The global financial crisis and its aftermath have triggered extraordinary policy responses in advanced countries. The impacts of these policy responses—from asset price bubbles to currency depreciations—have often been felt in the developing world. As tapering talk evolves into actual...

In the aftermath of the global financial crisis, interest in systemic risk has surged among academics and policy makers. The mitigation of systemic risk is now widely accepted as the fundamental underlying concept for the design of the post-crisis regulatory agenda. Effective mitigation requires...

The authors combine the literature on financial crises in emerging markets and developing economies with that on international migrations by investigating whether the increasingly large flows of workers' remittances can help reduce the probability of current account reversals. The rationale for...