Reisen, Helmut (contributor); Grandes, Martín (contributor) - 2005
of institutional investors raise the amplitudes of global credit cycles, creating volatility
and liquidity risks for the world economy. Third, Asia’s dollar peg and its rising official reserves
strengthen … Paper No. 241
DEV/DOC(2005)01
© OECD 2005 9
I. INTRODUCTION
The emergence of China and India in the world economy … prices, while policy moves outside the OECD area had only a limited global impact.
Increasingly though, policy changes — both expected or real — in China and in other big non‐
OECD countries have immediate and sometimes strong global effects on the world economy …