Peterson Institute bookstore
The Peterson Institute for International Economics is a private, nonprofit, nonpartisan
research institution devoted to the study of international economic policy. More › ›
RSS News Feed Search

Debating China's Exchange Rate Policy
Book Data
April 2008
ISBN paper 978-0-88132-415-0
401 pp.
$28.95 $23.16
( 20 % discount)

In Brief

Share

|

Debating China's Exchange Rate Policy


edited by Morris Goldstein and
Nicholas R. Lardy

"It is a superb collection featuring eight major papers, each one followed by thoughtful comments."

Journal of Economic Literature

Description

More than two and a half years have passed since China announced a number of changes to its foreign exchange regime in July 2005. During this period, the debate on the pros and cons of China's exchange rate policy, which had begun in earnest several years earlier, intensified. This important new book, based on an Institute conference in October 2007, takes stock of exchange rate policy in China and identifies the major policy options going forward. Specific proposals presented in the volume address how best to eliminate any misalignment of the renminbi; how best to reduce pressures emanating from the sterilization of large reserve accumulation; how best to make capital flows the ally—not the enemy—of exchange rate policy; and what institutional arrangements and policy guidelines to put in place to reap the greatest benefits from management of China's large foreign exchange reserves. Leading experts—including three from China—have contributed to the volume. The keynote address by Wu Xiaoling, deputy governor to the People's Bank of China at the time of the conference, is also presented in the book.

Contributors include:

Larry Summers, Jeffrey Frankel, and Ken Rogoff, Harvard University; Simon Johnson and Steve Dunaway, International Monetary Fund; Mohamed El-Erian, Harvard Management Company; William R. Cline, Gary Clyde Hufbauer, Michael Mussa, Edwin M. Truman, and John Williamson, Peterson Institute; Barry Bosworth, Brookings Institution; Takatoshi Ito, University of Tokyo; Stephen Roach, Morgan Stanley; Fan Gang and Jin Zhongxia, People's Bank of China; Eswar Prasad, Cornell University; Shang-Jin Wei, Columbia University; Bert Hofman and Louis Kuijs, World Bank; Yung Chul Park, Seoul University; Jean Pisani-Ferry, Bruegel; Timothy Adams, Lindsey Group; and Brad Setser, Council on Foreign Relations.

UK and European Residents: Purchase this book through Eurospan for faster service.

Search the full text
of this book:



Contents
Chapters are provided for preview only.

Preface

Acknowledgments


1. China's Exchange Rate Policy: An Overview of Some Key Issues [pdf]
Morris Goldstein and Nicholas R. Lardy

2. Monetary Policy Independence, the Currency Regime, and the Capital Account in China
Eswar S. Prasad

3. Rebalancing China's Growth
Bert Hofman and Louis Kuijs

4. Estimates of the Equilibrium Exchange Rate of the Renminbi: Is There a Consensus and If Not, Why Not? [pdf]
William R. Cline and John Williamson

5. The Management of China's International Reserves: China and a Sovereign Wealth Fund Scoreboard
Edwin M. Truman

6. The US Congress and the Chinese Renminbi
Gary Clyde Hufbauer and Claire Brunel

7. Influence of the Renminbi on Exchange Rate Policies of Other Asian Currencies
Takatoshi Ito

8. IMF Surveillance over China's Exchange Rate Policy [pdf]
Michael Mussa

9. Commentary
Andrew Crockett, Fan Gang, C. Fred Bergsten, and Lawrence H. Summers

Keynote Address: China's Exchange Rate Policy and Economic Restructuring
Wu Xiaoling

About the Contributors

Index


Other books of interest:
Future of China's Exchange Rate Policy, The
Future of China's Exchange Rate Policy, The
by Morris Goldstein and
Nicholas R. Lardy
China's Rise: Challenges and Opportunities (hardcover)
China's Rise: Challenges and Opportunities (hardcover)
by C. Fred Bergsten and
Charles Freeman and
Nicholas R. Lardy and
Derek J. Mitchell
US-China Trade Disputes: Rising Tide, Rising Stakes
US-China Trade Disputes: Rising Tide, Rising Stakes
by Gary Clyde Hufbauer and
Yee Wong and
Ketki Sheth
China: The Balance Sheet
China: The Balance Sheet
by C. Fred Bergsten and
Bates Gill and
Nicholas R. Lardy and
Derek J. Mitchell
Dollar Adjustment: How Far? Against What?
Dollar Adjustment: How Far? Against What?
edited by C. Fred Bergsten and
John Williamson
Dollar Overvaluation and the World Economy
Dollar Overvaluation and the World Economy
edited by C. Fred Bergsten and
John Williamson
American Trade Politics, 4th Edition
American Trade Politics, 4th Edition
by I. M. Destler
Sustaining China's Economic Growth after the Global Financial Crisis
Sustaining China's Economic Growth after the Global Financial Crisis
by Nicholas R. Lardy