In many of Southeast Asia’s cities, critical infrastructure development is concentrated in affluent areas; and poor communities, lacking access to basic services, often resort to alternatives that may be unsafe or more expensive. Crucially for policymakers, these options leave communities...

Macro-prudential policies aimed at mitigating systemic financial risks have become part of the policy toolkit in many emerging markets and some advanced countries. Their effectiveness and efficacy are not well-known, however. Using panel data regressions, we analyze how changes in balance sheets...

Asia proved to be remarkably resilient in the face of the global financial crisis, but why was its output performance stronger than that of other regions? The paper shows that better initial conditions—in the form of lower external and financial vulnerabilities—contributed...

The paper focuses on the sharp increase in the external debt level, both sovereign and private, threatening Romania’s financial stability, associated with weaknesses and risks arising from an unpredictable business environment and an unfavourable global and regional context. The study...

Currently, the security complex from the South-East Europe, situated in the area of modern confrontation between the major European powers (Germany, Russia, Great Britain and France), is undergoing a profound political, economic and military restructuring. The USA and NATO, within the UN and...

China weathered the global financial crisis better than most, thanks to a large and timely stimulus. This stimulus, however, was mainly in the form of off-budget infrastructure spending and thus not visible in the headline fiscal data. We construct a time series for the augmented fiscal deficit...