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The expansion of central bank balance sheets in emerging Asia: what are the risks?

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Author Info

  • Andrew Filardo
  • James Yetman

Abstract

Central bank balance sheets in emerging Asia expanded rapidly over the past decade because of the unprecedented rise in foreign reserve assets. The corresponding expansion of the central banks' liabilities has created dangers - risks of inflation and financial instability and financial market distortions - that require attention.

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Bibliographic Info

Article provided by Bank for International Settlements in its journal BIS Quarterly Review.

Volume (Year): (2012)
Issue (Month): (June)
Pages:

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Handle: RePEc:bis:bisqtr:1206g

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References

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  1. Aaron Mehrotra, 2012. "On the use of sterilisation bonds in emerging Asia," BIS Papers chapters, in: Bank for International Settlements (ed.), Are central bank balance sheets in Asia too large?, volume 66, pages 111-131 Bank for International Settlements.
  2. Jagjit S. Chadha & Luisa Corrado & Jack Meaning, 2012. "Reserves, Liquidity and Money: An Assessment of Balance sheet Policies," Studies in Economics 1208, Department of Economics, University of Kent.
  3. Robert N McCauley, 2008. "Developing financial markets and operating monetary policy in Asia," BIS Papers chapters, in: Bank for International Settlements (ed.), Financial market developments and their implications for monetary policy, volume 39, pages 126-141 Bank for International Settlements.
  4. M S Mohanty & Philip Turner, 2006. "Foreign exchange reserve accumulation in emerging markets: what are the domestic implications?," BIS Quarterly Review, Bank for International Settlements, September.
  5. Claudio Borio & Robert McCauley & Patrick McGuire, 2011. "Global credit and domestic credit booms," BIS Quarterly Review, Bank for International Settlements, September.
  6. A Durré & H Pill, 2012. "Central Bank balance sheets as policy tools," BIS Papers chapters, in: Bank for International Settlements (ed.), Are central bank balance sheets in Asia too large?, volume 66, pages 193-213 Bank for International Settlements.
  7. David Cook & James Yetman, 2012. "Expanding central bank balance sheets in emerging Asia: a compendium of risk and some evidence," BIS Papers chapters, in: Bank for International Settlements (ed.), Are central bank balance sheets in Asia too large?, volume 66, pages 30-75 Bank for International Settlements.
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Cited by:
  1. Robert N. McCauley, 2013. "Risk-On/Risk-Off, Capital Flows, Leverage, and Safe Assets," Macroeconomics Working Papers 23390, East Asian Bureau of Economic Research.
  2. Philip Turner, 2013. "Benign neglect of the long-term interest rate," BIS Working Papers 403, Bank for International Settlements.

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