This issue has four excellent articles - Dr. William (“Bill”) M. Isaac, former Chairman of the U.S. Federal Deposit Insurance Corporation, and now a top global banking industry consultant, has submitted a thought-provoking article on lessons learned from the 2008 banking crisis in the U.S....

The paper demonstrates that the economies of Indonesia, Korea, Philippines and Thailand, which are among the first group of emerging markets to embrace the inflation targeting framework of monetary policy, tend to adopt a form of an asymmetrical exchange rate behaviour wherein appreciation...

In response to the global financial crises in the 1980s and 1990s, national and international institutions started to monitor the soundness of the financial system more intensively. A wide range of instruments/indicators is used to assess financial system stability in analytical practice. These...

Based on the authors’ empirical results, using the Extreme Value theory, they conclude that stock market performance, particularly in times of vulnerabilities, does contain some information which may signal an impending crisis. This signal can be within the same month up to between 1- 3 months...

Can a research and training institute excel in both research (R) and training (T) by crafting a “synergistic relationship” to produce what Aristotle would say “the whole is greater than the sum of its parts”? Interest in integrating research (R) and training (T) took a leap frog with the...

Most of the developing countries in the past were striving to maintain a comfortable level of foreign exchange reserves sufficient to cover imports of goods and services. These days, several emerging economies hold a high volume of foreign exchange reserves. This paper reviews the foreign...