Financing Capital Market Intermediaries in East and Southeast Asia PDF Download
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Author: Hal Scott
Publisher: Springer
ISBN:
Category : Business & Economics
Languages : en
Pages : 344
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Book Description
Scholars and financiers from Japan, Britain, and the US provide a public policy perspective on how stock brokers, underwriters, dealers, and other intermediaries fund their capital market operations in eight quickly growing countries. They explain that though uncertainty rose in the 1980's about the self-funding ability of securities firms in the major world financial markets, the concern did not extend to Asia because the demand for funding was low and the supply constrained. They warn government policy makers however that the forces limiting demand are about to change. Their account is analytic and comparative rather than purely descriptive. Annotation copyright by Book News, Inc., Portland, OR
Author: Hal Scott
Publisher: Springer
ISBN:
Category : Business & Economics
Languages : en
Pages : 344
Get Book Here
Book Description
Scholars and financiers from Japan, Britain, and the US provide a public policy perspective on how stock brokers, underwriters, dealers, and other intermediaries fund their capital market operations in eight quickly growing countries. They explain that though uncertainty rose in the 1980's about the self-funding ability of securities firms in the major world financial markets, the concern did not extend to Asia because the demand for funding was low and the supply constrained. They warn government policy makers however that the forces limiting demand are about to change. Their account is analytic and comparative rather than purely descriptive. Annotation copyright by Book News, Inc., Portland, OR
Author: Nick J Freeman
Publisher: Institute of Southeast Asian Studies
ISBN: 9789812301819
Category : Business & Economics
Languages : en
Pages : 392
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Book Description
This book examines the various policy options open to the ten countries of the region for improving and diversifying their financial resources. The Asian financial crisis exposed the vulnerabilities of Southeast Asia’s bank-based finance sector, and illustrated the pressing need to develop a more robust and multi-faceted financial infrastructure across the region. Looking ahead, sustained economic development in Southeast Asia will be constrained unless the region can embrace new sources of capital. Authored by experts in their respective fields, the chapters of this book examine such issues as the region’s current debt burden, the region’s banking sector since the 1997–98 crisis, micro-financing efforts in the region, new opportunities in project financing, developing venture capital capabilities, reviving foreign direct investment inflows, creating bond markets, developing the region’s lacklustre equity markets, and the potential benefits of financial integration.
Author: Michael T. Skully
Publisher: Springer
ISBN: 1349041181
Category : Business & Economics
Languages : en
Pages : 429
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Book Description
Author: Alison Harwood
Publisher:
ISBN:
Category : Capital market
Languages : en
Pages : 76
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Book Description
Author: Ky Cao
Publisher:
ISBN: 9780203740064
Category :
Languages : en
Pages :
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Book Description
Author: X. Zhang
Publisher: Springer
ISBN: 0230346464
Category : Political Science
Languages : en
Pages : 285
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Book Description
In this book, Xiaoke Zhang addresses two fundamental political and policy questions: why do politicians have heterogeneous incentives to pursue public-regarding policies through capital market reforms and why do they differ in their abilities to initiate and implement market reform policies decisively and resolutely?
Author: Mr.Luc Laeven
Publisher: International Monetary Fund
ISBN: 1498372201
Category : Business & Economics
Languages : en
Pages : 25
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Book Description
Capital markets can improve risk sharing and the efficiency with which capital is allocated to the real economy, boosting economic growth and welfare. However, despite these potential benefits, not all countries have well developed capital markets. Moreover, government-led initiatives to develop local capital markets have had mixed success. This paper reviews the literature on the benefits and costs of developing local capital markets, and describes the challenges faced in the development of such markets. The paper concludes with a set of policy recommendations emerging from this literature.
Author: Asian Development Bank
Publisher: Oxford University Press, USA
ISBN: 9780198099451
Category : Business & Economics
Languages : en
Pages : 0
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Book Description
The fiscal crisis in Europe continues to cast a shadow on the global economic outlook, and the securities issued by the United States and European nations are losing their status as traditional safe assets and reserve value. As a result, investors and governments are looking to diversify their investment portfolio with emerging markets, particularly Asian bonds. Such renewed interest has led to excessive capital inflows, making the region increasingly vulnerable to external shocks. However, on the other hand, it leads to abundant liquidity in the capital markets, which reduces financing costs and expands investment opportunities. This book analyses this dilemma and proposes that development of local bond markets and achieving greater market depth and interconnectedness is the best bet to prevent the reoccurrence of a currency crisis like 1997. It thus, assesses the progress achieved thus far in capital market integration in Asia, and compares it with its global peers. The study also assesses the degree to which volatility in equity and bond market returns, driven by financial turmoil originating at both the regional and global levels, spills over into emerging Asia domestic equity and bond markets. The results of this analysis indicate that such spill-over significantly impacts both domestic equity and bond markets in the region. This finding suggests that on-going regional capital market integration initiatives should take into account the risk of contagion that regional financial integration presents, and introduce measures for mitigating such risk as a means of ensuring financial stability in the region.
Author: Augusto de la Torre
Publisher: World Bank Publications
ISBN: 0821365444
Category : Business & Economics
Languages : en
Pages : 232
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Book Description
Back in the early 1990s, economists and policy makers had high expectations about the prospects for domestic capital market development in emerging economies, particularly in Latin America. Unfortunately, they are now faced with disheartening results. Stock and bond markets remain illiquid and segmented. Debt is concentrated at the short end of the maturity spectrum and denominated in foreign currency, exposing countries to maturity and currency risk. Capital markets in Latin America look particularly underdeveloped when considering the many efforts undertaken to improve the macroeconomic environment and to reform the institutions believed to foster capital market development. The disappointing performance has made conventional policy recommendations questionable, at best. 'Emerging Capital Markets and Globalization' analyzes where we stand and where we are heading on capital market development. First, it takes stock of the state and evolution of Latin American capital markets and related reforms over time and relative to other countries. Second, it analyzes the factors related to the development of capital markets, with particular interest on measuring the impact of reforms. And third, in light of this analysis, it discusses the prospects for capital market development in Latin America and emerging economies and the implications for the reform agenda.
Author: Andrew Walter
Publisher: Oxford University Press
ISBN: 0199643091
Category : Business & Economics
Languages : en
Pages : 346
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Book Description
This volume analyses developments in East Asian capitalism since the 1980s, focussing on three main areas: business systems, financial structures, and labour markets.
