The 2010 European debt crisis has revived the discussion concerning the optimum adjustment strategy in the face of asymmetric shocks. Whereas Mundell's (1961) seminal theory on optimum currency areas suggests depreciation in the face of crisis, the most recent emergence of competitive...

The global crisis is now in the rear view mirror and world growth is being restored. In sharp contrast with past episodes of global turmoil, this time the recovery is led by the periphery, specifically by the larger and more dynamic emerging markets (Brazil, China, India, South Korea, Malaysia,...

Der Journalist Reichhart bietet hier einige kurze und hochaktuelle Einblicke in das moderne China. Der Autor lebt seit Jahren in diesem Land und hat viel von seinen beruflichen Erfahrungen einfliessen lassen. Ein kurzer Überblick über die Lage in diesem immer wichtiger werdenden Land....

1. The global financial crisis : the great recession and the recovery -- 2. Asian economic architecture before the global financial crisis -- 3. Global financial market turbulence and its impact on the Asian economy -- 4. The Asian economy spearheading the global recovery -- 5. A leadership role...

This paper assesses the effectiveness of stabilization policies and structural reforms in Albania since 1997 and seeks to identify the remaining key challenges in various policy areas. It also draws lessons for other transition economies from the recent Albanian experience. While progress has...