Regional Arrangements to Borrow: A Scheme for Preventing Future Asian Liquidity Crisis

목차 (Table of Contents)

• Contents
• I. Introduction
• II. Background: Regional Actions to Cope with the Asian Financial Crisis
• 1. Asian Monetary Fund: Is It Stillborn?
• 2. APEC's Response to the Financial Crisis
• 3. The New Miyazawa Initiative
• 4. The Chiang Mai Initiative
• III. Review of the M ultilateral Arrangements to Borrow
• 1. The General Arrangements to Borrow (GAB)
• 1.1 The General Arrangements in 1962-1982
• 1.2 Reform of the GAB (1982-1983)
• 2. The New Arrangements to Borrow (NAB)
• 3. Credit Arrangements of the European Community
• 3.1 The Short-Term Monetary Support Facility
• 3.2 The Very Short-Term Financing Facility
• 3.3 The Medium-Term Financial Support Facility
• 4. ASEAN Swap Arrangement
• IV. Major Issues for Asian Financial Arrangements
• 1. Rationale for Asian Financial Arrangements
• 2. Institutional Considerations for Asian Financial Arrangements
• 2.1 Asian Arrangements to Borrow under the Supervision of the IMF
• 2.2 The Asian Development Bank as the Secretariat for the AAB
• 2.3 Asian Arrangements to Borrow and the Asian Monetary Fund
• 2.4 Contingent Credit Lines for Central Banks
• 3. Moral Hazard
• 4. Credibility and Sustainability
• V. Architecture for the Asian Arrangements to Borrow
• 1. Basic Characteristics of the Asian Arrangements to Borrow
• 2. Ceilings on Borrowing and Credit Arrangements
• 3. Terms and Conditions for Lending and Borrowing
• 4. Other Operational Modalities
• VI. Agenda for the Asian Arrangements to Borrow
• 1. Feasibility
• 2. Supporting Institutional Infrastructure
• 3. Membership
• VII. Towards Monetary Arrangements in East Asia
• 1. Desirability of Asian Monetary Arrangements
• 2. Three Approaches to Asian Monetary Arrangements
• 3. Comparison of Currency Blocs in East Asia
• 3.1 Stabilization of the Real Effective Exchange Rates
• 3.2 Comparison of Various Currency Blocs
• 4. Design of the Asian Monetary System
• VIII. Conclusion
• IX. Appendices