This occasional paper was written by Stephen Grenville (Lowy Institute for International Policy, Australian National University and Asian Development Bank Institute).Capital flows were at the heart of the Asian Crisis of 1997-8. The inflows were too large before the crisis, and the reversals...

This occasional paper was written by Tony Latter (Hong Kong Institute for Monetary Research and the University of Hong Kong).This paper aims to move the debate on Asian monetary union forward towards concrete exploratory work.The arguments in favour of monetary union – which is taken to mean,...

This occasional paper was written by Takatoshi Ito (University of Tokyo) and Tomoko Hayashi (Japan Bank for International Cooperation).Inflation targeting has become a popular monetary policy framework for the pursuit of price stability among many countries, advanced and developing, since the...

This working paper is written by Edmund Ho-Cheung Ho (Hong Kong Monetary Authority) and Keith Law (Hong Kong Monetary Authority).This study examines the driving factors behind Asian firms’ choice of currency denomination (US dollar versus local currency) when issuing corporate bonds. Our...

This working paper is written by Ip-Wing Yu (Hong Kong Monetary Authority) and Angela Sze (Hong Kong Monetary Authority).Offshore bond issues by non-financial corporations in Emerging Asia have increased considerably since the Global Financial Crisis and warrant close monitoring as they become a...