The Asian economic crisis of the late 1990s was a consequence, in significant measure, of surges in short-term private capital inflows and subsequent outflows. Questions concerning the best
policy responses and regional cooperation initiatives to utilize capital inflows while maintaining macroeconomic stability linger to this day. Against this background, the Asian Development
Bank Institute of Japan organized a series of conferences in which policymakers, academics, and private sector participants explored and debated issues on capital flows and measures for
managing such flows. The editors (the CEO and the Director of Research at the Asian Development Bank Institute) present 16 papers arising out of those conferences. Following an introduction to
overarching issues and a survey of the literature, five "perspective papers" explore the role of central banks in managing capital flows, international experiences in managing large capital
inflows, capital controls and financial integration, and Central and Eastern European experiences of managing capital flows. Finally, country case studies of capital flow management are
presented for China, India, Indonesia, South Korea, Malaysia, the Philippines, Singapore, Thailand, and Vietnam. Annotation 穢2011 Book News, Inc., Portland, OR (booknews.com)
