Emerging markets have shown considerable resilience to the credit turmoil that engulfed mature markets. However, sentiment remains fragile and financial strains from the global credit crisis continue to weigh on global economic prospects. External finance has become both more costly and...

The Global Financial Stability Map was developed as a tool to interpret the risks and conditions that impact financial stability in a graphical manner. It complements other existing tools for assessing financial stability, and seeks to overcome some of the drawbacks of earlier approaches. This...

This paper applies the “market microstructure” literature to the specific features of government securities markets and draws implications for the strategy to develop government securities markets. It argues for an active role of the authorities in fostering the development of efficient...

Efforts to promote regional economic cooperation and integration in South-East Asia and particularly in the Association of South-East Asian Nations (ASEAN) countries, have received greatly increased emphasis in official circles since the Asian crisis of 1997–98. South-East Asian financial...

The paper highlights some of the key issues and gaps in the supervision of Islamic Banks, and in particular, addresses the supervisory implications of the role of investment account management. One of the key issues in Islamic banking is how to measure and manage the sharing of returns and risks...

The paper highlights some of the key issues and gaps in the supervision of Islamic Banks, and in particular, addresses the supervisory implications of the role of investment account management. One of the key issues in Islamic banking is how to measure and manage the sharing of returns and risks...

Recapitalizing banks in a systemic crisis is a complex medium-term process that requires significant government intervention and careful management at both the strategic and individual bank levels. This paper examines the range of operational and strategic issues involved and the institutional...