This paper provides new empirical evidence relevant to the debate over the desirability of reforms to the way that financial markets and the international community deal with sovereign debt crises. In particular, given the ongoing opposition of investors and some sovereigns to greater use of...

This paper analyses data for the aggregate daily trading of all foreign investors in six Asian emerging equity markets and provides two new findings. First, foreigners’ flows into several markets show positive-feedback trading with respect to global, as well as domestic, equity returns. In...

Under the direction of the Asian Consultative Council of the BIS at its February 2019 meeting, the BIS Representative Office for Asia and the Pacific set up a Working Group of regional central banks to examine their policy frameworks, focusing on capital flows, exchange rates, and the joint use...