This paper reviews the effectiveness of unconventional monetary policies and their relevance for emerging markets. Such policies may be useful either when interbank rates fall to zero, or when a credit crunch or rise in risk premium impairs the normal transmission mechanism of monetary policy....

The Asian model of export-led growth served it well in the post-war period, but prolonged sluggish growth of the developed economies following the global financial crisis, together with growing inequality and rising environmental problems, point to the need for a new growth model. The purpose of...

As an important global and regional economic power, the PRC's growth slowdown may cause large spillover effects to its neighboring economies. Using a multi-sectoral global computable general equilibrium model, this paper quantitatively investigates the impacts of a growth slowdown in the PRC for...

The aftermath of the global financial crisis of 2007-2009 has called the export-led growth model of Asian economies into question. This paper describes the contribution that macroeconomic policy can make to promote a rebalancing of growth away from dependence on exports to developed economies to...