Central banks’ mandates cannot merely be to achieve price stability; they should be enlarged to include promoting financial system stability. To achieve this dual mandate, central banks are advised to formulate and implement a policy mix of interest rate policy, combined with exchange rate policy, capital flow management as well as macro prudential policy. This policy mix should be furthe…
This book has been many, many years in the making. Eiji Hotori and Mikael Wendschlag presented a crude first draft, including the conceptualization of the formalization process, at the 17th World Economic History Congress in Kyoto, Japan in August 2015 (WEHC 2015). At a session organized by Hotori entitled “Banking supervision in comparative perspective: Europe, America and East Asia,”…
Dalam reasuransi kerugian berlebih, reasuransi menanggung jumlah kerugian yang melebihi deductible polis tetapi tidak melebihi batas pertanggungannya. Dengan demikian, cakupan pertanggungan kuantitatif polis sangat dipengaruhi oleh kesepakatan para pihak mengenai deductible dan batas pertanggungan. Namun, pemeriksaan apakah kerugian telah melampaui deductible atau batas pertanggungan memerlukan…
Development assistance to fragile states and conflict-affected areas can be a core component of peacebuilding, providing support for the restoration of government functions, delivery of basic services, the rule of law, and economic revitalization. What has worked, why it has worked, and what is scalable and transferable are key questions for both development practice and research into how peace…
A chain is only as strong as its weakest link. When the links in the chain represent development projects, if individual projects fail to achieve their purpose, the development program's effectiveness is compromised. When the chain's links are strong and well-connected, the results are improved for the sector, country, and region. The role of multilateral banks is crucial; they inform the impac…
This book is the first study to provide a comprehensive picture of the reality and structure of dollarization in Cambodia, which has been achieving rapid economic and financial development since the end of 1998, when full piece reigned over the kingdom. It uses the micro-level data collected through nationwide surveys conducted jointly by the National Bank of Cambodia and JICA Ogata Sadako Rese…
About 2.5 billion adults, just over half the world's adult population, lack bank accounts. If we are to realize the goal of extending banking and other financial services to this vast "unbanked" population, we need to consider not only such product innovations as microfinance and mobile banking but also issues of data accuracy, impact assessment, risk mitigation, technology adaptation, financia…
Experts analyze the recent emphasis on central communication as an additional policy and accountability device.In recent years central bankers have placed new emphasis on communication with financial markets and the general public. They have done this not only through the traditional channel of monetary policy pronouncements but also by increasing the quantity of information they make public. Y…
An examination of the debates on European Central Bank monetary policy, focusing on issues of transparency, credibility, and accountability and the effect of the ECB's decentralized structure.The adoption of the euro in 1999 by 11 member states of the European Union created a single currency area second in economic size only to the United States. The euro zone's monetary policy is now set by th…
Annotation Japan's financial institutions and policy underwent remarkable change in the past decade. The country began the 1990s with a heavily regulated financial system managed by an unchallenged Ministry of Finance and ended the decade with a Big Bang financial market reform, a complete restructuring of its regulatory financial institutions, and an independent central bank. These reforms hav…