• Summary
  • Contents
  • Subject index

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.

How to Develop Capital Markets in East Asia*
How to develop capital markets in East Asia

This chapter sets out on an exploratory journey covering three key questions: Why has capital market development in East Asia lagged behind the developed markets in the West; why is it so important to advance the pace of capital market development; and how to do this? I first explored these questions in “Capital Market Development in Asia and Future Challenges” at the Seventh OECD–ADBI Roundtable on Capital Market Reform in Asia in October 2005, which was heavily influenced by my experience in the Asian financial crisis of 1997–98 and the http://dot.com bubble of 2000. Since then, the global financial crisis of 2007–09 has exposed fundamental, theoretical, and practical questions on ...

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