Contents：
In Brief
- Research Review by IMI Advisory Board Members
- Research Review by IMI Academic Committee Members
Research Report
- Currency Internationalization and Offshore Market: Historical Implications by International Monetary Institute
Featured: IMI International Exchange
- Minutes of IMI Lectures (No. 4): South Korea's Experience of the Capital Market Development
- Minutes of Macro-Finance Salon (No. 12): Systemic Risk and Macro-Prudential Regulation
- Minutes of Macro-Finance Salon (No. 13): Trends and Challenges in Reserve Management
- Minutes of Macro-Finance Salon (No. 14): Money, Internationalization and Yield Curve - Relevance to RMB
Working Paper
- Risk Perception and Equity Returns: Evidence from the SPX and VIX by Gang Jianhua and Li Xiang
- National Characteristics, Government-Market Relationship and Development of Financial System by Ma Yong and Chen Yulu