This paper argues that, in contrast to the popular bipolar view on exchange rate choices, intermediate regimes in general and regional exchange rate systems such as the European Monetary System (EMS) in particular should not be ruled out per se even in today's world of highly mobile capital. The...

Die Weltwirtschaft steuert in Richtung ökologischer Nachhaltigkeit. Aufgrund einer immer stringenteren umwelt- und klimapolitischen Regulierung setzen sich neue nachhaltige Technologien und Geschäftsmodelle durch. Diese wiederum verändern Wettbewerbsbedingungen und Standortvorteile. Kluge...

Focusing on Asian economies over the period 2006 to 2019, we find that while nonbank finance appears to complement rather than substitute credit provision by the traditional banking sector, weaker regulatory quality is an important driving factor. Moreover, while we find that central bank policy...

This paper examines the emergent role of sustainable finance and investment in Japan and scrutinizes the need for the Japanese financial system to mitigate growing climate risks and support the transition of the Japanese economy to a low-carbon, sustainable pathway. It first illustrates Japan's...

This paper examines the regional and global growth effects of current account imbalances in Japan, Germany, and the People's Republic of China (PRC) - the three largest persistent surplus countries - and the United States and United Kingdom, the two largest persistent deficit countries....

This paper presents the findings of a survey among 18 central banks from Asia and the Pacific regarding their views on and policies regarding sustainable finance. It also reviews recent developments in selected Asia and Pacific countries concerning sustainable finance to illustrate the actions...