Sovereign wealth funds (SWFs) have emerged in developing Asia as a policy response to an unprecedented accumulation of foreign exchange (FX) reserves since 2000. At the same time, developing countries have become an increasingly important source of outward foreign direct investment (FDI). The...

Global current account imbalances are one of the key macroeconomicimbalances that underlie the global financial crisis. The central objective ofthis paper is to analyze the causes and consequences of global imbalancesfrom the perspective of developing Asia. More specifically, the paperexamines...