recent strong growth of china’s exports has elevated the country to a rising global economic power and caused geo-political concern to policy-makers in the country and its trading partners world-wide. what are the determinants of this growth, how has it affected major economies in asean (world bank, 2009) in particular, and what kind of evidence-based responses are required and appropriate? the...

A global Slowdown, rising oil prices, and monetary tightening in industrial countries may lead to net capital outflows which accentuate high ratios of short-term to total external debt. This paper focuses on finding consistent indicators of financial instability. Knowledge of these indicators should assist attempts to implement institutional financial reform and improve an economy's resilien...

The recent financial crises starting from one country (e.g. Mexico in 1994, Thailand in 1997) and spreading as a contagion to others (i.e. the ’tequila’ effect of the Mexican crisis on Argentina and other Latin American countries, the spread to Malaysia, Indonesia, Hong Kong, Korea, Singapore and Taiwan of the Thai crisis, the rapid spread of financial instability after the Russian crisis in th...

This paper considers the role of monetary policy in mitigating the effects of financial crises. I suppose that the economy occasionally but infrequently experiences crises, where financial variables directly affect the broader real economy. I analyze the formulation of monetary policy under such financial uncertainty, where policymakers recognize the possibility of financial crises, which leads...

Since the global financial crisis, major reforms have been launched which aim to enhance the stability of the financial system, making future systemic crises less likely and reducing collateral damage in the real economy. Evaluating the effects of these reforms needs to be part of a structured process that answers three questions: Did the reform cause an outcome? Have reforms had similar effect...

Numerous conferences organized in the aftermath of the financial crisis of 1997–98 offered analyses of what went wrong in the crisis countries. The immediacy of the crisis prompted a number of reform proposals directed toward reducing the risk of future crises. However, now that the crisis has abated, reform appears to be much lower on most political agendas, and the progress that countries are...