2009 Research Policy Briefs

Unregulated Entities, Products, and Markets: Challenges for Monitoring and Regulation
Author: Peter Morgan

This policy brief examines hedge funds, private equity funds, and innovative financial products, particularly collateralized debt obligations and asset-backed securities, including their overall structure, their role in the development of the current global financial crisis, and what changes are needed in the global financial architecture related to these institutions and products to strengthen financial stability going forward.

Read Research Policy Brief 30.

The Global Economic Crisis and Rebalancing Growth in East Asia
Author: Yung Chul Park

Asia has staged an impressive turnaround in 2009, but it is unclear whether the recovery can be self sustaining even if the US and Europe fail to pull themselves out of the current recession. This policy brief discusses the impact of the global financial crisis on emerging Asia and seeks to articulate the rationale behind the policy changes and reform necessary to return East Asia to the path of pre-crisis growth.

Read Research Policy Brief 31.

The Global Financial Crisis and Macroeconomic Policy Issues in Asia
Author: Shinji Takagi

Responding to the severe negative impact of the recent global financial crisis, many Asian economies resorted to substantial easing of macroeconomic policies. This policy brief reviews the principal policy measures implemented, examines the issues that have emerged from this extraordinary experience, and concludes with a forward-looking discussion of medium- to longerterm measures to improve the effectiveness of macroeconomic policies and to make the world and the region a safer place.

Read Research Policy Brief 32.