The global crisis of 2008-09 went in hand with sharp fluctuations in capital flows. To some extent, these fluctuations may have been attributable to uncertainty-averse investors indiscriminately selling assets about which they had poor information, including those in geographically distant...

Achieving Financial Stability in Asia sets out to identify the elements which could restore confidence to the countries of the region and stabilise financial flows on a global basis. Thus, measures must be taken which include improving public and corporate governance, strengthening democracy and...

Rapid globalisation has brought substantial benefits to developing Asia, but it has also heightened the risks associated with policy mistakes, weak financial institutions, and problems in corporate and public governance. The 1997 Asian crisis has demonstrated the urgent need to rethink the...