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The Role of State Intervention in the Financial Sector : Crisis Prevention, Containment, and Resolution
Cho, Yoon Je - East Asian Bureau of Economic Research (EABER) - 2010
This paper discusses the role of state intervention for prevention, containment, and resolution of financial crises based mainly on the Korean experience during the 1997 Asian financial crisis. Crises in emerging market and developing economies tend to be more complicated than those faced by...
Persistent link: https://www.econbiz.de/10009363798
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Why India choked when Lehman broke
Patnaik, Ila; Shah, Ajay - East Asian Bureau of Economic Research (EABER) - 2010
India has an elaborate system of capital controls which impede cap- ital mobility and particularly short-term debt. Yet, when the global money market fell into turmoil after the bankruptcy of Lehman Broth- ers on 13/14 September 2008, the Indian money market immediately experienced considerable...
Persistent link: https://www.econbiz.de/10009363877
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Financial Crisis as a Catalyst of Legal Reforms : The Case of Asia
Kawai, Masahiro; Schmiegelow, Henrik - East Asian Bureau of Economic Research (EABER) - 2013
This paper discusses how financial crises in emerging Asia and Japan worked as catalysts for legal reforms. The responses of six Asian countries with different legal histories to financial crises that posed similar challenges are of both legal and economic interest. We first provide a...
Persistent link: https://www.econbiz.de/10011134347
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Financial Crisis as a Catalyst of Legal Reforms : The Case of Asia
Kawai, Masahiro; Schmiegelow, Henrik - East Asian Bureau of Economic Research (EABER) - 2013
This paper discusses how financial crises in emerging Asia and Japan worked as catalysts for legal reforms. The responses of six Asian countries with different legal histories to financial crises that posed similar challenges are of both legal and economic interest. We first provide a...
Persistent link: https://www.econbiz.de/10011134390
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The Role of Trade Credit for Small Firms : An Implication from Japan’s Banking Crisis
Fukuda, Shin-ichi; Kasuya, Munehisa; Akashi, Kentaro - East Asian Bureau of Economic Research (EABER) - 2007
The purpose of this paper is to investigate the role of trade credit during the banking crisis in Japan. Trade credit … mainly on the substitution of bank loans for trade credit during monetary tightening among many firms, but in this paper we … investigate the role of trade credit during the banking crisis. The basic motivation is to explore whether the substitution …
Persistent link: https://www.econbiz.de/10009363880
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The Role of Macroprudential Policy for Financial Stability in East Asia’s Emerging Economies
Park, Yung Chul - East Asian Bureau of Economic Research (EABER) - 2011
This paper analyzes the role and scope of macroprudential policy in preventing financial instability in the context of East Asian economies. It analyzes the behavior of the housing market in a dynamic setting to identify some of the factors responsible for the volatility of housing markets and...
Persistent link: https://www.econbiz.de/10009653160
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The Role of Macroprudential Policy for Financial Stability in East Asia’s Emerging Economies
Park, Yung Chul - East Asian Bureau of Economic Research (EABER) - 2011
This paper analyzes the role and scope of macroprudential policy in preventing financial instability in the context of East Asian economies. It analyzes the behavior of the housing market in a dynamic setting to identify some of the factors responsible for the volatility of housing markets and...
Persistent link: https://www.econbiz.de/10009653204
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The Role of Macroprudential Policy for Financial Stability in East Asia’s Emerging Economies
Park, Yung Chul - East Asian Bureau of Economic Research (EABER) - 2011
This paper analyzes the role and scope of macroprudential policy in preventing financial instability in the context of East Asian economies. It analyzes the behavior of the housing market in a dynamic setting to identify some of the factors responsible for the volatility of housing markets and...
Persistent link: https://www.econbiz.de/10009653225
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Market Failures and Regulatory Failures : Lessons from Past and Present Financial Crises
Acharya, Viral V.; Cooley, Thomas; Richardson, Matthew; … - East Asian Bureau of Economic Research (EABER) - 2011
The paper analyzes the financial crisis of through the lens of market failures and regulatory failures. We present a case that there were four primary failures contributing to the crisis : excessive risk-taking in the financial sector due to mispriced government guarantees; regulatory focus on...
Persistent link: https://www.econbiz.de/10011278053
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Market Failures and Regulatory Failures : Lessons from Past and Present Financial Crises
Acharya, Viral V.; Cooley, Thomas; Richardson, Matthew; … - East Asian Bureau of Economic Research (EABER) - 2011
The paper analyzes the financial crisis of through the lens of market failures and regulatory failures. We present a case that there were four primary failures contributing to the crisis : excessive risk-taking in the financial sector due to mispriced government guarantees; regulatory focus on...
Persistent link: https://www.econbiz.de/10011278152