Guonan Ma

Guonan Ma

Senior Economist
Monetary and Economic Department, BIS Representative Office for Asia and the Pacific

Dr Guonan MA is a senior economist at the Representative Office for Asia and the Pacific of the Bank for International Settlements (BIS). Before joining the BIS in 2001, he worked as a chief North Asia economist for ten years at various investment banks, including Merrill Lynch, Salomon Smith Barney and Bankers Trust. Prior to his investment bank career, he was a lecturer of economics and research fellow at the Australian National University for four years following the completion of his Ph.D. in economics at the University of Pittsburgh (1990). Dr Ma was born in China where he obtained his undergraduate degree at Beijing University (1982). Guonan Ma has many publications on the Asian and Chinese economies and financial markets over the years.


Fields of interest

  • International economics
  • Developing Asia
  • Financial markets

Selected Publications

  • "The evolving renminbi regime and implications for Asian currency stability", G Ma and R McCauley, Journal of The Japanese and International Economies, No 25, pp 23-38, March 2011.
  • "Renminbising China's Foreign Assets", YW Cheung, G Ma and R McCauley, Pacific Economic Review, Vol 16, No 1, pp 1-17, January 2011.
  • "China's high saving rate: myth and reality", G Ma and Y Wang Yi, International Economics, No. 122, pp 5-40, December 2010.
  • "The efficacy of China's capital controls - Evidence from price and flow data", G Ma and R McCauley, Pacific Economic Review, Vol 13, No 1, pp 104-123, January 2008.
  • "Who pays China's bank restructuring bill?", G Ma, Asian Economic Papers, 6 (1), pp 46-71, Winter, MIT Press, Cambridge, February 2007.

BIS Research papers

Date Research papers
Sep 2014

Developing an underlying inflation gauge for China

Working Papers No 465

Other authors: Marlene Amstad and Ye Huan

Aug 2014

Internationalisation of emerging market currencies

BIS Papers No 78

Other authors: Agustín Villar

Mar 2014

Inflation and China's monetary policy reaction function: 2002-2013

BIS Papers No 77

Other authors: Eric Girardin and Sandrine Lunven

Mar 2014

Non-deliverable forwards: 2013 and beyond

BIS Quarterly Review March 2014

Other authors: Robert N McCauley and Chang Shu

Sep 2013

Global and euro imbalances: China and Germany

Working Papers No 424

Other authors: Robert N McCauley

Apr 2013

Is China or India more financially open?

Working Papers No 410

Other authors: Robert N McCauley

Nov 2011

China's evolving reserve requirements

Working Papers No 360

Other authors: Yan Xiandong and Liu Xi

Oct 2011

Exchange rates and monetary policy frameworks in EMEs

BIS Papers No 57

Other authors: Andrew Filardo and Dubravko Mihaljek

Sep 2010

The evolving renminbi regime and implications for Asian currency stability

Working Papers No 321

Other authors: Robert N McCauley

Jul 2010

The international financial crisis: timeline, impact and policy responses in Asia and the Pacific

BIS Papers No 52

Other authors: Andrew Filardo, Jason George, Mico Loretan, Anella Munro, Ilhyock Shim, Philip Wooldridge, James Yetman and Haibin Zhu