European Union (EU) countries offer a unique experience of financial regulatory and supervisory integration, complementing various other European integration efforts following the Second World War. Financial regulatory and supervisory integration was a very slow process before 2008, despite...

This study provides comparative perspectives on the current and prospective situation of financial market development in ASEAN, the PRC, and India, identifies key priorities for strengthening financial infrastructure to promote financial development and regional integration, and produces policy...

This paper discusses what is longevity risk, why it is important, approaches used by the West to manage longevity risk and what lessons can be learnt by Asian countries from the experiences of the West. Increasing and uncertain longevity has emerged as a key risk affecting individuals, pension...

The ultimate goal of this contribution is to formulate fish trade policy recommendations that can be deployed to help achieve the relevant Sustainable Development Goals of the United Nations (SDGs). Even though all the 17 SDGs are relevant to the issues addressed in this contribution, I will...

Financial sector development can play a crucial role in driving economic growth. Innovation in the payment system can potentially impact output, prices, and monetary policy transmissions. However, there is a conspicuous lack of work on the role of the payment system in driving economic activity,...

Digital transformation is changing how and by whom financial services are provided, how payments are made within an economy and across borders, and how and where goods and services are produced in a globalized economy. These transformations bring significant benefits in the form of greater...

Given its developmental underpinnings, adaptation finance has remained largely within the government purview of many developing countries. However, due to the exacerbation of climate impacts, there is a dire need to augment this source with private capital. This paper discusses the current...

This paper examines the motivation for, and the success of, regional efforts in Asia to promote local currency bond markets. The analysis demonstrates that Asian local currency bond markets made substantial gains as a region going into the current global financial crisis. However, we argue that...

In this paper I review the use of precautionary measures aimed at mitigating emerging markets' exposure to fragility associated with financial integration. The discussion draws possible lessons from the ongoing global liquidity crisis. The fear of losing international reserves (IR) constrained...

This paper discusses the role of state intervention for prevention, containment, and resolution of financial crises based mainly on the Korean experience during the 1997 Asian financial crisis. Crises in emerging market and developing economies tend to be more complicated than those faced by...