This paper examines the emergent role of sustainable finance and investment in Japan and scrutinizes the need for the Japanese financial system to mitigate growing climate risks and support the transition of the Japanese economy to a low-carbon, sustainable pathway. It first illustrates Japan's...

The transition to a low carbon economy poses risks to the financial sector. In 2015, the G20 already questioned whether investments in fossil-fuel-dependent infrastructure could lead to global financial risks - the so called 'carbon bubble'. As G20 president, the German government by means of...

This paper scrutinises the state of RMB internationalisation and its likely progress over the coming years and discusses its implications for currency co-operation in East Asia. As part of its internationalisation, the RMB is gradually delinked from the dollar, which will effectively put an end...

Placing the Asian economies onto a sustainable development pathway requires an unprecedented shift in investment away from greenhouse gas, fossil fuel and natural resource intensive industries towards more resource efficient technologies and business models. The financial sector will have to...

The debt crisis in several member states of the euro area has raised doubts on the viability of European Economic and Monetary Union (EMU) and the future of the euro. While the launch of the euro in 1999 stirred a lot of interest in regional monetary integration and even monetary unification in...

Die Weltwirtschaft steuert in Richtung ökologischer Nachhaltigkeit. Aufgrund einer immer stringenteren umwelt- und klimapolitischen Regulierung setzen sich neue nachhaltige Technologien und Geschäftsmodelle durch. Diese wiederum verändern Wettbewerbsbedingungen und Standortvorteile. Kluge...

This paper investigates the relationship between global liquidity and commodity and food prices applying a global cointegrated vector-autoregressive model. We use different measures of global liquidity and various indices of commodity and food prices for the period 1980-2011. Our results support...