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Author: Stijn Claessens
Publisher: World Bank Publications
ISBN:
Category : Internacionalizacion - Asia
Languages : en
Pages : 64
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Book Description
April 1998 Asian countries should consider the benefits of opening their financial service sectors more quickly-at the same time that they are liberalizing capital accounts and deregulating domestic financial markets. The internationalization of financial services-eliminating discrimination between the treatment of foreign and domestic providers of financial services and removing barriers to the cross-border provision of financial services-is of global interest, especially in Asia. Most of Asia limits the entry of foreign financial firms much more than otherwise comparable countries do. Empirical evidence for Asia and elsewhere suggests that this slows down institutional development and that, as a result, it costs more to provide financial services. Asian countries could benefit from accelerating the opening of the financial services sector, in conjunction with the further liberalization of capital accounts and domestic deregulation of financial markets. Apart from other benefits, internationalization helps build more robust, efficient financial systems by introducing international practices and standards; by improving the quality, efficiency, and breadth of financial services; and by allowing more stable sources of funds. The ongoing WTO negotiation of financial services under GATS gives countries the opportunity to commit to opening their financial sectors. Safeguards can be built into the process, and the liberalization can be phased in gradually. This paper-a product of the Economic Policy Division, Poverty Reduction and Economic Management Network-is part of a larger effort in the network to study financial reform in developing countries. The paper was written during the summer of 1997, before the East Asia financial crisis and before the conclusion of the WTO negotiations in December 1997.
Author: Stijn Claessens
Publisher: World Bank Publications
ISBN:
Category : Internacionalizacion - Asia
Languages : en
Pages : 64
Get Book Here
Book Description
April 1998 Asian countries should consider the benefits of opening their financial service sectors more quickly-at the same time that they are liberalizing capital accounts and deregulating domestic financial markets. The internationalization of financial services-eliminating discrimination between the treatment of foreign and domestic providers of financial services and removing barriers to the cross-border provision of financial services-is of global interest, especially in Asia. Most of Asia limits the entry of foreign financial firms much more than otherwise comparable countries do. Empirical evidence for Asia and elsewhere suggests that this slows down institutional development and that, as a result, it costs more to provide financial services. Asian countries could benefit from accelerating the opening of the financial services sector, in conjunction with the further liberalization of capital accounts and domestic deregulation of financial markets. Apart from other benefits, internationalization helps build more robust, efficient financial systems by introducing international practices and standards; by improving the quality, efficiency, and breadth of financial services; and by allowing more stable sources of funds. The ongoing WTO negotiation of financial services under GATS gives countries the opportunity to commit to opening their financial sectors. Safeguards can be built into the process, and the liberalization can be phased in gradually. This paper-a product of the Economic Policy Division, Poverty Reduction and Economic Management Network-is part of a larger effort in the network to study financial reform in developing countries. The paper was written during the summer of 1997, before the East Asia financial crisis and before the conclusion of the WTO negotiations in December 1997.
Author: Barry Eichengreen
Publisher: Brookings Institution Press
ISBN: 0815726120
Category : Political Science
Languages : en
Pages : 401
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Book Description
A Brookings Institution Press and Asian Development Bank Institute publication Meet the next global currency: the Chinese renminbi, or the "redback." Following the global financial crisis of 2008, China's major monetary policy objective is the internationalization of the renminbi, that is, to create an inter-national role for its currency akin to the international role currently played by the U.S. dollar. Renminbi internationalization is a hot topic, for good reason. It is, essentially, a window onto the Chinese government's aspirations and the larger process of economic and financial transformation. Making the renminbi a global currency requires rebalancing the Chinese economy, developing the country's financial markets and opening them to the rest of the world, and moving to a more flexible exchange rate. In other words, the internationalization of the renminbi is a monetary and financial issue with much broader supra-monetary and financial implications. This book offers a new perspective on the larger issues of economic, financial, and institutional change in what will eventually be the world's largest economy.
