SOME SALIENT ISSUES RAISED BY THE GLOBAL FINANCIAL CRISIS
The recent global financial crisis has raised a number of important issues. This paper discusses five specific issues: first, macroprudential regulation, an issue related to the cause of the crisis; second, management of economic openness, an issue especially relevant for emerging market economies; third, diverse measures for coping with instability due to capital outflows, for example self-protection through foreign exchange reserve accumulation as well as international and regional cooperation; fourth, the future of the international monetary system, in particular the dollar-centred system; and fifth, the implications of the crisis for the economics profession. Copyright 2010 The Authors. Journal compilation 2010 Blackwell Publishing Asia Pty Ltd
Year of publication: |
2010
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Authors: | Kim, KyungSoo ; Chey, Hyoung-Kyu |
Published in: |
Pacific Economic Review. - Wiley Blackwell. - Vol. 15.2010, 1, p. 1-10
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Publisher: |
Wiley Blackwell |
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