In the chaotic financial environment of Asia in 1997-1998, daily changes in stock prices of about 10 percent became …

similar mechanisms have played a role in ending the East Asian miracle? After a brief account of the nature of the recent … systems like those in East Asia to short-term foreign currency exposure suggests that preventive measures are also required. …

We assess links between China and the rest of emerging Asia. Some commentators have argued that China’s apparent … devaluation in 1994 may have contributed to the Asian financial crisis. We argue that the devaluation was not economically … placed pressure on other Asian exporters, we argue that the striking feature of the data is the common movement between …

This study assesses the role of the Asian financial crisis of the late 1990s in the emergence and persistence of the … large current account surpluses across non-China emerging Asia, which have been a significant counterpart to the U … investment decisions in emerging Asia, and that as the restructuring completes its course, investment rates will likely rise to …

analyze the consequences of the Federal Reserve Board's proposed pre-commitment approach (PCA) for setting market risk capital … requirements for bank trading portfolios. Under the PCA, a bank determines its own market risk capital requirement and is subject … to a known regulatory penalty should its trading activities generate subsequent losses that exceed its market risk …