(OCC 56) Financial Contagion and Volatile Capital Flows by Gan-Ochir Doojav, Borkhuu Gotovsuren and Tsenddorj Dorjpurev
(OCC 56) Financial Contagion and Volatile Capital Flows by Gan-Ochir Doojav, Borkhuu Gotovsuren and Tsenddorj Dorjpurev
Liberalized capital accounts and financial integration can enrich a country’s welfare as long as they are appropriately coordinated with the adequate strengthening of policy frameworks. Otherwise,...
Author(s): Gan-Ochir Doojav, Borkhuu Gotovsuren and Tsenddorj Dorjpurev
Published Date: December , 2012
(OCC 55) China’s Twelth Five-Year Plan and its Implications to ASEAN Economies by Somsak Tambunlertchai and Aksornri Phanishsarn
One of the reasons why some ASEAN countries are watchful of China is the sheer size of its economy compared to theirs. The rise of China poses some concern to them. However, the ASEAN economies a...
Author(s): Somsak Tambunlertchai and Aksornri Phanishsarn
Published Date: August , 2012
(OCC 54) How Should We Bank With Foreigners An Empirical Assessment of Lending Behaviour of International Banks to Six East Asian Economies by Victor Pontines and Reza Y. Siregar
The possible crucial role of international bank lending in the transmission of adverse economic disturbance from advanced economies to emerging economies in the recent global financial crisis has ...
Author(s): Victor Pontines and Reza Y. Siregar
Published Date: March , 2012
(OCC 52) Endogenous Money A Structural Model of Monetary Base by Ho Dong Ching
In this paper a structural monetary base model is developed. An important feature of this approach is that the model combines three parts of the determinants of the monetary base. The three parts a...
Author(s): Ho Dong Ching
Published Date: April , 2011
(OCC 53) Central Bank Governance and Challenges Posed By the Crisis by Y.V. Reddy
In the first section of this paper it will be explained that though generalizations are misleading some of the central banks especially among the advanced and systemically important economies may h...
Author(s): Y.V. Reddy
Published Date: April , 2011
(OCC 51) Revitalising Reserve Requirement In Banking Model: An Industrial Organisation Approach by Iman Gunadi and Cicilia A. Harun
The objective of reserve requirement as a policy tool is mainly to control money supply in the economy. However the changes of reserve requirement also affect banks interest rates. Thus the changes...
Author(s): Iman Gunadi and Cicilia A. Harun
Published Date: January , 2011
(OCC 50) Inflation Targeting under Imperfect Credibility Based on the Aggregate Rational Inflation-Targeting Model for Bank Indonesia (ARIMBI): Lessons from the Indonesian Experience by Harmanta M. Barik Bathaluddin and Jati Waluyo
Credibility is one of the central issues in conducting monetary policy. It is necessary in order to anchor the economic agents expectation on the central banks inflation target. A central bank whic...
Author(s): Harmanta M. Barik Bathaluddin and Jati Waluyo
Published Date: December , 2010
(OCC49) Marrying Monetary Policy with Macroprudential Regulation: Exploration of Issues by Don Nakornthab and Phurichai Rungcharoenkitkul
Since the eruption of the global financial crisis in 2008, macroprudential regulation has become a mantra in the regulatory world. The soon-to-be-widespread adoption of macroprudential tools will...
Author(s): Don Nakornthab and Phurichai Rungcharoenkitku;
Published Date: November , 2010
(OCC48) Global Shocks and Economic Stability in Asia and The Pacific by Mr Gudmundsson and Philip D. Wooldridge
Global shocks challenged the stability of Asia-Pacific economies in 2008 and will most likely remain a source of strain in 2009. Authorities in many countries took a range of actions to secure fina...
Author(s): Mr Gudmundsson and Philip D.Wooldridge
Published Date: March , 2009
(OCC47) Financial Deepening to Support Monetary Stability and Sustainable Economic Growth by Bank Indonesia
This Occasional Paper prepared by Bank Indonesia served as a background paper to facilitate discussions on Financial Deepening to Support Monetary Stability and Sustainable Growth among the SEACEN ...
