Siregar, Reza Yamora and Lim, CS Vincent (2010): The Role of Central Banks in Sustaining Economic Recovery and in Achieving Financial Stability.
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Whenever a financial crisis occurs, threatening a possible financial meltdown, central banks have to be at the forefront in combating, neutralizing the crisis and restoring financial stability and economic growth. In this regards, the present sub-prime crisis which originated from the US highlights a few key issues for the Southeast Asian Central banks (SEACEN). This paper reviews the policy responses to the crisis which include exit policy strategies from stimulus monetary packages. To strengthen the soundness of the financial system, going forward, the paper also highlights counter-cyclical and macro-prudential regulations that central banks may want to actively look into. These include cross-border policy cooperation and coordination, particularly in the form of the college of supervisors.
|Item Type:||MPRA Paper|
|Original Title:||The Role of Central Banks in Sustaining Economic Recovery and in Achieving Financial Stability|
|Keywords:||- SEACEN; -Central Banks; - Financial Stability; - Prudential Regulation; -Supervision.|
|Subjects:||E - Macroeconomics and Monetary Economics > E5 - Monetary Policy, Central Banking, and the Supply of Money and Credit > E58 - Central Banks and Their Policies
E - Macroeconomics and Monetary Economics > E4 - Money and Interest Rates > E44 - Financial Markets and the Macroeconomy
E - Macroeconomics and Monetary Economics > E4 - Money and Interest Rates > E41 - Demand for Money
|Depositing User:||Reza Yamora Siregar|
|Date Deposited:||21. Feb 2010 18:31|
|Last Modified:||11. Feb 2013 19:02|
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