Financial globalization has made monetary policy formulation in emerging market economies increasingly complicated. This timely set of studies looks at the turmoil in global financial markets, which coupled with volatile inflation poses serious challenges for central banks in these countries....

A decade and a half since the Philippines embarked on a major program of decentralization, the authors of this book have undertaken a detailed examination of all aspects of the nation's regional dynamics and policies. Their analysis extends to comparable experiences in East Asia, particularly...