Author: Nipawan Thirawat
Publisher: Chandos Publishing
ISBN: 0081008856
Category : Business & Economics
Languages : en
Pages : 254
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Book Description
Internationalization and Managing Networks in the Asia Pacific consists of theories and analysis in sections that are related to network management, the power of business networking and the significance and role that business networking plays in propelling organizations towards international business, especially in Asia. Moreover, it includes stakeholder theory and applications of relevant theories to assist in identifying key stakeholders in the ASEAN Economic Community (AEC). The first section contains various fascinating headings, such as analysis of stakeholders' needs, negotiation techniques with stakeholders, relationship management with stakeholders and the role of network management in expanding international business within Asia. The second section emphasizes internationalization theories and empirical evidence with case studies of Asian multinational companies that have succeeded in expanding abroad, such as Singaporean, Taiwanese, Thai, Malaysian and Indonesian companies. These help provide guidelines of analysis for the adaptations these companies made to internationalize successfully, market penetration strategies used for the AEC and international expansion of Asian companies across countries in Asia and other continents. In addition, an included debate provides information on the applications of business networking and internationalization theories, best practices and development policy recommendations, along with a discussion of the role of the public sector in supporting overseas expansion of the private sector. - Consists of two interesting and important topics about network management and internationalization - Focuses on the role of Asian companies, including international activities - Includes case studies and empirical evidence from works by researchers and experts on network management and international business expansion - Provides policy advice to the public sectors within Asia on formulating and implementing policies - Offers insight into the role of the public sector in supporting international business activities of the private sector
Author: Takeshi Nishimura
Publisher: Springer
ISBN: 9784431556145
Category : Business & Economics
Languages : en
Pages : 0
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Book Description
To provide an understanding of financial globalization from a historical point of view, this book sheds light on international banking in Asia before World War II. International banking facilitated the relationship between Asian economic development and international financial centres. Focusing on the origins of a wide variety of banks not just from Europe but beyond Europe, such as the United States and Asia, particularly Japan and China, this book comprehensively explores competition and collaboration among international banks in Asia. It clarifies international banking’s role of integrating the global market and the impact on both ends of the global economy—the international financial centres in the developed world and the developing economies in Asia. Economic development in Asia from the late nineteenth century to the 1930s as a part of the globalizing economy mirrors Asia’s current role as the global economic-growth powerhouse. This book focuses on the two key similarities between Asia’s past and present: intra-Asian relationships and the relationship between Asia and developed economies, namely, Europe, the United States, and Japan. Getting into the heart of the relationships, i.e., finance, this book presents a sophisticated and realistic image of the tangled network of international economic relations, distinguished from the conventional image of a one-sided advantage or disadvantage among involved nations.
Author: Svenja Schlichting
Publisher: Springer
ISBN: 0230583555
Category : Political Science
Languages : en
Pages : 288
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Book Description
Assesses the stability of the Chinese economy and the nature of its economic governance. Svenja Schlichting examines how internationalization has impacted on financial market development in China and how far this has contributed to the development of new institutions within China.
Author:
Publisher: Allied Publishers
ISBN: 9788177648416
Category :
Languages : en
Pages : 292
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Book Description
Author: Stijn Claessens
Publisher:
ISBN:
Category :
Languages : en
Pages : 60
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Book Description
Asian countries should consider the benefits of opening their financial service sectors more quickly - at the same time that they are liberalizing capital accounts and deregulating domestic financial markets. The internationalization of financial services - eliminating discrimination between the treatment of foreign and domestic providers of financial services and removing barriers to the cross-border provision of financial services - is of global interest, especially in Asia.Most of Asia limits the entry of foreign financial firms much more than otherwise comparable countries do. Empirical evidence for Asia and elsewhere suggests that this slows down institutional development and that, as a result, it costs more to provide financial services. Asian countries could benefit from accelerating the opening of the financial services sector, in conjunction with the further liberalization of capital accounts and domestic deregulation of financial markets.Apart from other benefits, internationalization helps build more robust, efficient financial systems by introducing international practices and standards; by improving the quality, efficiency, and breadth of financial services; and by allowing more stable sources of funds. The ongoing WTO negotiation of financial services under GATS gives countries the opportunity to commit to opening their financial sectors. Safeguards can be built into the process, and the liberalization can be phased in gradually.This paper - a product of the Economic Policy Division, Poverty Reduction and Economic Management Network - is part of a larger effort in the network to study financial reform in developing countries. The paper was written during the summer of 1997, before the East Asia financial crisis and before the conclusion of the WTO negotiations in December 1997.
Author: Naoyuki Yoshino
Publisher: Springer Science & Business Media
ISBN: 4431543090
Category : Business & Economics
Languages : en
Pages : 104
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Book Description
This book records the first success stories of a new form of financial intermediation, the hometown investment fund, that has become a national strategy in Japan, partly to meet the need to finance small and medium-sized enterprises (SMEs) after the devastating earthquake and tsunami in March 2011. The hometown investment fund has three main advantages. First, it contributes to financial market stability by lowering information asymmetry. Individual households and firms have direct access to information about the borrowing firms, mainly SMEs, that they lend to. Second, it is a stable source of risk capital. The fund is project driven. Firms and households decide to invest by getting to know the borrowers and their projects. In this way the fund distributes risk but not so that it renders risk intractable, which was the problem with the “originate and distribute” model. Third, it contributes to economic recovery by connecting firms and households with SMEs that are worthy of their support. It also creates employment opportunities, at the SMEs as well as for the pool of retirees from financial institutions who can help assess the projects. Introduction of the hometown investment fund has huge global implications. The world is seeking a method of financial intermediation that minimizes information asymmetry, distributes risk without making it opaque, and contributes to economic recovery. Funds similar to Japan’s hometown investment fund can succeed in all three ways. After all, the majority of the world’s businesses are SMEs. The first chapter explains the theory behind this method, and the following chapters relate success stories from Japan and other parts of Asia. This book should encourage policymakers, economists, lenders, and borrowers, especially in developing countries, to adopt this new form of financial intermediation, thus contributing to global economic stability.
Author: Glaessner
Publisher:
ISBN:
Category :
Languages : en
Pages : 0
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Book Description
Author: Stijn Claessens
Publisher: Springer
ISBN:
Category : Business & Economics
Languages : en
Pages : 490
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Book Description
The internationalization of financial services is an important issue for the strengthening and liberalizing of financial systems in developing countries. There has been considerable support for the view that internationalization can assist countries
