Financial Liberalization in Asia
Subtitle: Analysis and Prospects
Contributors: Organisation for Economic Co-operation and Development. Development Centre (Corporate Author); Asian Development Bank (Corporate Author); Douglas H. Brooks (Editor); Monika Queisser (Editor)
Publisher: Organization for Economic Cooperation & Devel
Published: March 8, 1999
Language: eng
Format: Paperback
Number of pages: 199
ISBN-13: 9789264169746
Subjects: Development economics; Transitional economies; Politics / Current Events; Congresses; Asia; Public Finance; Reference; Politics - Current Events; Politics/International Relations; International Relations - General; Development - Economic Development; Finance; Yearbooks & Annuals; Capital market
Description: Rapid globalisation 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 has demonstrated the urgent need to rethink the sequencing and comprehensiveness of financial liberalisation. 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 liberalisation? And what role should international organisations and the private sector play in crisis resolution?This volume seeks to provide answers to these questions by discussing the roots of the Asian financial crisis and suggesting some constructive approaches to crisis resolution. It was produced jointly by the Asian Development Bank and OECD Development Centre based on their fourth joint annual Forum on Asian Perspectives.