Useful Central bank Annual reports to read

There is plenty of research work to read since last week. IMF’s WEO and GFSRare out and are being recommended by all top econs to read (quite pessimistic reports).

A few Central banks have released their annual reports which provide a good read as well on the impact of crisis on their economies.

  1. ECB (Lucas Papademos, VP of ECB provides a summary) . The chapter on non-ECB EU members is quite interesting. They have faced quite severe pressures in this crisis.  So is the chapter on Slovakia’s inclusion in ECB. It is going to turn into a useful event study for researchers going ahead. How did Slovakia become a member of ECB, what were the challenges, the integration process etc.
  2. Swiss National Bank : Apart from Swiss econ devleopments, it has a nice discussion on the UBS deal (though I could not understand much of it)
  3. HongKong Monetary Authority

Actually, the central banks reports especially the ones with so called modern financial systems/international finance centres should be aggregated to get some policy learnings. Singapore and Bank of England are yet to come out with their reports. Though we all know how UK feels about the modern financial system via its Turner review. Even Iceland story is well-known by now. The aggregated literature would in turn provide future policy lessons for wannabe modern financial systems/international finance centres.

It needed a crisis as big as this one to convince acads that we need to rethink about modern finance. I hope lessons are not lost quickly.

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