Three novel macroeconomic policy challenges are discussed in this paper: the macroeconomic implications of China’s emergence; the implications of intensifying financial integration; and the interaction of Asia’s foreign exchange regime with monetary policy in the OECD area. First, China may...

Sovereign wealth funds have become important players in global financial markets. But their investments have repeatedly raised concerns, such as fear of industrial espionage or geopolitical threats. This paper argues that the principal motivation for setting up SWFs should put such concerns into...

Concerns about corporate governance standards have often centred on emerging markets, notably after the 1997-98 Asian crisis. A series of corporate scandals have now raised investor concerns over the quality of earnings and opaque balance sheet structures in the US and other developed countries....