"There has been much interest in understanding various dimensions of the growth and integration of emerging Asia with the rest of the world, particularly with regard to international capital flows and external financing. Nonetheless, serious academic work in this area has lagged somewhat...

The policy importance of non-core liabilities has risen to prominence in recent years with the studies of Shin and Shin (2010), Hahm, et al., (2010) and Hahm, et al., (2013) highlighting it as a useful indicator of financial procyclicality and vulnerability. In this paper, we look at non-core...