The Role of Central Banks in Sustaining Economic Recovery and in Achieving Financial Stability

Reza Y. Siregar () and Vincent Choon-Seng Lim

Journal of Advanced Studies in Finance, 2010, vol. I, issue 1, pages 83-99

Abstract: 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 regard, the present sub-prime crisis which originated from the US highlights a few key issues for the SEACEN group of central banks. 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 need to actively look into.

Keywords: SEACEN; central banks; financial stability; prudential regulation; supervision (search for similar items in EconPapers)
JEL-codes: E52 E58 G28 (search for similar items in EconPapers)
Date: 2010
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Related works:
Book: The Role of Central Banks in Sustaining Economic Recovery and in Achieving Financial Stability (2010)
Working Paper: The Role of Central Banks in Sustaining Economic Recovery and in Achieving Financial Stability (2010)
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Persistent link: http://EconPapers.repec.org/RePEc:srs:jasf12:7:v:1:y:2010:i:1:p:83-99

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