects for study twelve diverse countries from the Asia-Pacific region including Australia, China, Hong Kong SAR (China), India, Japan, South Korea, New Zealand, the Philippines, Singapore, Sri Lanka, Thailand and the US. In addition, the book: reviews the literature on inflation, inflation volatility and monetary policy issues examines macroeconomic developments and monetary policy regimes undertakes an empirical investigation of key monetary relations discusses institutional arrangements and draws policy implications based on empirical findings on price stability, financial stability and economic growth. This volume will be of great value to students and researchers interested in banking, finance, and macroeconomic and monetary policy in the Asia-Pacific.