With the revival of global economy, the issues of exit policies and rebalancing global growth have taken center stage in policy discussions. Since many emerging Asian economies presently have large current account surpluses, the issue of rebalancing has special significance for Asia. While...

Das Gutachten untersucht zunächst die polnische Wirtschaftsentwicklung des ersten Halbjahres 1989. Danach wird auf sowohl auf die Bankenreform als auch auf die Möglichkeiten und Probleme einer restriktiven Geldpolitik sowie auf weitere Elemente einer Stabilitätspolitik eingegangen....

For many observers, internationalization is the yuan's manifest destiny - an irresistible by-product of the remarkable economic success of the People's Republic of China (PRC). But is such confidence warranted? Recent history has seen the emergence of other currencies that were also expected, at...

We present a theoretical framework for policy making based on the "impossible trinity" or the "trilemma" hypothesis. A simple optimization model shows that placing more weight in terms of preference for each of the three open macroeconomic policies - exchange rate stability, financial market...

Rapid trade-led economic growth in emerging Asia has been shifting the global economic and industrial centres of gravity away from the north Atlantic, raising the importance of Asia in world trade but also altering the commodity composition of trade by Asia and other regions. What began with...