Financial Deregulation and Integration in East Asia

Financial Deregulation and Integration in East Asia PDF Author: Takatoshi Ito
Publisher: University of Chicago Press
ISBN: 0226386953
Category : Business & Economics
Languages : en
Pages : 416

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Book Description
The increased mobility and volume of international capital flows is a striking trend in international finance. While countries worldwide have engaged in financial deregulation, nowhere is this pattern more pronounced than in East Asia, where it has affected in unanticipated ways the behavior of exchange rates, interest rates, and capital flows. In these thirteen essays, American and Asian scholars analyze the effects of financial deregulation and integration on East Asian markets. Topics covered include the roles of the United States and Japan in trading with Asian countries, macroeconomic policy implications of export-led growth in Korea and Taiwan, the effects of foreign direct investment in China, and the impact of financial liberalization in Japan, Korea, and Singapore. Demonstrating the complexity of financial deregulation and the challenges it poses for policy makers, this volume provides an excellent picture of the overall status of East Asian financial markets for scholars in international finance and Asian economic development.

Financial Deregulation and Integration in East Asia

Financial Deregulation and Integration in East Asia PDF Author: Takatoshi Ito
Publisher: University of Chicago Press
ISBN: 0226386953
Category : Business & Economics
Languages : en
Pages : 416

Get Book Here

Book Description
The increased mobility and volume of international capital flows is a striking trend in international finance. While countries worldwide have engaged in financial deregulation, nowhere is this pattern more pronounced than in East Asia, where it has affected in unanticipated ways the behavior of exchange rates, interest rates, and capital flows. In these thirteen essays, American and Asian scholars analyze the effects of financial deregulation and integration on East Asian markets. Topics covered include the roles of the United States and Japan in trading with Asian countries, macroeconomic policy implications of export-led growth in Korea and Taiwan, the effects of foreign direct investment in China, and the impact of financial liberalization in Japan, Korea, and Singapore. Demonstrating the complexity of financial deregulation and the challenges it poses for policy makers, this volume provides an excellent picture of the overall status of East Asian financial markets for scholars in international finance and Asian economic development.

Studies on Financial Markets in East Asia

Studies on Financial Markets in East Asia PDF Author: Masayuki Susai
Publisher: World Scientific
ISBN: 9814343374
Category : Business & Economics
Languages : en
Pages : 189

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Book Description
This book will be an important addition to the limited number of books that discuss finance and accounting issues in East Asian countries. While presenting recent empirical studies on finance and accounting in East Asian economies, it also reveals the underlying reasons for remarkable economic growth and emerging performance of the financial markets in the East Asian countries. It introduces newly developed financial products, institutions, governance mechanism, banking policy changes and their implications in the East Asian economies, and discusses the way forward for these economies with recommendations for policy implications. It also contains suggestions for other developing countries trying to achieve rapid growth.

Fostering Monetary And Financial Cooperation In East Asia

Fostering Monetary And Financial Cooperation In East Asia PDF Author: Barry Eichengreen
Publisher: World Scientific
ISBN: 9814468185
Category : Business & Economics
Languages : en
Pages : 190

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Book Description
Since the Asian financial crisis of 1997-1998, there has been a deep and abiding desire on the part of Asian policy makers and opinion makers to enhance the region's economic, monetary and financial self-sufficiency — or at least to ring-fence the region against financial instability and give it a louder voice in global financial affairs. There has been progress in these directions, notably in the form of the Chiang Mai Initiative of financial supports and the Asian Bond Market Initiative to build a single Asian financial market. But progress is hindered by disagreements among the principal national governments — Japan, China and South Korea — and resistance to the development of an Asian bloc from both Europe and the United States.This volume considers these issues from a number of different national and analytical perspectives. Scholars from all the relevant regions and countries are represented: Japan, China, Korea, Europe and the United States. While there have been a few previous books and articles concerned with the issue of Asian integration, this is one of the first volumes to successfully draw together top contributors from these different countries and regions to address the issues in a rigorous but relatively accessible way.

Financial Sector Crisis and Restructuring

Financial Sector Crisis and Restructuring PDF Author: Carl-Johan Lindgren
Publisher:
ISBN: 9781557758712
Category : Business & Economics
Languages : en
Pages : 103

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Book Description
An IMF paper reviewing the policy responses of Indonesia, Korea and Thailand to the 1997 Asian crisis, comparing the actions of these three countries with those of Malaysia and the Philippines. Although all judgements are still tentative, important lessons can be learned from the experiences of the last two years.

