Ch 1 Reform of the International Monetary System: Introduction and Overview (Masahiro Kawai, Peter J. Morgan) Part I International Monetary System Reforms Ch 2 International Monetary Reform: A Critical Appraisal of Some Proposals (Yung Chul Park, Charles Wyplosz) Part II Managing International...

Japan's "two lost decades" perhaps represent an extreme example of a weak recovery from a financial crisis, and are now referred to as "Japanization." More recently, widespread stagnation in advanced economies in the wake of the global financial crisis led to fears that Japanization might spread...

The Asian financial crisis (1997 - 1998) and the global financial crisis (2007 - 2009) highlighted the potential value of financial regionalism, i.e., regional-level cooperation in financial policy. This paper argues that there is a mediating role for regional-level institutions of financial...

A key lesson of the 2007-2009 global financial crisis was the importance of containing systemic financial risk and the need for a “macroprudential” approach to surveillance and regulation that can identify system-wide risks and take appropriate actions to maintain financial stability. By...

The Asian financial crisis (1997-1998) and the global financial crisis (2007-2009) highlighted the potential value of financial regionalism, i.e., regional-level cooperation in financial policy. This paper argues that there is a mediating role for regional-level institutions of financial...

The aftermath of the global financial crisis of 2007-08 underlined the importance of maintaining fiscal space and fiscal sustainability. Even though many Asian economies implemented fiscal stimulus policies during the crisis period, their fiscal conditions generally improved rapidly thereafter,...