This paper examines the effectiveness of capital account policies for 10 emerging Asian economies from 2000 to 2015.
Carry Trades in Asia and the Pacific: Evidence on Unconventional Monetary Policies of Advanced Economies
Quantitative easing appears to have the desired effect that central banks hope for, but not negative interest rate policies.
The decline of foreign reserves in emerging East Asia, which had been rising since the turn of the millennium, reflects the reversal of these international capital flows.
This paper assesses the costs and benefits of a hard peg, specifically the use of a common currency or formation of a monetary union, for the Association of Southeast Asian Nations (ASEAN).