International Monetary Review, January 2023, Vol.10 No.1

Contents

Special Column on Progress in Reform of Cross-Border Payments

Progress in Cross Border Payments So Far and Scenarios Ahead by Herbert Poenisch

Global Economy

Exchange Rates and Inflationary Pressures by Christopher Kent

Managing a Turn in the Global Financial Cycle by Gita Gopinath

Financial Cooperation Crucial to Asia's Prosperity by Yu Yongding

Reversal of Globalization is Leading to Long-term Stagflation by Zhang Ming

Global Debt

Frontier Economies Require New Approach to Sustainable Debt by Polina Kurdyavko

Riding the Global Debt Rollercoaster by Vitor Gaspar, Paulo Medas, Roberto Perrelli

China

QE with Chinese Characteristics by Andrew Sheng and Xiao Geng

End of Tunnel Bumpy but Bright by Guan Tao

Consumption, not Investment, Now Key to Growth by Teng Tai

China to Accelerate Recovery in 2023 by Yao Yang

Easing Restrictions Builds on Past Success by Zhou Xiaoming

Monetary and Fiscal Policy

The Price to Pay: How to Rein in Inflation? Central Bank and Government Perspectives by Alfred Kammer

Is Monetary Policy Still Regulatory Policy Today by Joachim Nagel

How Fiscal Restraint Can Help Fight Inflation by Tobias Adrian and Vitor Gaspar

Financial Regulation

Proportionality and Financial Inclusion: Implications for Regulation and Supervision by Fernando Restroy

Why Bank Capital Matters by Michael Barr

Financial Innovation

Anchors and Catalysts - Central Banks' Dual Role in Innovation by François Villeroy de Galhau

International Cooperation in a World of Digitalisation by Pablo Hernandez de Cos

Green Finance

Bridging Data Gaps Can Help Tackle the Climate Crisis by Bo Li and Bert Kroese

Greening Economy while Achieving Inclusive Growth by Peng Wensheng

Working Paper

State Common Ownership and Banks' Governance Role: Evidence from CEO Turnovers in China by Qing He and Dongxu Li