• 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.

Facing the North-Atlantic Financial Crisis: A European Perspective*
Facing the North-Atlantic financial crisis: A European perspective
Hans-HelmutKotz
The North Atlantic Financial Crisis: Protracted Acknowledgement

In retrospect, we date the beginning of the financial crisis to early August 2007. At that time, however, this was by no means a consensual view. Talk was of turbulences. And, in fact, we were still far away from what brought over the course of a year at least the North Atlantic economies close to a financial meltdown.1 In early August 2007, the first hints of trouble came from interbank money markets—an activity, while being essential, largely conducted outside of public attention. In fact, to the non-acquainted, the sudden jump in the interest rate differential between unsecured and collateralized interbank loans was barely more ...

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