The International Financial Crisis and Policy Challenges in Asia and the Pacific

402 Pages Posted: 24 Jul 2010  

Jaime Caruana

Bank for International Settlements (BIS)

Andrew J. Filardo

Bank for International Settlements (BIS) - Monetary and Economic Department

Jason George

Bank for International Settlements (BIS)

Anella Munro

Reserve Bank of New Zealand

Mico Loretan

Swiss National Bank

Guonan Ma

Bruegel

Ilhyock Shim

Bank for International Settlements (BIS)

Philip D. Wooldridge

Bank for International Settlements (BIS)

James Yetman

Bank for International Settlements (BIS)

Haibin Zhu

Bank for International Settlements (BIS)

Jacob Gyntelberg

Copenhagen Business School

Eric Ho Pan Chan

Bank for International Settlements (BIS)

Hans Genberg

University of Geneva - Graduate Institute of International Studies (HEI)

Eli M. Remolona

Bank for International Settlements (BIS) - Monetary and Economic Department

Suresh M. Sundaresan

Columbia Business School - Finance and Economics

Susan Black

Herbert Smith

Joseph Yam

affiliation not provided to SSRN

Charles M. Engel

University of Wisconsin - Madison - Department of Economics; National Bureau of Economic Research (NBER); University of Washington - Department of Economics

Michael B. Devereux

University of British Columbia (UBC) - Department of Economics; Centre for Economic Policy Research (CEPR)

Charles Goodhart

London School of Economics & Political Science (LSE) - Financial Markets Group

Don H. Kim

Federal Reserve Board - Division of Monetary Affairs

Eloisa T. Glindro

Bank for International Settlements (BIS)

Jessica Szeto

affiliation not provided to SSRN

Masaaki Shirakawa

Bank of Japan - Institute of Monetary and Economic Studies

Tarisa Watanagase

Bank of Thailand

Zeti Akhtar Aziz

Central Bank of Malaysia

Amando Tetangco, Jr

Government of the Republic of the Philippines - Central Bank of the Philippines-Bangko Sentral ng Pilipinas

Date Written: July 2010

Abstract

This volume is a collection of the speeches, presentations and papers from a conference on "The International Financial Crisis and Policy Challenges in Asia and the Pacific". The event was co-hosted by the People's Bank of China (PBC) and the Bank for International Settlements (BIS) to mark the formal completion of the BIS Asian Research Programme. It was held on 6-8 August 2009 in Shanghai, China, at the same location where the establishment of the Programme was first announced in 2006. Senior officials from all 12 Asian Consultative Council (ACC) central banks, as well as academic scholars and economists from the BIS Representative Office for Asia and the Pacific attended the conference. The formal addresses included speeches by Jaime Caruana, General Manager of the BIS, Zeti Akhtar Aziz, Chair of the ACC and Governor of the Central Bank of Malaysia, and Zhou Xiaochuan, Governor of the PBC. The conference provided an opportunity to re-examine the existing approaches to preserving monetary and financial stability in Asia and the Pacific, in the light of the lessons of the international financial crisis. Even though the impact of the crisis was more muted in this region than elsewhere, there are many lessons to be learned.

JEL Classification: E5, F3, G01, G2

Suggested Citation

Caruana, Jaime and Filardo, Andrew J. and George, Jason and Munro, Anella and Loretan, Mico and Ma, Guonan and Shim, Ilhyock and Wooldridge, Philip D. and Yetman, James and Zhu, Haibin and Gyntelberg, Jacob and Chan, Eric Ho Pan and Genberg, Hans and Remolona, Eli M. and Sundaresan, Suresh M. and Black, Susan and Yam, Joseph and Engel, Charles M. and Devereux, Michael B. and Goodhart, Charles and Kim, Don H. and Glindro, Eloisa T. and Szeto, Jessica and Shirakawa, Masaaki and Watanagase, Tarisa and Akhtar Aziz, Zeti and Tetangco, Jr, Amando, The International Financial Crisis and Policy Challenges in Asia and the Pacific (July 2010). BIS Paper No. 52. Available at SSRN: https://ssrn.com/abstract=1646829

Jaime Caruana (Contact Author)

Bank for International Settlements (BIS) ( email )

Centralbahnplatz 2
Basel, Basel-Stadt 4002
Switzerland

Andrew J. Filardo

Bank for International Settlements (BIS) - Monetary and Economic Department ( email )

Centralbahnplatz 2
CH-4002 Basel
Switzerland

Jason George

Bank for International Settlements (BIS) ( email )

