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This paper discusses how financial crises in emerging Asia and Japan worked as catalysts for legal reforms. The …
Persistent link: https://www.econbiz.de/10010397205
This paper revisits the issue of exchange rate regimes in emerging Asia. It is divided into two main parts. The first … part compares de jure and de facto exchange rate regimes in Asia over the decade 1999–2009. The second part focuses on the …
Persistent link: https://www.econbiz.de/10013118316
aroused widespread concerns in Asia and elsewhere regarding its possible impact in terms of the weakening of the US dollar and …
Persistent link: https://www.econbiz.de/10013118317
This paper discusses the relevance of Basel III to Asian emerging markets. It reviews some of the proposed regulations of Basel III in order to evaluate their likely implications for, and their ability to enhance, the stability of the banking and financial system. This is followed by a...
Persistent link: https://www.econbiz.de/10013098838
Asia increased substantially in response to quantitative easing in the United States financial market. The results of this … study confirm the existence of the bank lending channel in Asia and emphasize the role of credit flows in transmitting … found that the overall spillover effect was large but differed significantly in Asia by types of borrowing firms, financing …
Persistent link: https://www.econbiz.de/10012966420
We estimate the response of Asian stock market prices to exogenous monetary policy shocks using a vector error correction model. In our paper, monetary policy transmits to stock market price through three routes: money by itself, exchange rate, and inflation. Our result points to the fact that...
Persistent link: https://www.econbiz.de/10013047914
no comparable political and legal integration. Nevertheless, Asia can draw useful lessons from European experiences in …
Persistent link: https://www.econbiz.de/10012966463
One of the reasons behind the financial crisis in 1997 was the excessive dependence of Asian economies on commercial banks for domestic financing. Banks were the major source of corporate financing because bond markets were underdeveloped and small. To enhance corporate bond financing, it is...
Persistent link: https://www.econbiz.de/10013122027
This paper focuses on the relevance to emerging economies of three major financial reforms following the global financial crisis of 2007 - 2009: (1) the improved capital requirements intended to reduce the risk of bank failure ("Basel III"), (2) the improved recovery and resolution regimes for...
Persistent link: https://www.econbiz.de/10010397203
This paper seeks to add to the current debate about financial development and growth in the emerging world by looking at how different financial systems evolve: how and why financial structures change during various stages of development, how best to measure them, and seeing what practical...
Persistent link: https://www.econbiz.de/10013132042