Author(s): Bank Indonesia
Published Date: August , 2008
(OCC46) Living With Volatilities: Managing Exchange Rate and Capital Flows in The SEACEN Economies by Bank of Thailand prepared by Chaipat Poonpatpibul and Don Nakornthab
This Occasional Paper was prepared by Bank of Thailand as a background paper to facilitate discussions among the SEACEN Governors at the 42nd SEACEN Governors Conference held on 27-29 July 2007 in ...
Author(s): Chaipat Poonpatpibul and Don Nakornthab
Published Date: January , 2008
(OCC45) Effective Financial System Stability Framework by Wimboh Santoso and Sukarela Batunanggar
This paper analyses the concept of financial system stability and how it is practiced as one of the key objectives of a central bank. The paper discusses five main topics related to financial syste...
Author(s): Wimboh Santoso and Sukarela Batunanggar
Published Date: January , 2007
(OCC44) New Deposit Insurance Systems in East Asia by David K. Walker
The last decade has seen tremendous growth in the number of deposit insurance systems around the world. This has been particularly noticeable in East Asia driven by such factors as rapid financial ...
Author(s): David K. Walker
Published Date: January , 2006
(OCC42) Use and Substitution of Cash and Electronic Payments in Asia by Tanai Khiaonarong and David Humphrey
The substitution of electronic payments for paper-based non-cash transactions and the share of cash in the value of consumption are investigated for Hong Kong Japan Korea Singapore Taiwan and Thail...
Author(s): Tanai Khiaonarong and David Humphrey
Published Date: January , 2005
(OCC43) Towards Achieving Financial Stability by Reserve Bank of Fiji
One of the main responsibilities of central banks is to ensure financial stability. In recents years the task is even more challenging with liberalisation and increasing integration with global mar...
Author(s): Reserve Bank of Fiji
Published Date: January , 2005
(OCC39) A Successful Effort in Management of Corporate Debt Restructuring in Thailand: Lessons Learnt by Tumnong Dasri
To support the workout process and resolution of NPL problems the Thai authorities instituted a number of important policies under a general philosophy of maximising the creditors chances of gettin...
Author(s): Tumnong Dasri
Published Date: January , 2004
(OCC40) Inflation Forecasting in Bank Indonesia by Halim Alamsyah
Since the enactment of the New Central Bank Act in 1999 Bank Indonesia is mandated to pursue a single objective of achieving and maintaining the stability of the rupiah value primarily meant as low...
Author(s): Halim Alamsyah
Published Date: January , 2004
(OCC41) Technological Investments in Payment Systems: Key Lessons for Project Management by Bambang S. Wahyudi
As many developing countries in the world are moving towards a free market economy the attainment of an efficient banking system becomes a top priority. A good working banking system allows private...
Author(s): Bambang S. Wahyudi
Published Date: January , 2004
(OCC37) International Capital Movements from an Australian Perspective by Chris Becker
There has been recent interest in the role of capital flows in the process of exchange rate determination given the apparent breakdown of traditional relationships between fundamentals and currenci...
Author(s): Chris Becker
Published Date: January , 2003
(OCC38) Global Economic Slowdown: Macroeconomic Impact and Policy Options for SEACEN Countries by Ravindra Prasad Pandey / P. N. Weerasinghe
The synchronised economic downturn in the U.S. Euro area and Japan in 2001 mainly caused by a correction in the global IT sector and the events of September 2001 sharply reduced the export demand i...
Author(s): Ravindra Prasad Pandey / P. N. Weerasinghe
Published Date: January , 2003
(OCC33) Setting Monetary Policy in East Asia: Goals Developments and Institutions by Robert N McCauley
This paper presents a comprehensive and analytical review of monetary policy-making in the East Asian economies since the 1997 financial crisis. Focusing on the three key issues of objectives instr...
