Household credit in Asia-Pacific has grown strongly over the past two decades. Managing household credit booms and their financial stability implications has become a central task for policymakers. In this article, we assess the effects of changes in interest rates and macroprudential measures...

This article questions whether the effectiveness and stability of East Asian financial systems can benefit from improved access to securitization as a form of market-based financial intermediation. The practical implication would be a greater reliance on public and private securities markets in...