BIS Review 138/2007  1  as a few countries in Africa. 2 India, alongside Brazil, China and Russia, is among the largest of the emerging markets, which are expected to become the giants of the twenty-first century. But I would also like to offer some reflections on the implications of these changes.
The IBRN has analyzed the effects of monetary policy, of liquidity risks, of macro-prudential and micro-prudential policies, of structural choices in the organization of banks, and of disruptions to international trade and investment regimes. Prior to the global financial crisis, important information on the behavior of globally active banks and on policy effects are available from micro-level banking datasets collected by banking supervisors.