In contrast to the situation that preceded the 1997–1998 Asian financial crisis, Asia today is a region with excess savings where corporate savings dominate. In the mid-2000s, the extent of liquidity was further amplified by massive capital flows, particularly bank-led flows. The flows were...

This paper is concerned with the development of a cooperative analysis approach for use by Diplomats and Negotiators in resolving certain difficult conflicts. It employs concepts from economics and peace science without any diminution of the urgent need for superb diplomacy and negotiations...

Although growth deceleration in the People’s Republic of China (PRC) is inevitable, if the country’s new direction of financial policy (on exchange rate, capital flows, banking, capital market) can be achieved, it will be good not only for the country but also for the rest of Asia. This is...

This paper employs multivariate GARCH models with a BEKK specification to show significant shock and volatility spillovers from mature bond markets into select emerging Asian local currency bond markets. Results reveal that while the growth of individual bond markets in recent years has been...

Premier Wen Jibao, when asked about how the Chinese government would deal with the overheating economy as indicated by the expanding money supply, bank credit and fixed investment, in a Reuters interview in April 2004, said: We need to take effective and very forceful measures to resolve those...

A fundamental restructuring of intergovernmental relations involving decentralisation and expanded autonomy for provincial and local governments is under way in Indonesia. This paper explores the intergovernmental financial system that preceded the new General Allocation Fund (DAU), with...

Applying the Institutional Model of Decentralization, the paper argues that the presumption that local democracy will impose accountability pressure on elected officials does not always hold. Even in a democratic system like in Indonesia, decentralization policy is welfare-enhancing only for the...

To the extent that financial contagion from the United States and the euro area crisis has occurred in Asia, this paper focuses on the importance of strengthening the regional financial safety nets. By conjecturing that efforts to prevent and manage a crisis are the essence of providing...

To the extent that financial contagion from the United States and the euro area crisis has occurred in Asia, this paper focuses on the importance of strengthening the regional financial safety nets. By conjecturing that efforts to prevent and manage a crisis are the essence of providing...

To the extent that financial contagion from the United States and the euro area crisis has occurred in Asia, this paper focuses on the importance of strengthening the regional financial safety nets. By conjecturing that efforts to prevent and manage a crisis are the essence of providing such...