Macroeconomics for Emerging East Asia presents a distinctive approach to the study of macroeconomic theory and policy. The author develops a unique analytical framework that incorporates: (1) both internal and external balance as aspects of macroeconomic stability; (2) both the exchange rate and the interest rate as monetary policy instruments, (3) government debt sustainability as a concern of fiscal policy, and (4) global capital flows as a force to be reckoned with. The framework provides students with the foundational knowledge to analyze macroeconomic issues common to emerging economies. Concepts are illustrated using the latest empirical data and extensive case study analysis for thirteen economies of Northeast and Southeast Asia (Cambodia, China, Hong Kong, Indonesia, Korea, Laos, Myanmar, Malaysia, the Philippines, Singapore, Taiwan, Thailand, and Vietnam). The book's lucid exposition accommodates students of differing levels of preparation.
1. Fitting macroeconomics to emerging East Asia; 2. Taking the measure of emerging East Asia; 3. Microeconomic fundamentals; 4. National income and product accounts; 5. Balance of payments accounts; 6. Money; 7. Finance; 8. Exchange rates; 9. Models of equilibrium and disequilibrium; 10. Business cycles; 11. Monetary policy; 12. Fiscal policy; 13. Policy for internal and external balance; 14. Macroprudential policy; 15. Crises; 16. Epilogue.