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Chapter 15: The Integration of Capital Markets in the Asian Region: Some Practical Steps Forward*
There has been a major shift within Asia in the past decade to strengthen national economic and financial systems and markets, and to form co-operative arrangements with the intention of strengthening the region's financial stability and economic growth.
The motivation for this is varied. It is partly a reaction to the economic and social havoc of the Asian financial crisis of 1997–98. It is partly to ensure that financial markets and systems can meet the increasingly complex needs of Asian households and firms as their cross-border trade, investment, and people movement increases, both in the region and beyond. ...