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Section IV: Regional Co-Operation and Integration of Capital Markets in Asia
One positive outcome of the Asian financial crisis was that it helped re-focus policy attention on greater regional co-operation in capital market development, particularly in terms of institutional development and harmonization of the standards and codes governing cross-border financial transactions. However, progress has been uneven, reflecting the different stages of development in individual Asian countries.
This section explores the options for moving forward the vision for closer financial integration in the region and reviews the progress of various initiatives to promote regional financial co-operation and capital market integration in Asia. It begins with a chapter written jointly by Gordon de Brouwer and Jenny Corbett on “A New Financial Market ...