With revolutionary changes of the financial environment, due in particular to the progress of information and communication technology and the aftermath of the global financial crisis, central banks are facing new challenges in the pursuit of price, financial and exchange rate stability. This...

Can a research and training institute excel in both research (R) and training (T) by crafting a “synergistic relationship” to produce what Aristotle would say “the whole is greater than the sum of its parts”? Interest in integrating research (R) and training (T) took a leap frog with the...

This paper highlights some of the vulnerabilities seen as overarching in the SEACEN economies. As the global economy recovers, the following scenarios are probable. Firstly, a possible upward shift of interest rates in developed economies could destabilize the emerging financial markets....

This paper analyzes the effects of the trade and financial networks on the propagation of the global financial crisis of 2008. We adopt a new methodology that incorporates a dynamic network approach into econometric analysis. Some interesting results are obtained. Firstly, both the trade and...

Financial Market Infrastructures (FMIs) play a critical role in the financial system and the broader economy by facilitating the clearing, settlement and recording of monetary and other financial transactions and thereby maintaining and promoting financial stability and economic growth. However,...

There is a growing concern over the rapid increase in mortgage loans and consumer credit of households in SEACEN economies in recent years. Rising household credit has important implications for the economy. Periods of excessive credit growth has often been linked with episodes of financial and...

Countercyclical capital buffer (CCCB) has been incorporated in the Basel III framework with the aim of ensuring that banking sector capital requirements take account of the macro-financial environment in which banks operate. It is likely to address pro-cyclicality in the banking business and its...

This study attempts to review policy options available for the authorities and examine their relative effectiveness in SEACEN member economies during the recent global financial crisis. During normal times, authorities often have space and flexibility to use policies impacting macroeconomic...

This study gives a preliminary assessment of the macroeconomic impact of implementing Basel III in Malaysia. This is also an attempt to contribute to the increasing studies for emerging economies, especially focusing on SEACEN members. The Basel III standards seek to significantly increase the...

Liberalized capital accounts and financial integration can enrich a country’s welfare as long as they are appropriately coordinated with the adequate strengthening of policy frameworks. Otherwise, volatile capital flows and financial contagion, promulgated by capital account liberalization and...