During the past decade, domestic government bond markets in EMEs have developed further. Market depth has increased, maturities have lengthened and the investor base has generally broadened, although the degree of progress has varied across countries and several deficiencies remain. The...

Economic and financial integration has reshaped the monetary policy frameworks and transmission channels in the emerging market economies (EMEs) over the past two decades. Economic and financial linkages have become stronger, resulting in greater synchronization of business cycles across...

This note focusses on key issues - both conceptual and practical - with regard to the measurement of inflation such as the tradeoff between different measures and the incorporation of prices not fully determined by market forces of supply and demand. It also draws on a recent survey of emerging...

This note reviews the internationalisation of emerging market (EM) currencies. It summarises various indicators and discusses some possible drivers, drawing on both historical and recent experience. The potential costs and benefits of an EM currency having international status are briefly...