Rising to the Challenge in Asia: A Study of Financial Markets: Volume 1 - An Overview
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Hardcopy price: $20.00 ISBN: 971-561-240-7
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(Publication Date: November 2000)
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The Asian currency and financial crisis has had far-reaching effects on the regional economies and their trading partners. These effects have threatened to wash away the region's significant social and economic advances achieved during the preceding years of rapid growth.
The crisis has also unveiled many intricate problems and challenges in macroeconomic management, banking and capital markets management, institutional capacity, and governance of the financial systems in the region. 1999. 174 pages.
Country specific studies in this series are also available. Refer to the box below.
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Foreword, Preface, Contents, and Acrononyms and Abbreviations [ PDF: 25kb | 10 pages ]
The East Asian Crisis: Macroeconomic Policy Design and Sequencing Issues[ PDF: 689kb | 48 pages ]
SUMMARY
INTRODUCTION
Causes of the East Asian Crisis
Summary and Implications
POLICY ISSUES: DESIGN AND SEQUENCING OF POLICIES AND EFFECTS
Orthodox Monetary and Fiscal Tightening
Exchange-Rate Policies
Capital-Account Liberalization and Capital Controls
Banking Sector Reform
Sluggish Exports and International Capital Flows
POLICIES IMPLEMENTED BY THE AFFECTED COUNTRIES
MAJOR POLICY RECOMMENDATIONS FOR THE AFFECTED COUNTRIES
Monetary Policy: Dealing With the Credit Crunch
Fiscal Stimulus
Financing the Fiscal Deficits
Exchange-Rate Management
Capital-Account Liberalization and Capital Controls
Export Stimulus
Regional and International Efforts
LESSONS FOR THE VULNERABLE COUNTRIES
SUMMARY AND CONCLUSION
NOTES
REFERENCES
In the Eye of the Asian Financial Maelstrom: Banking Sector Reforms
in the Asia-Pacific Region [ PDF: 577kb | 58 pages ]
SUMMARY
INTRODUCTION
POLICY ISSUES
Balance Between Developmental Role and Commercial Orientation of Banks
Resolution of Nonperforming Loans and Restructuring of the Banking Sector
Enhancement of Prudential Regulation and Supervision
Strengthening of Financial Sector Infrastructure and Human Resources
RECOMMENDATIONS
Maximize the Commercial Orientation of Banks
Implement a Comprehensive and Swift Restructuring Program
Strengthen Bank Regulation and Supervision
Develop Further the Infrastructure and Human Resources of the Banking Industry
CONCLUSION
NOTES
REFERENCES
APPENDIXES
Rising to Asia’s Challenge: Enhanced Role of Capital Markets [ PDF: 518Ökb | 68 pages ]
SUMMARY
INTRODUCTION
State of Development of the Bond Markets
Corporate Governance
Regulatory and Supervisory Arrangements
Investor Base
Equity-Market Infrastructure
Market Volatility Controls
POLICY ISSUES
Development of Long-Term Bond Markets
Improvement of Corporate Governance
Reinforcement of Regulatory and Supervisory Arrangements
Expansion of the Investor Base
Further Improvement of Equity-Market Infrastructure
Re-evaluation of Market Volatility Controls
MAJOR POLICY RECOMMENDATIONS
Development of Bond Markets
Improvement of Corporate Governance
Reinforcement of Regulatory and Supervisory Arrangements
Expansion of the Investor Base
Further Improvement of Equity-Market Infrastructure
Re-evaluation of Market Volatility Controls
LOOKING FORWARD
NOTES
REFERENCES
APPENDIX
All rights reserved
First published August 2000
The views and interpretations in this Report do not necessarily reflect those of the Asian Development Bank.
ISBN 971-561-240-7
Publication Stock No. 061099
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