Two Crises, Different Outcomes

Two Crises, Different Outcomes PDF Author: T. J. Pempel
Publisher: Cornell University Press
ISBN: 0801455014
Category : Political Science
Languages : en
Pages : 280

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Book Description
Two Crises, Different Outcomes examines East Asian policy reactions to the two major crises of the last fifteen years: the global financial crisis of 2008–9 and the Asian financial crisis of 1997–98. The calamity of the late 1990s saw a massive meltdown concentrated in East Asia. In stark contrast, East Asia avoided the worst effects of the Lehman Brothers collapse, incurring relatively little damage when compared to the financial devastation unleashed on North America and Europe. Much had changed across the intervening decade, not least that China rather than Japan had become the locomotive of regional growth, and that the East Asian economies had taken numerous steps to buffer their financial structures and regulatory regimes. This time Asia avoided disaster; it bounced back quickly after the initial hit and has been growing in a resilient fashion ever since. The authors of this book explain how the earlier financial crisis affected Asian economies, why government reactions differed so widely during that crisis, and how Asian economies weathered the Great Recession. Drawing on a mixture of single-country expertise and comparative analysis, they conclude by assessing the long-term prospects that Asian countries will continue their recent success.

Business Groups in East Asia

Business Groups in East Asia PDF Author: Se-jin Chang
Publisher: Oxford University Press, USA
ISBN: 0199287341
Category : Business & Economics
Languages : en
Pages : 279

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Book Description
'Business Groups in East Asia' examines some East Asian business groups and their subsequent restructuring following the Asian Crisis of 1997. This crisis affected the inter-relationships among the socio-cultural environment, the state and the market of each country quite differently.

China's Banking and Financial Markets

China's Banking and Financial Markets PDF Author: Li Yang
Publisher: John Wiley & Sons
ISBN: 1118580281
Category : Business & Economics
Languages : en
Pages : 401

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Book Description
"This is a very timely book. With the recapitalization and reform of China's banking sector now well under way, the banks are on the brink of a new era of growth and expansion. This work is the definitive reference on the banking sector in China, and is an essential tool for anyone seeking to understand the dynamics of financial intermediation on the Mainland. It sets out the facts, free of the judgment calls that so often cloud the true picture of the health of China's banking system." --Dr. David K.P. Li, Chairman and Chief Executive, The Bank of East Asia, Limited "As China continues its impressive pace of economic growth, the rest of the world is constantly reassessing the opportunities and challenges it presents. This book is the first official report on the status of China's financial services industry and financial markets. For the first time, the international community gets access to the same information that the Chinese government uses in making key policies. Such unique insights make this book an essential read for business leaders, investors, policy makers, scholars, and anyone who is interested in understanding China's profound impact on businesses and consumers globally." --Maurice R. Greenberg, Chairman & CEO, C.V. Starr & Co. "This is the first book that introduces all aspects of the Chinese banking and financial markets to international audiences. From its developmental history to its contemporary challenges, China's banking and finance markets are presented, explored and analyzed with great detail and in great depth. Both the richness of the data and the scholarly strength of the methodology are a milestone. China's increasing participation in global financial markets makes this book a must read for all financial professionals worldwide." --Lefei Liu, Chief Investment Officer, ChinaLife Insurance

The East Asian Crisis

The East Asian Crisis PDF Author: Ms.Kalpana Kochhar
Publisher: International Monetary Fund
ISBN: 1451935544
Category : Business & Economics
Languages : en
Pages : 56

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Book Description
This paper reviews macroeconomic developments during the first year of the crisis in east Asia and draws some preliminary policy lessons. The crisis is rooted in the interaction of large capital inflows and weak private and public sector governance. At the same time, macroeconomic adjustment in these countries has resulted in some surprising outcomes, including severe economic contractions, low inflation, and rapid external adjustment. The lessons for crisis resolution include the importance of tight monetary policy early on for exchange rate stabilization, flexible fiscal policy, and comprehensive structural reform. Crises are avoided by prudent macroeconomic policies, diligent bank supervision, transparent data dissemination, strong governance, and forward-looking policymaking, even in good times.

The East Asian Miracle

The East Asian Miracle PDF Author:
Publisher:
ISBN:
Category :
Languages : en
Pages : 389

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Book Description


The Future of China's Bond Market

The Future of China's Bond Market PDF Author: Mr. Alfred Schipke
Publisher: International Monetary Fund
ISBN: 151358278X
Category : Business & Economics
Languages : en
Pages : 52

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Book Description
China’s bond market is destined to play an increasingly important role, both at home and abroad. And the inclusion of the country’s bonds in global indexes will be a milestone for its financial market integration, bringing big opportunities as well as challenges for policymakers and investors alike. This calls for a good understanding of China’s bond market structure, its unique characteristics, and areas where reforms are needed. This volume comprehensively analyzes the different segments of China’s bond market, from sovereign, policy bank, and credit bonds, to the rapidly growing local government bond market. It also covers bond futures, green bonds, and asset-backed securities, as well as China’s offshore market, which has played a major role in onshore market development.