The role of international banking and lending to the emerging markets has been long debated. To date, the balance of evidence supports the view that foreign bank entry into the domestic banking system has been largely a positive one. The liberalisation of local banking systems and the presence...

This paper attempts to examine the real sector propagation of the recent global financial crisis in the SEACEN economies. This is of particular interest as SEACEN economies are known for their trade-oriented nature. In particular, during the subprime crisis, weak demand, particularly in...

Although global financial stability in late 2010 and early 2011 has, in general, improved when compared to the 2008-2009 period of the sub-prime global financial crisis, vulnerabilities remain high. The recent World Economic Outlook of the IMF (WEO, September 2011) underlines the two speed...

The paper demonstrates that the economies of Indonesia, Korea, Philippines and Thailand, which are among the first group of emerging markets to embrace the inflation targeting framework of monetary policy, tend to adopt a form of an asymmetrical exchange rate behaviour wherein appreciation...

The chief objective of our paper is to highlight basic features of the IT policies adopted by Indonesia and Thailand, and to evaluate the commitment of the monetary authorities and the overall performances of the IT regime. The results demonstrate that the IT regime in these two economies has...

Whenever a financial crisis occurs, threatening a possible financial meltdown, central banks have to be at the forefront in combating, neutralizing the crisis and restoring financial stability and economic growth. In this regard, the present sub-prime crisis which originated from the US...

The mandate of a central bank typically includes maintaining price stability and ensuring financial system stability and sustainable economic growth. In the near future, the central bank can arguably play a very important role by being a leader rather than a laggard in climatic change policies....