Introduction
Kyung Tae Lee (KIEP)
Ramkishen S. Rajan (George Mason University)

Chapter 1. Capital Account Liberalization and Capital Flows in Asia
1. Liberalizing China's Capital Account
Eswar S. Prasad (Cornell University)
2.What Tools are Available to Policymakers in Emerging Market Economies to Deal with Capital Inflows?
Carmen M. Reinhart (University of Maryland and the National Bureau of Economic Research)
Vincent R. Reinhart (American Enterprise Institute)

Chapter 2. Monetary Sterilization in Asia: Magnitude and Effectiveness
3.Sterilized Intervention in Emerging Asia: Is It Effective?
Hali Edison (International Monetary Fund)
Roberto Guimarães-Filho (International Monetary Fund)
Charles Kramer (International Monetary Fund)
Jacques Miniane (International Monetary Fund)
4.China as a Reserve Sink: The Evidence from Offset and Sterilization Coefficients
Alice Y. Ouyang (The Central University of Finance and Economics, Beijing)
Ramkishen S. Rajan (George Mason University)
Thomas D. Willett (Claremont Graduate University and Claremont McKenna College)

Chapter 3. Policy Coordination Issues in East Asia
5.Exchange Rate Regime and Macroeconomic Stability in East Asia
Deok Ryong Yoon (KIEP)
Jung Sik Kim (Yonsei University)
6.Price Convergence in East Asia and its Implication for Regional Monetary Integration
Woosik Moon (Seoul National University)
Yeongseop Rhee (Sookmyung University)

Chapter 4. Regional Cooperation in Asia
7.Selected Issues on Asian Monetary Cooperation
Thomas D. Willett (Claremont McKenna College and Claremont Graduate University)

Program
List of Participants