Macroeconomic Shocks and Unconventional Monetary Policy: Impacts on Emerging Markets

Asian Development Bank  
Policy Initiative: Sustainable Finance
2. August 2019

Shocks stemming from the global financial crisis have had wide-reaching effects on macroeconomic financial stability in emerging Asia. Barely two decades after the Asian financial crisis, Asia was suddenly confronted with multiple challenges originating from outside the region: the 2008 global financial crisis, the European debt crisis, and finally developed economies’ implementation of unconventional monetary policies. The implementation of quantitative easing, ultra-low interest rate policies, and negative interest rate policies by a number of large central banks has given rise to concerns over financial stability and international capital flows. Macroeconomic Shocks and Unconventional Monetary Policy: Impacts on Emerging Markets explains how shocks stemming from the global financial crisis have affected macroeconomic financial stability in emerging Asia.

Asian Development Bank | Macroeconomic Shocks and Unconventional Monetary Policy: Impacts on Emerging Markets

EPF | Economic Policy Forum

EPF | Economic Policy Forum