procyclicality of bank credit dynamics to the private sector and contain systemic risk. Reserve requirements, in particular, have … new cross-country evidence on how they influence real private bank credit growth. Our results show that these instruments …

Argentina (until 2001), Eastern Europe, and Asia. An index of precommitment is derived from an analysis of legislative …

, in individual emerging market and developing countries in Asia. Notably, we provide evidence that the global monetary … condition is partly responsible for the current account surplus in Asia. We also draw implications for monetary policy …

The small states of the Asia and Pacific region face unique challenges in raising their growth potential and living … and production bases, exposure to shocks, and heavy reliance on aid. Higher fixed government costs, low access to credit …, as evidenced in the recent business cycle. The Asia and Pacific small states should continue rebuilding buffers and …

(FDEs) in Asia. This paper finds that spillovers emanating from the U.S. on FDEs in Asia have been small. The relative … insulation of emerging Asia from the global financial cycle can likely be attributed to the presence of managed capital accounts … developing Asia is likely to be small. …

The prolonged investment decline in post-Asian crisis emerging Asia, in contrast to the swift recovery of economic …