Author(s): Robert N McCauley
Published Date: January , 2002
(OCC34) Open Market Operations & Effectiveness of Monetary Policy by Dr. Pichit Patrawimolpon
The paper attempts to explore and compare a number of key developments in monetary management in selected advanced economies with Thailand. It starts off with (i) a simple model of central banking ...
Author(s): Dr. Pichit Patrawimolpon
Published Date: January , 2002
(OCC35) Comprehensive Early Warning System and the Experience of the Canada Deposit Insurance Corporation (CDIC) by David Walker
This paper primarily focuses on the Canada Deposit Insurance Corporation approaches to assess risk exposure through early warning system (EWS) for its individual member financial institutions drawi...
Author(s): David Walker
Published Date: January , 2002
(OCC36) Protecting Banks from Liquidity Shocks: The Role of Deposit Insurance and Lending of Last Resort by Joo A.C. Santos
This paper reviews the literature on the two arrangements that most countries adopted to protect banks from liquidity shocks a lender of last resort and deposit insurance and compares the design of...
Author(s): Joo A.C. Santos
Published Date: January , 2002
(OCC31) Institutional Allocation of Bank Regulations: A Review by Joo A.C. Santos
This paper builds on the materials prepared for the SEACEN Seminar on National Institutional Arrangements in Banking Supervision held in Taipei during 29-31 March 2000. It surveys the arrangements ...
Author(s): Joo A.C. Santos
Published Date: January , 2001
(OCC32) Transitioning from Blanket to Limited Deposit Guarantees: Thailand Policy Considerations by David Walker and Pongsak Hoontrakul
In the context of Thailands unique banking system structure - highly concentrated in both banks and large depositors - the paper proposes an innovative two-tier hybrid DIS model. A publicly adminis...
Author(s): David Walker and Pongsak Hoontrakul
Published Date: January , 2001
(OCC28) Use and Liberalisation of Capital Controls: Country Experiences and Issues by R. Barry Johnston and Jorge Ivan Canales-Kriljenko
This paper reviews the issues involved in the use and liberalisation of capital controls as experienced by some of the IMF member countries. Apart from reviewing the nature and scope of capital con...
Author(s): R. Barry Johnston and Jorge Ivan Canales-Kriljenko
Published Date: January , 1999
(OCC29) Canada Deposit Insurance: Moral Hazard and the Safety Net and a Differential Premium System by David Walker
This paper consists of two parts. Part I discusses the Canadian experience with moral hazard and deposit insurance. It takes a look at the benefits and costs of deposit insurance and the future pol...
Author(s): David Walker
Published Date: January , 1999
(OCC30) An Assessment of the Causes of Financial Instability and Possible Policy Solutions by Geof Mortlock
This paper provides an excellent summary of the main issues relating to financial stability and offers some suggestions on the policies that can be adopted to reduce the potential for systemic inst...
Author(s): Geof Mortlock
Published Date: January , 1999
(OCC21) Timing and Sequencing of Financial Sector Reforms: Evidence and Rationale by Deena Khatkhate
This paper has five sections. Section I covers the introduction while Section II presents a brief account of a changing perspective on financial reform as it has evolved since the 1970s both from t...
Author(s): Deena Khatkhate
Published Date: January , 1998
(OCC22) High Real Interest Rates Under Financial Liberalisation: Is There A Problem by Vicente Galbis
This study which used a sample of 28 countries that underwent financial liberalisation since the 1970s examines the evidence on the emergence of high real interest rates and discusses the possible ...
Author(s): Vicente Galbis
Published Date: January , 1998
(OCC23) Inflation Targeting in Practice by Guy Debelle
This paper offers a practical guide for the adoption of inflation targeting as a monetary policy strategy. It discusses the practical issues that have risen in the operation of an inflation targeti...
Author(s): Guy Debelle
Published Date: January , 1998
(OCC24) Core Inflation: Concepts Uses and Measurement by Scott Roger
This paper has five sections. Section I covers the introduction while Section II reviews the concept of core inflation. Section III discusses the uses of core inflation in policy formulation policy...
