39  Around £  14  BIS central bankers’ speeches  References Booth, C, Cameron, D, Cumming, L, Gilby, N, Hale, C, Hoolahan (2014) “National Citizen Service 2013 Evaluation Report”, Ipsos Mori: Social Research Institute: http://www.ncsyes.co.uk/sites/all/themes/ncs/pdf/ncs_2013_evaluation_report_final.pdf Campbell, R and Fujiwara, D, “Valuation Techniques for Social Cost-Benefit Analysis”, Department for Work and Pensions and HM Treasury: https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/209107/green book_valuationtechniques.pdf Casiday, R, Kinsman, E, Fisher, C, and Bambra, C (2008), “Volunteering and Health: What Impact Does It Really Have?”. Report commissioned by Volunteering England and carried out by the University of Wales Lampeter. http://www.ivr.org.uk/ivr-news/133-volunteering-health-what-impact-does-it-really-have Centre for Mental Health, (2010), “The economic and social costs of mental health problems in 2009/10”: http://www.centreformentalhealth.org.uk/pdfs/Economic_and_social_costs_2010.pdf Charities Aid Foundation, (2013), “World Giving Index 2013”: https://www.cafonline.org/PDF/WorldGivingIndex2013_1374AWEB.pdf Coyle, D., (2014), “Measuring economic progress”, VoxEU: http://www.voxeu.org/article/ measuring-economic-progress Deaton, A, Durand, M, Halpern, D, and Layard, L, O’Donnell, G (2014), “Wellbeing and Policy”, Report of the Commission on Wellbeing and Policy (commissioned by The Legatum Institute): http://li.com/docs/default-source/commission-on-wellbeing-and-policy/commission-onwellbeing-and-policy-report---march-2014-pdf-.pdf?sfvrsn=5 Diener, E, Lyubomirsky, S, and King, L (2005), “The Benefits of Frequent Positive Affect: Does Happiness Lead to Success?”, Psychological Bulletin, Vol. 131 No. 6. http://sonjalyubomirsky.com/wp-content/themes/sonjalyubomirsky/papers/LKD2005.pdf Dunn, E, Aknin, L, and Norton, M, (2014) “Prosocial Spending and Happiness: Using Money to Benefit Others Pays Off”, Current Directions in Psychological Science 2014 http://www.hbs.edu/faculty/Publication%20Files/Dunn%20Aknin%20%20Norton%202014%20CD_bfccfc43-4139-476a-904b-ebcf855ab7c3.pdf Ellis Paine, A., McKay, S., and D. Moro, (2013), “Does volunteering improve employability? Evidence from the British Household Panel Survey”, Third Sector Research Centre Briefing Paper 100 and Working Paper 100.

These arrangements will enable the Eurosystem and the ECB to participate fully in international cooperation. This is all the more important since the international agenda contains important items for the future. The generally improved outlook for the world economy should not lead to complacency and to a diminishing of the reform efforts initiated in the aftermath of the financial crises of the past two years. Strengthening the architecture of the international financial system remains an important topic on the international agenda. The financial crises in Asia, Russia and Brazil, with risks of contagion to other emerging market economies and spill-over effects into capital markets of matured economies (e.g. LTCM in the United States), highlighted the need substantially to improve the ability to prevent and resolve crises. Against this background, a wide range of proposals was put forward and reviewed. One important aspect concerns the strengthening of the soundness of the banking systems and of regulatory and supervisory frameworks in emerging market economies. Another reform initiative relates to the transparency of the private and public sectors. The main objective here is to improve available information through the elaboration of international standards and codes of good practices. Further progress in that area will contribute significantly to crisis prevention, since improved information will enable a better risk assessment by market participants. The challenge now is to keep the political momentum for reform and to pursue the implementation of the envisaged measures in order to strengthen the resilience of the international financial system.