Contents

In Brief

-Research Review by IMI Advisory Board

-Research Review by IMI Academic Committee

Research Report

-The Effect of Changes in the U.S. Monetary Policy on China’s Capital Market Stability and Trade between China and Korea by IMI&KIEP

Working Paper

-The Effects of Monetary Policy on Input Inventories by Dai Tiantian and Liu Xiangbo

-Regulatory Arbitrage and Window-dressing in the Shadow Banking Activities: Evidence from China’s Wealth Management Products by Cai Jinghan, Alicia Garcia-Herrero and Xia Le

Special Column

-China Pakistan Economic Corridor (CEPC) by Yaseen Anwar

-A Closer Asia-Africa Partnership is an Opportunity for All by Ben Shenglin

-A Tale of Two Markets for the Redback by Xia Le and Dong Jinyue

-Revive the IMF SDR Substitution Fund by Ousmène Mandeng

IMI News