The policy measures taken to date in the Asia-Pacific region are helping to cushion the blow of the global recession. Monetary and fiscal policy stimulus has been strong and there has been considerable attention given to strengthening the financial system. Questions, however, remain about how...

Asian economies have undergone significant transformation since 1997/98 financial crisis. In order to reduce risks of balance of payment crisis, Asian policymakers introduced a number of policy reforms, including promotion of current account surpluses, accumulation of foreign reserves and some...

In the turmoil of 20072009, troubles in a relatively small corner of the US mortgage market escalated into a crisis of global proportions. An amplification mechanism were the huge valuation losses on credit instruments, which dwarfed actual losses from default. We argue that these valuation...

The Asia Pacific region, and especially East Asia, has experienced rapid economic integration without the hard politics of legally binding economic and political treaties, unlike Europe where integration has been institutionled. The soft politics and marketled integration in East Asia set...

Asia is a region whose financial integration has not kept pace with real integration. Asias relative financial isolation has limited its exposure to the direct fallout of the global financial crisis (though it did not prevent trade links from exerting severe contractionary impact). Does this...

Japanese foreign direct investment (FDI) into China is an important aspect of one of the largest bilateral economic relationships in the world. The bilateral FDI is analysed using an FDI model combined with stochastic frontier analysis to explain the determinants of FDI, measure the performance...