Author(s): Scott Roger
Published Date: January , 1998
(OCC25) How Stable Is China An Economic Perspective by Pieter P. Bottelier
This paper assesses Chinas economic strengths and vulnerabilities in the current situation and the near-term. It also examines Chinas potential sources of instability.
Author(s): Pieter P. Bottelier
Published Date: January , 1998
(OCC26) Asians Debacle: Wherefore and Where to by Donald Hanna
This paper analyses the Asian financial crisis focusing on the financial boom of the 1990s and on the investor panic that sparked its collapse. It also assesses the policy responses by the governme...
Author(s): Donald P. Hanna
Published Date: January , 1998
(OCC27) Chasing Shadows: East Asian Financial Crisis and the IMF by Deena Khatkhate
This paper provides a critical assessment to the role and contribution of the IMF in the IMF-programme countries. It addresses several questions frequently raised about the East Asian financial cri...
Author(s): Deena Khatkhate
Published Date: January , 1998
(OCC20) Rapid growth in Asian Economies: A Review of Some Issues and Evidence by Anoop Singh
This paper reviews the growth experience of the fast growing countries of Asia with focus on SEACEN countries. It surveys empirical evidence on growth and examines its links in economic policies.
Author(s): Anoop Singh
Published Date: January , 1996
(OCC19) Payment Systems in Developing Countries: Lessons for a Small Economy by Andrew Sheng
This paper was presented at the SEACEN Course on Banking Laws and Regulations mounted at The SEACEN Centre on 7 - 25 November 1994. This paper surveys the major issues in planning and regulating pa...
Author(s): Andrew Sheng
Published Date: January , 1995
(OCC16) Intervention Techniques Under a Deregulated Financial Environment by Peter Nicholl
This luncheon address was delivered by the Honourable Peter W.E. Nicholl Deputy Governor of the Reserve Bank of New Zealand during the Annual SEACEN Meeting of Directors of Research and Training fo...
Author(s): Peter Nicholl
Published Date: January , 1994
(OCC17) Adopting Currency Convertibility: Experiences and Monetary Policy Considerations for Advanced Developing Countries by Peter J. Quirk
This paper was presented at the SEACEN Seminar on Foreign Exchange Liberalization Experiences in the SEACEN Countries held in Seoul and hosted by the Bank of Korea from May 30 - June 1 1994. It ana...
Author(s): Peter J. Quirk
Published Date: January , 1994
(OCC18) The Reserve Bank of Australias Foreign Exchange Market Operations by Stephen Grenville
This paper was presented at the SEACEN Seminar on Foreign Exchange Liberalization Expe- riences in the SEACEN Countries held in Seoul and hosted by The Bank of Korea from May 30 - June 1 1994. Aust...
Author(s): Stephen Grenville
Published Date: January , 1994
(OCC14) Supervision of Off-Balance Sheet Activities in the U.S. by William E. Albrecht
This paper was presented by Mr. Albrecht at the Seminar on Bank Regulation of Off-Balance Sheet Activities in the SEACEN Countries mounted by The SEACEN Centre in Kathmandu Nepal from 8 - 10 Februa...
Author(s): William E. Albrecht
Published Date: September , 1993
(OCC15) The Recent Surge in Capital Inflows to Three ASEAN Countries: Causes and Macroeconomic Impact by Kenneth B. Bercuson and Linda M. Koenig
This paper was presented at the SEACEN-IMF Seminar on Issues Related to the Recent Surge in Capital Inflows to the SEACEN Countries held in Seoul and hosted by the Bank of Korea from 14 - 16 May 19...
Author(s): Kenneth B. Bercuson and Linda M. Koening
Published Date: January , 1993
(OCC13) Recent Issues in Exchange Rate Policy in Developing Countries by Wanda S. Tseng
This paper reviews some of the main issues revolving around the recent debate about exchange rate policy centering on relationships among exchange rate flexibility competitiveness and financial dis...
