Financial Liberalisation in Asia : Analysis and Prospects / Organisation for Economic Co-operation and Development and Asian Development Bank ; edited by Douglas H. Brooks and Monika Queisser

Format:

Book

Conference/Event

Government document

Author/Creator:

Organisation for Economic Co-operation and Development.

Contributor:

Brooks, Douglas H.

Queisser, Monika.

Asian Development Bank.

Conference Name:

International Forum on Asian Perspectives (4th : 1998 : Paris, France)

Series:

Development Centre Seminars, 20743750.

Language:

English

Subjects (All):

Finance--Asia--Congresses.

Finance.

Capital market--Asia--Congresses.

Capital market.

Physical Description:

1 online resource (200 pages)

Place of Publication:

Paris : OECD Publishing, 1999.

Language Note:

English

Summary:

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.

Contents:

Preface by Jean Bonvin and Mitsuo Sato

Welcoming Remarks by Jean Bonvin

Welcoming Remarks by Mitsuo Sato

Opening Address by Francis Mayer

Introduction by Monika Queisser

Part One: Dealing with the Asian Financial Crisis

The Asian Capital Account Crisis by Masaru Yoshitomi

Strengthening Financial Systems by Mario Draghi

Lessons from Hong Kong's Experience of the Crisis by Kumiharu Shigehara

Korea's Financial Crisis: Causes and Prospects by Soogil Young

Towards a New Approach to Freedom of Capital Movements and Capital Account Liberalisation? by Benoit Coeure

Current Issues and Concerns in the Philippines and ASEAN by Cayetano Paderanga

Financial Liberalisation in Asia: Analysis and Prospects by Klaus Regling

Part Two: Capital Flows and Stability

Asia's Financial Crisis: Is Financial Liberalisation the Villain? by Douglas H. Brooks and Soo-Nam Oh

Creation of Market-Based Financial Structures and Policy Instruments to Facilitate Increased Capital Mobility in the APEC Region by Paul M. Dickie and Marian Bond

The Role of Pension Funds in the Stabilisation of the Domestic Financial Sector by Monika Queisser

The Benefits of Trade and Investment Liberalisation: Financial Services by Pierre Sauve

Notes:

"This volume contains contributions from participants in the Fourth Conference of the International Forum on Asian Perspectives, entitled: Financial Liberalisation in Asia: Analysis and Prospects. The conference was held in Paris on 2 and 3 June 1998 ..."--P. 3.

Published also in French as: La libéralisation financière en Asia : analyses et perspectives.

Includes bibliographical references.

ISBN:

1-280-03048-8

9786610030484

92-64-17256-4

OCLC:

1024278194