evidence of NDFs leading onshore markets for a few currencies. Policy approaches to NDFs vary widely across Asia from close …

The paper compares trends in financial integration within Asia with those in industrialized countries and other …

. But, after the crisis, Asia's sovereign spreads normalized, despite the debt crisis in the euro area, reflecting a fall in …

paper is to assess whether this is true for emerging Asia's economies. Using a dynamic factor model and a structural vector … auto-regression model, we show that long-term interest rates in Asia are indeed predominantly driven by global factors …-term interest rates. Nevertheless, the monetary transmission mechanism, though effective, is somewhat weaker in Asia during the …