Adopting a profit-based approach to the estimation of the efficiency of South Korean banks
over the 2007Q3 to 2011Q2 period, we systematically analyse, within a non-parametric DEA …

This paper provides an overview of the developments in the Korean foreign exchange
market and the Bank of Korea's foreign exchange interventions since the introduction of the …

Stanley Fischer is a rarity among economic policymakers. He came to the policy world as an
internationally recognized intellectual leader on macroeconomic theory and policy. He …

I exploit a natural experiment in South Korea to examine the real effects of macroprudential
foreign exchange (FX) regulations designed to reduce risk-taking by financial …

This paper tests if the adequacy of reserves helps reduce exchange rate volatility in an
environment of financial globalization, market‐determined exchange rate and …

Frontier economies have grown rapidly since the turn of the century. While GDP growth rates
have varied considerably among the countries in this group, their average growth and …

This paper assesses the role of bank and nonbank financial institutions' balance sheet
foreign exposures and risk management practices in driving capital flow responses to global …

I show that shocks to financial intermediaries that supply hedging instruments to
corporations have real effects. I exploit a quasi-natural experiment in South Korea in 2010 …

I show that shocks to financial intermediaries supplying hedging instruments to corporations
have real effects. I exploit a quasi-natural experiment in South Korea in 2010, where …

This paper reviews capital flow management (CFM) policy in Indonesia and examines its
effectiveness from 2000 to 2019. The methodology involves constructing a new capital flow …