Author(s): Dr. Wanda S. Tsen
Published Date: February , 1992
(OCC12) Market-Base Systems of Monetary Control in Developing Countries: Operating Procedures and Related Issues by Chorng-Huey Wong
This paper reviews issues in the development of a market-based system of monetary control in the context of financial reform in developing countries. It discusses the appropriate sequencing of fina...
Author(s): Chorng-Huey Wong
Published Date: September , 1991
(OCC11) How Secondary Capital Market Work in the United States by Eli M. Remolona and James Chow
This paper provides an introduction to U.S. secondary capital markets that may guide countries to enhance emerging markets of their own. The focus is specifically on four issues namely: trading in ...
Author(s): Eli M. Remolona and James Chow
Published Date: December , 1990
(OCC10) Monetary and Financial Reforms: Implications for Adjustment and Growth by Kunio Saito
This article focuses on four issues namely: monetary policy; financial liberalization; the experiences with financial liberalization; and the role of monetary policy and financial reforms in adjust...
Author(s): Kunio Saito
Published Date: April , 1990
(OCC09) The Debt Problem – Some Issues and Evidence by Anoop Singh
This paper reviews the historical perspective of the origins of the debt crisis as well as evaluates the current status of the debt strategy and the prospect for its future evolution.
Author(s): Anoop Singh
Published Date: April , 1989
(OCC08) Open Market Operations as a Policy Tool in the United States by Ann-Marie Meulendyke
This paper reviews the current monetary goals and tools in the United States advantages of the open market operations alternative monetary tools and approaches of central banks in developing their ...
Author(s): Ann-Marie Meulendyke
Published Date: October , 1988
(OCC07) Monetary Instruments and the Control of Liquidity in the Philippines: Focus on Open Market Operations by Armida S. San Jose
This paper discusses the framework for analysing how monetary instruments affect monetary targets and describes the various instruments available to the Central Bank of the Philippines.
Author(s): Armida S. San Jose
Published Date: September , 1988
(OCC06) Growth-Oriented Adjustment Strategies: The Role of Exchange Rate Policies and Trade Liberalization by Susan M. Schadler
This paper reviews some of the major strands of the debate on growth-oriented adjustment programmes. Section I looks at recent domestic and external trends in developing countries in order to highl...
Author(s): Susan M. Schadler
Published Date: April , 1988
(OCC04) The Impact of Exchange Rate Changes in Key Currencies on Trade by Richard P. Mattione
Exchange rate movements exert tremendous impact on the domestic and external economic activities of open economies. This paper deals specifically on how the international trade is affected by fluct...
Author(s): Richard P. Mattione
Published Date: December , 1987
(OCC05) The Impact of Exchange Rate Changes Between Key Currencies on the Debt Service Burden of Developing Countries by Helmut W. Mayer
This paper focuses mainly on the impact of exchange rate changes in key currencies on the external debt of developing countries. It presents a systematic way of analysing the impact of a strongly d...
Author(s): Helmut W. Mayer
Published Date: December , 1987
(OCC03) The Role of External Auditors in the Supervision of Financial Institutions in Malaysia by Bank Negara Malaysia
The paper covers some key issues on the role of external auditors in the supervision of financial institutions in Malaysia. It is concerned with getting the external auditors to break new ground so...
Author(s): Bank Negara Malaysia
Published Date: October , 1987
(OCC02) The Informal Financial Sector in Developing Countries: Analysis Evidence and Policy Implications by Anand G. Chandavarkar
A framework for the macroeconomic analysis of the informal financial sector in developing countries is developed in this paper in the light of the available empirical evidence. It also appraises it...
Author(s): Anand G. Chandavarkar
Published Date: August , 1987
(OCC01) The Dynamics of Money and Prices and the Role of Monetary Policy in the SEACEN Countries by Mohsin S. Khan
Some features of standard money demand models are discussed in this paper with a view to applying these specifically to the case of SEACEN countries. The focus of the exercise is essentially to der...
Author(s): Mohsin S. Khan
Published Date: December , 1980