"When the BIS was established in 1930 it had two purposes. The most obvious practical concern was to handle a narrowly technical issue: to create a painless or crisis-minimising method for making the transfer of German postwar reparations payments. But the new institution also had a more...

This paper surveys the nature of capital inflows into Asia since the peak of the US dollar in the first quarter of 2002 and the policy responses to them. Portfolio equity flows have become more volatile and more responsive to global equity market developments. Inflows into local bond markets...