Description
Book SynopsisThe growth of financial markets has clearly outpaced the development of financial market regulations. With growing complexity in the world of finance, and the resultant higher frequency of financial crises, all eyes have shifted toward the current inadequacy of financial regulation.
This book expertly examines what this episode means for Asia's financial sector and its stability, and what the implications will be for the region's financial regulation. By focusing on legal and institutional frameworks, the book also elaborates on various issues and challenges in terms of how financial liberalization can maximize the benefits and minimize the risks of crisis.
The book will appeal to academics, students, and policymakers across a diverse range of fields including: international finance and trade, economics, Asian studies, development, and development economics.
Trade Review‘Policymakers and academics, especially those interested in understanding the complexity of Asian economies, may ?nd this book very useful as a starting point in their studies.’ -- Asian-Pacific Economic Literature
Table of ContentsContents: PART I INTRODUCTION 1. Overview and Summary Iwan J. Azis and Hyun Song Shin PART II MACRO PRUDENTIAL SUPERVISORY SYSTEM AND DEVELOPMENT IMPACT 2. Monetary Aggregates and Procyclicality of the Financial System: An Asian Perspective Joon-Ho Hahm, Hyun Song Shin and Kwanho Shin 3. Non-Core Bank Liabilities and Vulnerability to Crisis: Implications for Asia Joon-Ho Hahm, Hyun Song Shin and Kwanho Shin 4. Monetary Aggregates and Global Liquidity: Evidence from Individual Firm Data from Asia Hyun Song Shin and Laura Yi Zhao 5. Economy-Wide Vulnerability in Asia: Flow-of-Fund Analysis Iwan J. Azis and Damaris Yarcia PART III ISSUES AND CHALLENGES ON LEGAL AND INSTITUTIONAL FRAMEWORK FOR EMERGING ASIA 6. Addressing Systemic Risk in East Asia: Financial Regulatory Design Rolf H. Weber, Douglas W. Arner, Evan C. Gibson and Simone Baumann 7. Financial Innovation and Development in East Asia: Balancing Risks and Opportunities Ross P. Buckley, Douglas W. Arner and Michael Panton 8. Implications of Global Financial and Regulatory Policies on Systemic Risk in Asia Fariborz Moshirian PART IV FINANCIAL INTEGRATION AND COOPERATION TO SUPPORT FINANCIAL STABILITY 9. Equity Home Bias, Financial Integration, and Regulatory Reforms: Implications for Emerging Asia Cyn-Young Park and Rogelio V. Mercado, Jr. 10. Regional Financial Arrangements: Lessons from the Eurozone Crisis for East Asia Emilios Avgouleas, Douglas W. Arner and Uzma Ashraf 11. The Role of Deposit Insurance in Financial Stability: Issues and Options in ASEAN + 3 A. Michael Andrews 12. Effective Resolution Regimes for Financial Institutions in ASEAN + 3 A. Michael Andrews 13. Capital Structure and the Issuance of Corporate Bonds in Emerging Asia Paul Mizen, Frank Packer, Eli Remolona and Serafeim Tsoukas PART V FINANCIAL SUPERVISION AND DEVELOPMENT CHALLENGES IN ASIA 14. Financial Monitoring in the New ASEAN-5 Countries Se Hee Lim and Noel Reyes 15. Financial Inclusion and Regulatory Implications Qifeng Zhang and Josephine Valle-Sison 16. Innovative Financing Modalities for SMEs and the Regulatory Implications Shigehiro Shinozaki 17. Global Financial Regulatory Trends and Challenges for the Development of the Insurance and Pensions Sector in the Asia-Pacific Region Arup Chatterjee 18. Impact of the Global Financial Crisis on Trade Finance in Asia and Cooperation that Reduced the Impact Steven Beck Index
