The rise of regional monetary arrangements poses a challenge for the International Monetary Fund (IMF)'s global surveillance efforts. This paper reviews how the IMF has responded to earlier regional initiatives, from the European Payments Union of the 1950s and the Gold Pool of the 1960s to the...

The Group of Twenty (G-20) deserves credit for opening up of the "top table" of global governance to a wider representation of countries on a geographic basis in general and Asia in particular. As both a crisis committee in terms of the reverberations from the 2008 financial crisis and a...

This paper argues that calls for a New Bretton Woods system in the aftermath of the global economic crisis - similar to the remarkable 1944 Bretton Woods conference that led to the establishment of various international economic institutions - are unlikely to be answered. The likely scenario is...

It has taken two crises - the Asian financial crisis of 1997-1998 and the global financial crisis of 2007-2009 - for the international community to seriously focus on the reform of the international financial architecture for crisis prevention, management and resolution. Facing the global...

To make Asia more economically sustainable and resilient against external shocks, regional economies need to be rebalanced toward regional demand- and trade-driven growth through increased regional connectivity. The effectiveness of connectivity depends on the quality of hard and soft...

The global economic and financial landscape has been transformed over the past decade by the growing economic size and financial power of emerging economies. The new G20 summit process, which includes the largest emerging economies, has established high-level international policy cooperation in...

The global economic and financial landscape has been transformed over the past decade by the growing economic size and financial power of emerging economies. The new G20 summit process, which includes the largest emerging economies, has established high-level international policy cooperation in...

The paper firstly identifies and assesses the key developments in the Doha Round that have contributed to the present stalemate. Secondly, it presents several options that the organization could consider for defining its future work program given the new realities of global economic engagement,...

This paper argues that calls for a New Bretton Woods system in the aftermath of the global economic crisis — similar to the remarkable 1944 Bretton Woods conference that led to the establishment of various international economic institutions — are unlikely to be answered. The likely scenario...

To make Asia more economically sustainable and resilient against external shocks, regional economies need to be rebalanced toward regional demand- and trade-driven growth through increased regional connectivity. The effectiveness of connectivity depends on the quality of hard and soft...