"Over the past decade the United States has experienced widening current account deficits and a steady deterioration of its net foreign asset position. During the second half of the 1990s, this deterioration was fueled by foreign investment in a booming U.S. stock market. During the first half...

Over the years, the demand for seamless and inexpensive cross-border payments has grown in parallel with growth in international e-commerce, remittances and tourism. Yet, cross-border payments have not kept pace with the intensive modernization that has characterized domestic payment services...

"The recent global financial crisis has shaken the confidence of developed and developing countries alike in the very blueprint of financial and macro policies that underlie the western capitalist systems. In an effort to contain the crisis from spreading, the authorities in the US and many...

The South Asia Payments and Securities Settlement Initiative (SAPI) objective is to describe and assess the payments and securities settlement systems of the countries of South Asia with a view to identifying possible improvement measures in their safety, efficiency and integrity. To assure...

This report covers the Western Hemisphere payments and securities settlement forum center for Latin American monetary studies and focuses on several issues. The first section covers economic and financial markets overview of Belarus. This section covers the financial sector, capital markets, and...

Global survey outcomes presented in this publication are divided into two main sections: Chapters I through VIII analyze the survey results and identify trends using various variable for cross-country comparisons. In addition to worldwide totals, three broad country characteristics exogenous to...

"The current account can be understood as the outcome of investment decisions made by domestic and foreign investors. These decisions can be decomposed into a portfolio rebalancing and a portfolio growth component. This paper provides empirical evidence of the importance of portfolio rebalancing...