This document provides an overview of needs and gaps in regard to early warning and response capabilities in Tonga. It consolidates information gathered in: (i) August 2014 during an early warning system (EWS) needs assessment to inform the development of the World Bank's Pacific resilience...

Economic growth in Emerging East Asia reached a cyclical peak of 7.2 percent in 2004 from which it is expected to slow only moderately to about 6 percent in 2005 and 2006. The tragic tsunami disaster, while it had a horrendous impact in terms of loss of life, is expected to have only a limited...

A second-generation model of currency crises is combined with a standard model ofbanks as providers of insurance against liquidity risk. In a pegged exchange rateregime, after funds have been committed to the banks, news arrives about the qualityof the banks’ assets and about the exchange rate...