Managing capital flows and liquidity demand has been a central issue for emerging-market countries. In an era of global imbalances, rapid accumulation of foreign exchange reserves by surplus countries is also an issue for the international system. In a well-functioning international financial...

This paper focuses on bank rescue packages and on banks' responses to rescue offers made during banking crises. A puzzling feature of experience with banking crises is that in many cases policy authorities make offers of bank rescue, but banks are reluctant to accept these offers. Asymmetric...

Resulting from the collaborative efforts of the Economic Research Institute for ASEAN and East Asia (ERIA), the Universitas Pelita Harapan (UPH) and the World Trade Institute (WTI) at the University of Bern, this policy research initiative has sought to encourage comparative scholarship from...