For effective monetary management in competitive economies, market-oriented central banking relies on financial markets rather than discretionary controls in adjusting overall liquidity to stabilize prices. Behind this reliance on money markets, however, is a stable long-run relationship between...

This paper discusses some of the issues involved in the EC single market programme and its repercussions on the rest of the trading world, in particular on such export-oriented communities as the ASEAN countries represent.

This is a paper delivered at the IMF-UNDP Seminar on Training of Government Officials in Techniques of Macroeconomic Management in Transition Economics: A Review of Experience and Future Needs held in July 1992, Washington, D.C. The paper outlines the development of central banking training...

This is an update of the paper which was originally prepared by invitation for the Nineteenth Conference of the Federation of ASEAN Economic Associations, hosted in Manila by the Philippine Economic Society on 8-9 December 1994. Its presentation in Manila stressed the dynamic adjustments in the...

This paper, delivered before the Japan Solidarity Committee for Asian Alumni (JASCAA) 1987 Fellowship Seminar, charts out some opportunities for trade cooperation in ASEAN to the year 2000 against an economic backdrop of worldwide balkanization of the international market place under the...

This paper provides some background on the nature, objectives, techniques and strategies of foreign exchange portfolio management as well as the relevant emerging issues.