With the exception of China, aggregate saving has been stable over more than 10 years. Among key factors responsible for the slump include investor’s perceptions that the  BIS Review 46/2007  1  investment environment is riskier. I would appreciate it if fellow Governors would share their experience on this issue.
Finally, many emerging countries in Asia were forced to abandon their traditional dollar-peg system and to allow their exchange rates to float in the summer of 1997 amidst intense currency attacks by speculators.