Centralbahnplatz 2
Basel, Basel-Stadt 4002
Switzerland

Anella Elizabeth Munro

Reserve Bank of New Zealand ( email )

2 The Terrace
P.O. Box 2498
Wellington, 6011
New Zealand

Mico Loretan

Swiss National Bank ( email )

Fraumuensterstr. 8
Zuerich, 8022
Switzerland

Guonan Ma

Bruegel ( email )

Rue de la Charité 33
B-1210 Brussels Belgium
Belgium

Ilhyock Shim

Bank for International Settlements (BIS) ( email )

78F, Two International Finance Centre
8 Finance Street, Central
Hong Kong, n/a n/a
Hong Kong

HOME PAGE: http://www.bis.org/author/ilhyock_shim.htm

Philip D. Wooldridge

Bank for International Settlements (BIS) ( email )

CH-4002 Basel, Basel-Stadt
Switzerland

James Yetman

Bank for International Settlements (BIS) ( email )

Centralbahnplatz 2
Basel, Basel-Stadt 4002
Switzerland

Haibin Zhu

Bank for International Settlements (BIS) ( email )

Hong Kong
Hong Kong
852 2878 7145 (Phone)
852 2878 7123 (Fax)

Jacob Gyntelberg

Copenhagen Business School ( email )

Solbjerg Plads 3
Frederiksberg C, DK - 2000
Denmark

Eric Ho Pan Chan

Bank for International Settlements (BIS) ( email )

Centralbahnplatz 2
Basel, Basel-Stadt 4002
Switzerland

Hans Genberg

University of Geneva - Graduate Institute of International Studies (HEI) ( email )

PO Box 136
Geneva, CH-1211
Switzerland
+41 22 908 5928 (Phone)

Eli M. Remolona

Bank for International Settlements (BIS) - Monetary and Economic Department ( email )

IFC 2 Bldg, 78/F
Central
Hong Kong
Hong Kong
+852 2982 7150 (Phone)
+852 2982 7123 (Fax)

Suresh M. Sundaresan

Columbia Business School - Finance and Economics ( email )

3022 Broadway
New York, NY 10027
United States
212-854-4423 (Phone)
212-316-9180 (Fax)

HOME PAGE: http://www0.gsb.columbia.edu/faculty/ssundaresan/

Susan Black

Herbert Smith ( email )

66 avenue Marceau
London EC2A 2HS, 75008
United Kingdom

Joseph Yam

affiliation not provided to SSRN ( email )

Charles M. Engel

National Bureau of Economic Research (NBER)

1050 Massachusetts Avenue
Cambridge, MA 02138
United States

University of Washington - Department of Economics ( email )

Box 353330
Seattle, WA 98195-3330
United States
206-543-6197 (Phone)
206-685-7477 (Fax)

University of Wisconsin - Madison - Department of Economics ( email )

1180 Observatory Drive
Madison, WI 53706
United States
608-262-3697 (Phone)
608-262-2033 (Fax)

Michael B. Devereux

University of British Columbia (UBC) - Department of Economics ( email )

997-1873 East Mall
Vancouver, BC V6T 1Z1
Canada
604-822-2542 (Phone)
604-946-6271 (Fax)

Centre for Economic Policy Research (CEPR)

77 Bastwick Street
London, EC1V 3PZ
United Kingdom

Charles A.E. Goodhart

London School of Economics & Political Science (LSE) - Financial Markets Group ( email )

Houghton Street
London WC2A 2AE
United Kingdom
0207 955 7555 (Phone)
0207 242 1006 (Fax)

Don H. Kim

Federal Reserve Board - Division of Monetary Affairs ( email )

20th and C Streets, NW
Washington, DC 20551
United States

Eloisa T. Glindro

Bank for International Settlements (BIS) ( email )

Centralbahnplatz 2
Basel, Basel-Stadt 4002
Switzerland

Jessica Szeto

affiliation not provided to SSRN

Masaaki Shirakawa

Bank of Japan - Institute of Monetary and Economic Studies ( email )

2-1-1, Hongoku-cho
Nihonbashi
Chuo-ku, Tokyo, 103
Japan

Tarisa Watanagase

Bank of Thailand ( email )

273 Samsen Road
Bangkhunprom, Bangkok 10200
United States

Zeti Akhtar Aziz

Central Bank of Malaysia ( email )

Jalan Dato' Onn
P.O. Box 10922
Kuala Lumpur, 50929
Malaysia

Amando Tetangco, Jr

Government of the Republic of the Philippines - Central Bank of the Philippines-Bangko Sentral ng Pilipinas ( email )

Philippines 1004
United States

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