Governors and senior officials representing some two dozen central banks from Africa and other regions of the world met at the BIS in May 2011 to discuss the monetary policy and financial stability issues facing Africa after the global financial crisis. This volume brings together the background...

Abstract: This volume collects the papers presented at the joint BIS/SAFE seminar on Capital account liberalisation in China: international perspectives, held on 12-13 September 2002 in Beijing, China. Seminar participants from outside China were mostly experienced practitioners and policymakers...

In the 1990s, Japan experienced a financial crisis after the bursting of a bubble. Although outside the scope of this paper, the seeds of the crisis might have been sown during the financial deregulation in the 1980s before the formation of asset bubbles. When the gap between competitive...

The papers on the following pages were presented and discussed at a workshop on "Modelling aspects of the inflation process and the monetary transmission mechanism in emerging market countries", held at the BIS on 15-16 January 2001. It was the first time that the BIS had arranged a meeting of...

by Gabriele Galati and Will Melick In this paper we illustrate a new analytical method and present new results on the relationship between foreign exchange market intervention and market expectations in the dollar/mark and dollar/yen markets between 1985 and 1996, and 1991 and 1996,...

Economic and financial integration has reshaped the monetary policy frameworks and transmission channels in the emerging market economies (EMEs) over the past two decades. Economic and financial linkages have become stronger, resulting in greater synchronisation of business cycles across...