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Over the past decade, Indonesia has developed into an important regional and global economy, as well as an active participant in the G20. The chapters in this book document the substantial improvements in the quality of macroeconomic policy that Indonesia has achieved, while also clearly laying out an agenda of measures that should be taken to safeguard these gains and further lower vulnerabilities going forward. Rather than just demonstrating progress in key macroeconomic indicators, the contributors have delved into the ways that global volatility, especially since 2008, has affected Indonesia and how that country has adjusted its policies to meet the new challenges.

Economic conditions. Economic development --- Public finance --- Indonesia --- Inflation (Finance) --- Monetary policy --- Fiscal policy --- Debts, Public --- Foreign exchange reserves --- Corporate governance --- Inflation --- Politique monétaire --- Politique fiscale --- Dettes publiques --- Réserves de change --- Gouvernance d'entreprise --- Indonésie --- Economic policy. --- Politique économique --- Corporations --- Business & Economics --- Economic History --- Politique monétaire --- Réserves de change --- Indonésie --- Politique économique --- Currency reserves, Foreign --- Foreign currency reserves --- Foreign reserves (Foreign exchange reserves) --- International reserves (Foreign exchange reserves) --- Reserves, Foreign exchange --- Debts, Government --- Government debts --- National debts --- Public debt --- Public debts --- Sovereign debt --- Business corporations --- C corporations --- Corporations, Business --- Corporations, Public --- Limited companies --- Publicly held corporations --- Publicly traded corporations --- Public limited companies --- Stock corporations --- Subchapter C corporations --- Governance, Corporate --- Finance, Public --- Reserves (Accounting) --- Finance --- Natural rate of unemployment --- Debt --- Bonds --- Deficit financing --- Business enterprises --- Corporate power --- Disincorporation --- Stocks --- Trusts, Industrial --- Industrial management --- Directors of corporations --- E-books --- Banks and Banking --- Corporate Finance --- Exports and Imports --- Public Finance --- Price Level --- Deflation --- Energy: Demand and Supply --- Prices --- Banks --- Depository Institutions --- Micro Finance Institutions --- Mortgages --- Debt Management --- Sovereign Debt --- Corporate Finance and Governance: General --- Monetary Policy --- Macroeconomics --- International economics --- Public finance & taxation --- Banking --- Ownership & organization of enterprises --- Corporate sector --- Energy subsidies --- Economic sectors --- Reserve positions --- Central banks --- Expenditure --- Banks and banking --- Expenditures, Public

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This paper reviews the issues involved in moving towards greater exchange rate flexibility and capital account liberalization in China. A more flexible exchange rate regime would allow China to operate a more independent monetary policy, providing a useful buffer against domestic and external shocks. At the same time, weaknesses in China’s financial system suggest that capital account liberalization poses significant risks and should be a lower priority in the short term. This paper concludes that greater exchange rate flexibility is in China’s own interest and that, along with a more stable and robust financial system, it should be regarded as a prerequisite for undertaking a substantial liberalization of the capital account.

Exports and Imports --- Foreign Exchange --- Current Account Adjustment --- Short-term Capital Movements --- International Investment --- Long-term Capital Movements --- Currency --- Foreign exchange --- International economics --- Exchange rate flexibility --- Capital controls --- Capital account liberalization --- Capital account --- Exchange rate arrangements --- Balance of payments --- Capital movements --- China, People's Republic of