The Asian Economic Integration Monitor is a semiannual review of Asia’s regional economic cooperation and integration. It covers the 48 regional members of the Asian Development Bank. This issue includes a special chapter—Multilateralizing Asian Regionalism: Approaches to Unraveling the...

Social structure of accumulation (SSA) theory suggests that economic growth in capitalist countries is characterized by lengthy periods of relatively vigorous growth, often amounting to several decades, followed by lengthy periods of relatively sluggish growth or stagnation. The periods of...

After the 2007-2009 global financial crisis and previous financial crises in Latin America, the liquidity-risk exposure of banking systems is considered one of the most important vulnerabilities. At the same time, that exposure may also be the most mysterious of those vulnerabilities, as the...

This document is a supplement to the brochure, Remittances in times of financial instability, and the map of remittances to Latin America and the Caribbean in 2008, produced by MIF. The document provides a short overview of significant trends affecting remittances and their impact on families,...

The aim of the paper is to point out the important issues of functioning of the European Union since its foundation, which are further complicated by global economic and financial crisis. In elaboration of problems, relevant studies and articles, documents of the European Union were used, as...

The recent financial crisis has reminded us (again) that the so-called great moderation of macro-financial cycle was merely a mirage. It is therefore now more than ever appropriate to study the issues of economic and financial cycle and their interconnections. In this vein of research,...

Around the globe observations demonstrate that the countries with expected near- future- inflation, unsustainable ballooning government spending and expected recession head towards a financial crisis unless significant policy transformations take place convincingly and before late. And whilst...

This chapter analyses the architecture of the International Monetary System (IMS) and the role of reserve currencies in it. We begin by describing the evolution of the IMS from the Gold Standard to the Bretton Woods system and the European integration process that led to the creation of the...

Since the first signs of the financial crisis appeared during 2007, several national governments announced initiatives to implement extensive bailout measures and recovery plans backed up with tax-payers money. The official language was very similar in all countries; extraordinary measures were...