Masahiro Kawai

Asian Development Bank Institute (ADBI)


  • | Papers and Briefs | ADBI Working Papers

    ASEAN Economic Integration through Trade and Foreign Direct Investment: Long-Term Challenges

    This paper explores the long-term challenges for trade and foreign direct investment (FDI) of the Association of Southeast Asian Nations (ASEAN).

  • | Papers and Briefs | ADBI Working Papers

    From the Chiang Mai Initiative to an Asian Monetary Fund

    This paper summarizes and evaluates the progress of regional financial cooperation, particularly the ERPD, the CMI and its subsequent multilateralization (CMIM), and the ASEAN+3 Macroeconomic Research Office (AMRO).

  • | Books

    New Global Economic Architecture: The Asian Perspective

    This book addresses how a regional architecture in Asia can induce a supply of regional public goods that can complement and strengthen the distribution of global public goods in the global economic architecture.

  • | Papers and Briefs | ADBI Working Papers

    The Renminbi and Exchange Rate Regimes in East Asia

    Kawai and Pontines find that the US dollar continues to be the dominant anchor currency in the region, while the RMB has taken on increasing importance in the currency baskets of many East Asian economies in recent years.

  • | Papers and Briefs | ADBI Working Papers

    Is There Really a Renminbi Bloc in Asia?

    Despite the rising importance of the RMB, it has not eclipsed the US dollar as the dominant anchor currency in East Asia.

  • | Papers and Briefs | ADBI Working Papers

    Regional Financial Regulation in Asia

    The paper argues that there is a mediating role for regional-level institutions of financial regulation between national regulators in Asia and global-level institutions such as the IMF.

  • | Papers and Briefs | ADBI Working Papers

    Long-term Issues for Fiscal Sustainability in Emerging Asia

    Identification of long-term issues of fiscal sustainability risk for emerging Asian economies and policy recommendations for reducing these risks to sustainability.

  • | Papers and Briefs | ADBI Working Papers

    Banking Crises and "Japanization": Origins and Implications

    Examination of the dimensions of 'Japanization'-including low trend growth, debt deleveraging, deflation, and massive increases in government debt - and an analysis of their possible causes.

  • | Papers and Briefs | ADBI Working Papers

    Central Banking for Financial Stability in Asia

    Review of the recent literature on systemic financial risk and a 'macroprudential' approach to surveillance and regulation including relevant lessons for central banks, especially those in Asia's emerging economies.

  • | Papers and Briefs | ADBI Working Papers

    Japan's Post-Triple-Disaster Growth Strategy

    Assessment of the scope of the challenges resulting from the Great East Japan Earthquake and suggestions for a long-term strategy for overcoming them and putting the Japanese economy on a stable growth path.