01608cas a2200241 a 4500 AALejournalIMF000235 230101c9999 xx r poo 0 0eng d 5.00 USD 9781451844214 1018-5941 BD-DhAAL BD-DhAAL Koenig, Linda. Capital Inflows and Policy Responses in the As EAN Region / Linda Koenig. Washington, D.C. : International Monetary Fund, 1996. 1 online resource (50 pages) IMF Working Papers <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students This paper reviews the experience of four ASEAN countries in dealing with an unprecedently strong influx of foreign capital in the late 1980s and early 1990s. While there was some increase in inflation associated with the inflows, it was relatively minor, and real exchange rates did not appreciate. Countries responded in the first instance by using open market operations for sterilized intervention. Subsequently, the fiscal stance was tightened. There was reluctance to allow nominal currency appreciation and, with one exception, controls on capital inflows were avoided. Mode of access: Internet IMF Working Papers; Working Paper ; No. 1996/025 Full text available on IMF http://elibrary.imf.org/view/journals/001/1996/025/001.1996.issue-025-en.xml IMF e-Library