{"id":"https://openalex.org/W1576092294","doi":null,"title":"Expanding Central Bank Balance Sheets in Emerging Asia: A Compendium of Risks and Some Evidence","display_name":"Expanding Central Bank Balance Sheets in Emerging Asia: A Compendium of Risks and Some Evidence","publication_year":2012,"publication_date":"2012-10-01","ids":{"openalex":"https://openalex.org/W1576092294","mag":"1576092294"},"language":"en","primary_location":{"id":"mag:1576092294","doi":null,"is_oa":true,"landing_page_url":"https://papers.ssrn.com/sol3/papers.cfm?abstract_id=2185323","pdf_url":null,"source":{"id":"https://openalex.org/S4210172589","display_name":"SSRN Electronic Journal","issn_l":"1556-5068","issn":["1556-5068"],"is_oa":true,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I1318003438","host_organization_name":"RELX Group (Netherlands)","host_organization_lineage":["https://openalex.org/I1318003438"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":"SSRN Electronic Journal","raw_type":null},"volume":null,"type":"preprint","indexed_in":[],"open_access":{"is_oa":true,"oa_status":"green","oa_url":"https://papers.ssrn.com/sol3/papers.cfm?abstract_id=2185323","any_repository_has_fulltext":true},"authorships":[{"author_position":"first","author":{"id":"https://openalex.org/A5007080839","display_name":"David Cook","orcid":"https://orcid.org/0000-0002-7936-5939","observed_orcids":["https://orcid.org/0000-0002-7936-5939"]},"institutions":[{"id":"https://openalex.org/I200769079","display_name":"Hong Kong University of Science and Technology","ror":"https://ror.org/00q4vv597","country_code":"HK","type":"education","lineage":["https://openalex.org/I200769079"]}],"countries":["HK"],"is_corresponding":false,"raw_author_name":"David Cook","raw_affiliation_strings":["Hong Kong University of Science & Technology (HKUST) - Department of Economics; Hong Kong University of Science & Technology (HKUST) - Department of Economics"],"raw_orcid":"https://orcid.org/0000-0002-7936-5939","affiliations":[{"raw_affiliation_string":"Hong Kong University of Science & Technology (HKUST) - Department of Economics; Hong Kong University of Science & Technology (HKUST) - Department of Economics","institution_ids":["https://openalex.org/I200769079"]}]},{"author_position":"last","author":{"id":"https://openalex.org/A5083514395","display_name":"James Yetman","orcid":null,"observed_orcids":[]},"institutions":[{"id":"https://openalex.org/I52989892","display_name":"Bank for International Settlements","ror":"https://ror.org/00d062t77","country_code":"CH","type":"other","lineage":["https://openalex.org/I52989892"]}],"countries":["CH"],"is_corresponding":false,"raw_author_name":"James Yetman","raw_affiliation_strings":["Bank for International Settlements (BIS)"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"Bank for International Settlements (BIS)","institution_ids":["https://openalex.org/I52989892"]}]}],"institutions":[],"countries_distinct_count":2,"institutions_distinct_count":2,"corresponding_author_ids":[],"corresponding_institution_ids":[],"apc_list":null,"apc_paid":null,"fwci":null,"has_fulltext":false,"cited_by_count":51,"citation_normalized_percentile":null,"cited_by_percentile_year":null,"biblio":{"volume":null,"issue":null,"first_page":null,"last_page":null},"is_retracted":false,"is_paratext":false,"is_xpac":false,"primary_topic":{"id":"https://openalex.org/T10007","display_name":"Monetary Policy and Economic Impact","score":0.8003000020980835,"subfield":{"id":"https://openalex.org/subfields/2000","display_name":"General Economics, Econometrics and Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},"topics":[{"id":"https://openalex.org/T10007","display_name":"Monetary Policy and Economic Impact","score":0.8003000020980835,"subfield":{"id":"https://openalex.org/subfields/2000","display_name":"General Economics, Econometrics and Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T10503","display_name":"Global Financial Crisis and Policies","score":0.1949000060558319,"subfield":{"id":"https://openalex.org/subfields/2003","display_name":"Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T10127","display_name":"Banking stability, regulation, efficiency","score":0.0031999999191612005,"subfield":{"id":"https://openalex.org/subfields/2003","display_name":"Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}}],"keywords":[{"id":"https://openalex.org/keywords/central-bank-balance-sheet","display_name":"central