The paper discusses the financial landscape of the Association of Southeast Asian Nations (ASEAN), a region engaged in building an economic community (a “single market and production base”) by 2015. In particular, it reviews where ASEAN’s financial markets and institutions now stand and...

Post-2001 studies on Japanese official intervention, though divergent in results, generally support the effectiveness of daily intervention in influencing yen–dollar exchange rate returns. Studies are less conclusive about the impact on volatility. Any impact of intervention appears to be...

This note explores the signaling effect of foreign exchange market intervention in countries, such as Japan, the United Kingdom and the United States, where separate agencies are responsible for intervention and monetary policy. An important part of the signaling effect operates when an entity...

This volume book brings together nine background papers prepared for an evaluation by the IMF Independent Evaluation Office of 'the IMF and the crises in Greece, Ireland, and Portugal.' It presents an authoritative work on the evolving relationship between the IMF and the euro area, a common...

"This evaluation seeks to help the IMF enhance its effectiveness by identifying major recurring issues from the IEO's first 20 evaluations and assessing where they stand. These issues have affected the IMF's performance in all of its core areas of responsibility: surveillance, lending, and...