Assessing Key Vulnerabilities Post Global Financial Crisis

Vincent Lim and Dongkoo Chang

in Staff Papers from South East Asian Central Banks (SEACEN) Research and Training Centre

Abstract: This paper highlights some of the vulnerabilities seen as overarching in the SEACEN economies. As the global economy recovers, the following scenarios are probable. Firstly, a possible upward shift of interest rates in developed economies could destabilize the emerging financial markets. Secondly, a potential rapid fall in capital inflows to SEACEN economies as the tapering takes full effect could pose growth risks. Thirdly, the shadow banking system could become a source of systemic risks and create opportunities for arbitrages. The paper also highlights the need for central banks to expand their toolkit to complement monetary policies, in particular macroprudential measures.

Date: 2013
ISBN: -
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