Financial Development and Cooperation in Asia and the Pacific

Financial Development and Cooperation in Asia and the Pacific

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The 1997a€“8 Asian financial crisis exposed weaknesses in the regiona€™s national financial systems, but since then East Asia has become the worlda€™s most dynamic economic region. Domestic financial systems have developed, cross-border financial flows within the region are growing apace as demand from governments and large firms increases and as the capabilities of financial institutions develop, and governments have initiated regional cooperation aimed at preventing future crises and managing them if they occur. This book examines the economies of Asia and the Pacific with reference to financial reform and liberalization, monetary policy frameworks, banking and capital markets, regulation and supervision and macroeconomic policies. Further, it asks what lessons have been learned from both the Asian financial crisis and the recent financial crisis, how to engender financial stability in the region, and how to ensure that the benefits of economic growth and financial development reach all members of society. Across four key sections, the chapters examine the future implications of historical studies of the relationships between financial development and growth; financial development including banks, non-bank financial institutions and capital markets; how financial stability is being sought in the region; and Chinaa€™s plans for capital account opening and renminbi internationalization and subsequent the policy implications for Chinaa€™s neighbours. This book draws on papers originally presented to the 36th Pacific Trade and Development Conference held in Hong Kong in 2013, and features contributions from leading academics and economists from around the world. As such, it will be of great interest to students and scholars of Asian economics, Asia Pacific studies, international economics and international finance.What makes this an unfair test of raising capital requirements in a boom, however , is the unusual nature of Japanese bank ... In the face of a rise in mortgage loans of 50.5 per cent in the year to March 2005, and gains in credit card and otheranbsp;...

Title:Financial Development and Cooperation in Asia and the Pacific
Author: Edward K. Y. Chen, Wendy Dobson
Publisher:Routledge - 2014-11-13

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