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Financial Liberalisation in Asia : Analysis and Prospects :  Analysis and Prospects - Organization for Economic Cooperation and Development (OECD)

Financial Liberalisation in Asia : Analysis and Prospects

Analysis and Prospects

Paperback

Published: February 1999
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Rapid globalization has brought substantial benefits to developing Asia, but it has also heightened the risks associated with policy mistakes, weak financial institutions, and problems in corporate and public governance. The 1997 Asian crisis demonstrated the urgent need to rethink the sequencing and comprehensiveness of financial liberalization. Would further opening of Asia's financial systems be helpful or counterproductive in fostering financial stability? What structural reforms do emerging economies need to undertake to ensure that capital inflows are transformed into productive investment? Which regulatory and other requirements would have to be attached to further financial liberalization? And what role should international organizations and the private sector play in crisis resolution? This volume provides answers to these questions by discussing the roots of the Asian financial crisis and suggesting several constructive approaches to crisis resolution. It is produced jointly by the Asian Development Bank and OECD Development Centre based on their fourth joint annual Forum on Asian Perspectives.

Prefacep. 7
Welcoming Remarksp. 9
Welcoming Remarksp. 13
Opening Addressp. 17
Introductionp. 19
The Asian Capital Account Crisisp. 27
Strengthening Financial Systemsp. 37
Lessons from Hong Kong's Experience of the Crisisp. 43
Causes and Implications of East Asian Financial Crisisp. 49
Korea's Financial Crisis: Causes and Prospectsp. 55
Towards a New Approach to Freedom of Capital Movements and Capital Account Liberalisation?p. 61
Current Issues and Concerns in the Philippines and ASEANp. 67
Financial Liberalisation in Asia: Analysis and Prospectsp. 73
Asia's Financial Crisis: Is Financial Liberalisation the Villain?p. 85
Creation of Market-Based Financial Structures and Policy Instruments to Facilitate Increased Capital Mobility in the APEC Regionp. 101
The Role of Pension Funds in the Stabilisation of the Domestic Financial Sectorp. 151
The Benefits of Trade and Investment Liberalisation: Financial Servicesp. 173
Programmep. 189
List of Authors and Participantsp. 195
Table of Contents provided by Blackwell. All Rights Reserved.

ISBN: 9789264169746
ISBN-10: 9264169741
Series: Development Centre Seminars
Audience: Professional
Format: Paperback
Language: English
Number Of Pages: 200
Published: February 1999
Publisher: Brookings Institution
Country of Publication: US
Dimensions (cm): 28.0 x 21.0  x 1.0
Weight (kg): 0.03