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HomeNews and Events2010 - Volume 4 Number 1Recent Working Papers

Recent Working Papers

* The ADBI Working Paper series is a continuation of the formerly named Discussion Paperseries; the numbering of the papers has continued without interruption or change.

Regulating Systemic Risk
Author: Masahiro Kawai, Michael Pomerleano

The failure to spot emerging systemic risk and prevent the current global financial crisis warrants a reexamination of approaches taken so far for crisis prevention. The paper argues that financial crises can be prevented because of their long build up over time caused by policy mistakes, and their eventual “slow motion” eruption.

Read Working Paper 189.

The Costs of Achieving the Millennium Development Goals through Adopting Organic Agriculture
Author: Anil Markandya, Sununtar Setboonsarng, Qiao Yu Hui, Rachanee Songkranok and Adam Stefan

Using four case studies (Wanzai, PRC; Wuyuan, PRC; Kandy, Sri Lanka; Ubon Ratchathani, Thailand), this paper provides estimates of the costs of organic agriculture programs, and sets them in the context of the costs of attaining the UNs' MDGs.

Read Working Paper 193.

Accelerating Regional Integration: Issues at the Border
Author: Douglas H. Brooks, Susan F. Stone

The recent crisis offers an excellent opportunity to make progress on facilitating intra-Asian trade and boosting the region's contribution to global economic recovery. This paper examines the status of, and challenges to, trade facilitation among the Asian APEC members, and the roles of hard and soft infrastructure in improving that performance.

Read Working Paper 200.

Investigating the Effect of Exchange Rate Changes on the People's Republic of China's Processed Exports
Author: Willem Thorbecke

Many argue that the yuan needs to appreciate to rebalance the PRC's trade. However, empirical evidence on the effects of a yuan appreciation on the PRC's exports has been mixed for the largest category of exports, processed exports. This paper finds that exchange rate appreciations across supply chain countries would cause a much larger drop in processed exports than a unilateral appreciation of the yuan.

Read Working Paper 202.

The Euro After Its First Decade: Weathering the Financial Storm and Enlarging the Euro Area
Author: Klaus Regling, Servaas Deroose, Reinhard Felke, Paul Kutos

The first decade of the EMU has been a huge success, has significantly benefited its member countries, and has accelerated the European integration process. Imbalances within the EMU have, however, increased in the last 10 years and have become even more evident in the global economic crisis. Policies among EMU members should be better coordinated, structural reforms accelerated, framework for financial market supervision strengthened, and external representation streamlined.

Read Working Paper 205.

The Eurozone in the Current Crisis
Authors: Charles Wyplosz

This paper contrasts the US and European situations during the recent crisis and examines how much of the crisis has been imported by Europe from the US. The paper argues that Europe never had a chance to avoid contagion from the US and also documents the relatively limited reaction of both monetary and fiscal authorities. The concluding remarks consider the differences that the monetary union has made and their relevance.

Read Working Paper 207.

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