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...

The world is becoming increasingly global. This raises important challenges for regulatory processes which still largely emanate from domestic jurisdictions. In order to eliminate unnecessary regulatory divergences and to address the global challenges pertaining to systemic risks, the...

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...

The once booming dynamic economies in Asia were drawn into a whirlpool of business failures and economic devastation following the flotation of the Thai baht in July 1997, and the consequent collapse of asset prices and currency depreciations in several East Asian countries. High growth in these...

Many Emerging Asian countries have been refining macroprudential policies, particularly since the Global Financial Crisis. For instance, they have developed policies targeting housing markets and broadly transposed the Basel III requirements into their national legislation. In the wake of the...