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Eswar Prasad

For Eswar Prasad's latest contributions to The Japan Times, see below:

/ Aug 5, 2010

Singing the siren song of capital controls

ITHACA, New York — Capital controls are back in vogue. Facing sharp currency appreciation and fearing asset-price booms fueled by hot money, countries such as Indonesia, Korea, and Taiwan have recently taken steps to limit inflows. Nervous central bankers in many other emerging markets, including ...

/ Nov 23, 2006

What monetary policy does China need?

PRAGUE -- China's remarkable growth has been financed recently by a rapid expansion of money and bank credit that is producing an increasingly unsustainable investment boom. This renews concern that the country may not be able to avert a replay of the painful boom-and-bust ...