This paper assesses financial integration in Asia in terms of risk-sharing benefit versus financial-contagion cost. We … discount factors. Risk sharing is low in Asia, and varies across time and countries, whereas contagion risks are more … differentials. Asia, therefore, can potentially enhance risk sharing without raising contagion risk. …

This paper examines bank credit growth in emerging markets before, during, and after the 2008-09 financial crisis using … bank-level data, focusing on the role of bank ownership. Credit growth by foreign banks lagged behind that of domestic … banks in 2009 in Asia, and in 2010 in Latin America and emerging Europe. State-owned banks instead played a counter …

Asia proved to be remarkably resilient in the face of the global financial crisis, but why was its output performance … expansion, reliance on deposit funding, enhanced bank asset quality, reduced external financing, and improved current accounts … the global financial crisis. Looking ahead, Asia is in the process of adjusting to more volatile external conditions and …

The prolonged investment decline in post-Asian crisis emerging Asia, in contrast to the swift recovery of economic …

of a diversified non-bank investor base for securitization in Europe. …