Michael Chui

Principal Economist

Monetary and Economic Department, Emerging Markets

All BIS publications (12)

Browse all publications by this author

BIS Bulletin No 139

BIS Bulletin No 139 26 Oct 2026

Chokepoints in global supply chains: lessons from rare earths and hard disk drives

Concentration and limited substitutability can turn the efficiency gains from global supply chains into vulnerabilities…

Ryan Niladri Banerjee

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and

Leonardo Gambacorta

BIS Bulletin No 138

BIS Bulletin No 138 15 Oct 2026

Chokepoint disruptions and their macroeconomic consequences

Rising geopolitical tensions, including trade restrictions and conflicts, are increasingly disrupting global supply chains,…

Ibrahim Alshehri

,

Ryan Niladri Banerjee

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,

,

and

Fabrizio Zampolli

image of the earth focusing on Africa continent

BIS Bulletin No 132 11 Aug 2026

Africa's public debt amid global headwinds: balancing resilience and vulnerabilities

The conflict in the Middle East has raised energy and fertiliser prices, weakened growth and intensified fiscal pressures…

and

Leonardo Gambacorta

The rise and risks of synthetic risk transfers

Publication 16 Mar 2026

The rise and risks of synthetic risk transfers

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and

Costas Stephanou

BIS Bulletin No 109

BIS Bulletin No 109 18 Jul 2025

Navigating global headwinds: Africa's trade landscape and growth opportunities

Africa is not immune from trade challenges. Its direct exposure to new US tariffs is relatively limited, but indirect effects…

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Leonardo Gambacorta

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Emanuel Kohlscheen

and

BIS Bulletin No 103

BIS Bulletin No 103 11 Jun 2025

Investment in an increasingly uncertain global landscape

Private business fixed investment has fallen or remained flat in advanced economies for decades, with a recent levelling-off…

Matthias Burgert

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,

and

Fabrizio Zampolli

BIS Bulletin No 101

BIS Bulletin No 101 4 Jun 2025

Elasticity in the monetary system

Today's two-tier monetary system performs a crucial role: providing money in an elastic way through overdrafts and lines of…

Ryan Niladri Banerjee

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,

and

Jose María Vidal Pastor

BIS Bulletin No 68 7 Feb 2023

Why are central banks reporting losses? Does it matter?

This bulletin explores why central banks are reporting losses, highlighting that rising interest rates and asset valuation…

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Paul Moser-Boehm

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Albert Pierres Tejada

BIS Working Paper No 947 7 Jun 2021

Money, technology and banking: what lessons can China teach the rest of the world?

Technology companies entering the financial services industry have become a global phenomenon over the past decade. This trend…

All external publications (3)

External publication 1 Dec 2004

Financial systems in Europe, the USA and Asia

in Oxford Review of Economic Policy

,

and

Angela Maddaloni

External publication 1 Mar 2002

Sovereign liquidity crises: analytics and implications for public policy

in Journal of Banking & Finance

Andrew G Haldane

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and

External publication 1 Aug 2001

Winners and losers in a North-South model of growth, innovation and product cycles

in Journal of Development Economics

,

and

Joseph Pearlman

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