There is a vast body of literature estimating the impact of financial development on economic
growth, inequality, and economic stability. A typical empirical study approximates financial …

Although China’s much-needed transition to a new growth path is proceeding broadly as
expected, the transition is still fraught with uncertainty, including regarding the Chinese …

Systemic risk among the network of international banking groups arises when financial stress
threatens to criss-cross many national boundaries and expose imperfect international co-…

The Global Financial Crisis has reopened discussions on the role of the monetary policy in
preserving financial stability. Determining whether monetary policy affects financial variables …

The Asia-Pacific region was the first to be hit by the COVID-19 pandemic; it put a strain on its
people and economies, and policymaking became exceptionally difficult. This departmental …

Mauritius’s economic performance since its independence has been called “the Mauritian
miracle” and the “success of Africa” (Romer, 1992; Frankel, 2010; Stiglitz, 2011). However, the …

Can the upturns and downturns in financial variables serve as early warning indicators of
banking crises? Using data from 59 advanced and emerging economies, we show that …

Systemic risk among the network of international banking groups arises when financial
stress threatens to crisscross many national boundaries and expose imperfect international …

The global financial crisis experience shone a spotlight on the dangers of financial systems
that have grown too big too fast. This note reexamines financial deepening, focusing on what …

While South Asia has gone a long way in diversifying their economies, there is substantial
scope to do more. Some countries–India, Nepal, and Sri Lanka–can build on their existing …