Capital Market Reform in Asia contains a selection of papers that capture the essence of capital market reform in the Asian region, including important lessons from the global financial crisis of 2007–2009. It points to the need for Asian economies to adapt their capital market development strategies to rebalance growth by increasing mobilization of Asian savings for Asian investment.
Capital Market Reform in Asia is derived from 11 round table conferences on Capital Market Reform in Asia, jointly organized by Asian Development Bank Institute (ADBI) and the Organization for Economic Co-operation and Development (OECD).
The volume charts the progress of capital market development in Asia after the 1997–1998 Asian financial crisis, providing insights into capital market reform and the new challenges that have arisen since the global financial crisis of 2007–2009, amidst reforms to the international financial architecture.
Section I: Development of Capital Markets in Asia
Section I takes stock of the state of the capital markets in Asia soon after the Asian financial crisis of 1997–98. It begins with a chapter by M. S. Mohanty and Philip Turner from the Bank for International Settlements (BIS) on “Banks and Financial Intermediation in Emerging Asia: Reforms and New Risks,” followed by a chapter by Andrew Sheng on “How to Develop Capital Markets in East Asia.”
Chapter 1: Banks and Financial Intermediation in Emerging Asia: Reforms and New Risks
This chapter by M. S. Mohanty and Philip Turner reviews the transformation of Asia's banking system since the Asian financial crisis of 1997–98 and highlights the forces that are changing financial intermediation in the region, ...