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.
Chapter 14: A New Financial Market Structure for East Asia: How to Promote Regional Financial Market Integration*
A New Financial Market Structure for East Asia: How to Promote Regional Financial Market Integration*
East Asia's capacity to secure strong and stable economic growth depends on, among other things, a secure foundation of well-functioning financial markets, institutions, and systems. In general, the region's financial markets are relatively weak, undeveloped, and unsophisticated, although there are exceptions, notably, Australia, Hong Kong, China, Japan, and Singapore. The region's financial institutions are also generally weak, again with a number of exceptions. Not only are the banking sectors of some of the crisis-affected economies still heavily burdened by the fallout from the Asian financial crisis of 1997–98, but most banks in the ...