This Technical Paper is a study of the working of urban credit cooperatives in China. It begins by putting the German, French, US and Japanese experiences into perspective, before constructing a macroeconomic analysis of the operation, institutional context and the role of urban credit...

Internet based technologies, such as mobile payments, social networks, search engines and cloud computation, will lead to a paradigm shift in financial sector. Beside indirect financing via commercial banks and direct financing through security markets, a third way to conduct financial...

Pegging in a coordinated way to a regional basket currency is considered by many as optimal for east-Asian countries. By contrast, according to existing empirical studies, these countries have most often relied on noncooperative United States dollar or G3 pegs. We show for the first time that by...