International Macro and Finance
The recent episodes of severe financial turbulence in global markets emphasise the need to devote concerted research efforts towards issues pertaining to open economy macroeconomics and international finance. Topics of particular importance include: the causes and consequences of currency and financial crises; the effects of large capital inflows in an environment in which banking institutions are fragile; appropriate exchange rate regimes for small and open emerging economies; steps towards strengthening regional and international financial architectures; domestic measures to enhance the resilience of emerging economies to external shocks; and approaches to, and country experiences with, corporate and financial restructuring. Other areas related to investment and globalisation are also highly relevant.
The CIES Research Program in International Macroeconomics and Finance has been established to foster the development of research in these areas.
(see Program Publications).