bank balance sheet","score":0.9909999966621399},{"id":"https://openalex.org/keywords/foreign-exchange-reserves","display_name":"foreign exchange reserves","score":0.9779999852180481},{"id":"https://openalex.org/keywords/sterilization","display_name":"sterilization","score":0.9459999799728394},{"id":"https://openalex.org/keywords/developing-asia","display_name":"developing Asia","score":0.6700000166893005},{"id":"https://openalex.org/keywords/resource-misallocation","display_name":"resource misallocation","score":0.9020000100135803},{"id":"https://openalex.org/keywords/investment","display_name":"investment","score":0.6740000247955322},{"id":"https://openalex.org/keywords/monetary-policy","display_name":"monetary policy","score":0.9010000228881836},{"id":"https://openalex.org/keywords/central-bank-independence","display_name":"central bank independence","score":0.7429999709129333},{"id":"https://openalex.org/keywords/currency-appreciation","display_name":"currency appreciation","score":0.7160000205039978},{"id":"https://openalex.org/keywords/sterilization-costs","display_name":"sterilization costs","score":0.7639999985694885},{"id":"https://openalex.org/keywords/broad-money","display_name":"broad money","score":0.6930000185966492},{"id":"https://openalex.org/keywords/inflation","display_name":"inflation","score":0.8659999966621399},{"id":"https://openalex.org/keywords/credit","display_name":"credit","score":0.9750000238418579}],"concepts":[{"id":"https://openalex.org/C121232785","wikidata":"https://www.wikidata.org/wiki/Q317617","display_name":"Foreign-exchange reserves","level":3,"score":0.7430634498596191},{"id":"https://openalex.org/C148761745","wikidata":"https://www.wikidata.org/wiki/Q1563203","display_name":"Sterilization (economics)","level":4,"score":0.7414230108261108},{"id":"https://openalex.org/C556758197","wikidata":"https://www.wikidata.org/wiki/Q580018","display_name":"Monetary economics","level":1,"score":0.6333404779434204},{"id":"https://openalex.org/C126285488","wikidata":"https://www.wikidata.org/wiki/Q178476","display_name":"Monetary policy","level":2,"score":0.6206381916999817},{"id":"https://openalex.org/C141121606","wikidata":"https://www.wikidata.org/wiki/Q8142","display_name":"Currency","level":2,"score":0.577722430229187},{"id":"https://openalex.org/C162324750","wikidata":"https://www.wikidata.org/wiki/Q8134","display_name":"Economics","level":0,"score":0.5142790675163269},{"id":"https://openalex.org/C57031852","wikidata":"https://www.wikidata.org/wiki/Q5419533","display_name":"Excess reserves","level":5,"score":0.49702051281929016},{"id":"https://openalex.org/C121087249","wikidata":"https://www.wikidata.org/wiki/Q546395","display_name":"Emerging markets","level":2,"score":0.49283647537231445},{"id":"https://openalex.org/C150149615","wikidata":"https://www.wikidata.org/wiki/Q1058762","display_name":"Reserve requirement","level":4,"score":0.4769231975078583},{"id":"https://openalex.org/C183206440","wikidata":"https://www.wikidata.org/wiki/Q46834","display_name":"Balance sheet","level":2,"score":0.46855172514915466},{"id":"https://openalex.org/C2992735868","wikidata":"https://www.wikidata.org/wiki/Q66344","display_name":"Central bank","level":3,"score":0.44924846291542053},{"id":"https://openalex.org/C73283319","wikidata":"https://www.wikidata.org/wiki/Q1416617","display_name":"Financial system","level":1,"score":0.44438794255256653},{"id":"https://openalex.org/C144133560","wikidata":"https://www.wikidata.org/wiki/Q4830453","display_name":"Business","level":0,"score":0.44166290760040283},{"id":"https://openalex.org/C18547055","wikidata":"https://www.wikidata.org/wiki/Q47417","display_name":"International economics","level":1,"score":0.43594279885292053},{"id":"https://openalex.org/C13309458","wikidata":"https://www.wikidata.org/wiki/Q593105","display_name":"Monetary base","level":3,"score":0.43385615944862366},{"id":"https://openalex.org/C175025494","wikidata":"https://www.wikidata.org/wiki/Q179179","display_name":"Interest