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My comments are on the original and old version of Prof. Kawai's paper (Oct. 2000). Responding to my comments, Prof. Kawai revised the paper substantially. I regard his replies with satisfaction. Especially, I think that "a currency basket system with a managed float" as a regional exchange rate arrangement is a remarkable idea. This idea should be developed in detail from now on. The paper by Masahiro Kawai shows an insightful analysis of the East Asian financial crisis. We not only understood the causes and the mechanism of the crises, and also learned the lessons from the crises. I expected, further, Kawai would propose a new design of the international monetary framework for the East Asian region in order to help the steady growth of the region, as a new architecture. But, my expectation was not fulfilled. The proposals presented were how to strengthen the existing architecture, and how to behave in the architecture. Even though I do not have any objections to the proposals, I regret that we can not see the future roles of IMF and World Bank clearly.
机译:我的评论是关于Kawai教授论文的原始版本和旧版本(2000年10月)。河合教授在回应我的意见后,对该论文进行了实质性修改。我对他的答复感到满意。尤其是,我认为作为区域汇率安排的“有浮动汇率的货币篮子制度”是一个了不起的主意。从现在起应该详细开发这个想法。河合昌宏的论文显示了对东亚金融危机的深刻分析。我们不仅了解危机的原因和机理,还从危机中吸取了教训。此外,我希望河合会为东亚地区提出一种新的国际货币框架设计方案,以帮助该地区稳定发展,成为一种新的结构。但是,我的期望没有实现。提出的建议是如何增强现有体系结构以及如何在体系结构中表现。即使我对这些建议没有异议,但我遗憾的是,我们不能清楚地看到基金组织和世界银行的未来作用。

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  • 来源
    《世界経済評論》 |2002年第11s期|p.109-110|共2页
  • 作者

    Ryuhei Okumura;

  • 作者单位

    Nagoya University;

  • 收录信息
  • 原文格式 PDF
  • 正文语种 eng
  • 中图分类 f;
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