Global financial crises have demonstrated that monetary policy is not the only approach for stabilisation and robust microprudential regulation and supervision are not sufficient to mitigate risks to financial system stability. These lessons imply that policymakers, especially financial...

One of the reasons why some ASEAN countries are watchful of China is the sheer size of its economy compared to theirs. The rise of China poses some concern to them. However, the ASEAN economies are resilient—they have successfully competed with various other developing regions, and have...

The possible crucial role of international bank lending in the transmission of adverse economic disturbance from advanced economies to emerging economies in the recent global financial crisis has once again placed this type of capital flows into sharper scrutiny both in academic and policy...

This paper highlights some of the vulnerabilities seen as overarching in the SEACEN economies. As the global economy recovers, the following scenarios are probable. Firstly, a possible upward shift of interest rates in developed economies could destabilize the emerging financial markets....

The US Federal Deposit Insurance Corporation – Office of theInspector General Report (2013) and the UK’s Turner Report (2009) provide insights on the multiple contributing factors to bank failures that resulted in the unprecedented global contraction. Both reports mentioned that bank...

The paper discusses the determination of SEACEN’s optimal membership size. The theoretical basis is derived mainly from Buchanan’s Economic Theory of Clubs. The operational framework used is an optimization model that maximizes member’s benefits and cost associated with SEACEN membership....

This paper examines the scope of central banking cooperation in Asia against the backdrop of global integration. We ask the question on how multilateral organisations can be made more effective in the effort to promote policy collaboration. In this region, there is currently no initiative or...

The chief objective of our paper is to highlight basic features of the IT policies adopted by Indonesia and Thailand, and to evaluate the commitment of the monetary authorities and the overall performances of the IT regime. The results demonstrate that the IT regime in these two economies has...

Whenever a financial crisis occurs, threatening a possible financial meltdown, central banks have to be at the forefront in combating, neutralizing the crisis and restoring financial stability and economic growth. In this regard, the present sub-prime crisis which originated from the US...

The mandate of a central bank typically includes maintaining price stability and ensuring financial system stability and sustainable economic growth. In the near future, the central bank can arguably play a very important role by being a leader rather than a laggard in climatic change policies....