rate","level":2,"score":0.4218590557575226},{"id":"https://openalex.org/C10138342","wikidata":"https://www.wikidata.org/wiki/Q43015","display_name":"Finance","level":1,"score":0.21982285380363464}],"mesh":[],"locations_count":1,"locations":[{"id":"mag:1576092294","doi":null,"is_oa":true,"landing_page_url":"https://papers.ssrn.com/sol3/papers.cfm?abstract_id=2185323","pdf_url":null,"source":{"id":"https://openalex.org/S4210172589","display_name":"SSRN Electronic Journal","issn_l":"1556-5068","issn":["1556-5068"],"is_oa":true,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I1318003438","host_organization_name":"RELX Group (Netherlands)","host_organization_lineage":["https://openalex.org/I1318003438"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":"SSRN Electronic Journal","raw_type":null}],"best_oa_location":{"id":"mag:1576092294","doi":null,"is_oa":true,"landing_page_url":"https://papers.ssrn.com/sol3/papers.cfm?abstract_id=2185323","pdf_url":null,"source":{"id":"https://openalex.org/S4210172589","display_name":"SSRN Electronic Journal","issn_l":"1556-5068","issn":["1556-5068"],"is_oa":true,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I1318003438","host_organization_name":"RELX Group (Netherlands)","host_organization_lineage":["https://openalex.org/I1318003438"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":"SSRN Electronic Journal","raw_type":null},"sustainable_development_goals":[],"sustainable_development_goals_aurora":[{"display_name":"Partnerships for the goals","score":0.4300000071525574,"id":"https://metadata.un.org/sdg/17"}],"study_designs":[],"awards":[],"funders":[],"has_content":{"grobid_xml":false,"pdf":false},"content_urls":null,"referenced_works_count":0,"referenced_works":[],"related_works":["https://openalex.org/W3121946419","https://openalex.org/W2131641404","https://openalex.org/W2156704244","https://openalex.org/W7101114114","https://openalex.org/W2114480719","https://openalex.org/W1567774627","https://openalex.org/W7097557169","https://openalex.org/W7098245787","https://openalex.org/W2774745461","https://openalex.org/W3121323078"],"abstract_inverted_index":{"Foreign":[0],"exchange":[1],"reserves":[2,16,71,98,117],"have":[3,17,74,84],"grown":[4],"dramatically":[5],"in":[6,113,165],"emerging":[7,46],"Asia":[8,166],"over":[9],"the":[10,21,30,40,95],"past":[11],"decade.":[12],"Many":[13],"of":[14,23,42,81,97,123],"these":[15],"been":[18],"sterilized,":[19],"via":[20],"issuance":[22],"non-monetary":[24],"liabilities":[25],"by":[26,35],"central":[27,100,143],"banks,":[28],"with":[29,116],"sterilization":[31,108,130],"instruments":[32],"held":[33],"largely":[34],"domestic":[36],"banks.":[37],"We":[38,49,66,105],"investigate":[39],"effects":[41],"this":[43],"process":[44],"on":[45,99],"Asian":[47],"economies.":[48],"find":[50,68,106],"evidence":[51],"that":[52,69,107],"long":[53],"run":[54],"economic":[55],"performance":[56],"may":[57,147],"suffer,":[58],"due":[59,134],"to":[60,73,76,110,120,135,142],"resource":[61],"mis-allocation":[62],"and":[63,102,127,132,146],"reduced":[64],"investment.":[65],"also":[67],"while":[70],"appear":[72],"helped":[75],"protect":[77],"banks":[78,101],"during":[79,88],"periods":[80],"crisis,":[82],"they":[83],"had":[85],"little":[86],"effect":[87,96],"more":[89],"normal":[90],"times.":[91],"Finally,":[92],"we":[93],"examine":[94],"monetary":[103],"policy.":[104],"appears":[109],"be":[111],"incomplete":[112],"some":[114],"cases,":[115],"accumulation":[118],"leading":[119],"higher":[121],"levels":[122],"broad":[124],"money,":[125],"inflation":[126],"credit.":[128],"Further,":[129],"costs,":[131],"losses":[133],"currency":[136,157],"appreciation,":[137],"are":[138],"a":[139],"potential":[140],"threat":[141],"bank":[144],"independence":[145],"bias":[148],"policy":[149],"away":[150],"from":[151],"raising":[152],"interest":[153],"rates":[154],"or":[155],"allowing":[156],"appreciation.Full":[158],"publication:":[159],"Are":[160],"Central":[161],"Bank":[162],"Balance":[163],"Sheets":[164],"Too":[167],"Large?":[168]},"counts_by_year":[{"year":2025,"cited_by_count":1},{"year":2022,"cited_by_count":3},{"year":2021,"cited_by_count":6},{"year":2020,"cited_by_count":7},{"year":2019,"cited_by_count":6},{"year":2018,"cited_by_count":2},{"year":2017,"cited_by_count":3},{"year":2016,"cited_by_count":10},{"year":2015,"cited_by_count":2},{"year":2014,"cited_by_count":3},{"year":2013,"cited_by_count":1},{"year":2012,"cited_by_count":4}],"updated_date":"2026-10-12T09:40:04.860316","created_date":"2016-06-24T00:00:00"}