China is well-placed to avoid the so-called “middle-income trap” and to continue to converge towards the more advanced … economies, even though growth is likely to slow from near double-digit rates in the first decade of this millennium to around 7 …% at the 2020 horizon. However, in order to sustain vigorous growth and improve the well-being of most citizens, renewed …

proliferated ranging from fundamentals such as differences in growth prospects to psychological factors such as herd behaviour, but …

This paper looks at the empirical determinates of foreign currency reserve holdings across a panel of around 130 …, above all in recent years. Among these countries, China and Japan are particularly notable, especially when the deviation …

and financial policies to incorporate fully the implications of the rapid pro-cyclical growth in financial leverage and …