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no comparable political and legal integration. Nevertheless, Asia can draw useful lessons from European experiences in …
Persistent link: https://www.econbiz.de/10011561790
I analyze the risks in the banking systems in East Asia using the standard supervisory framework, which assesses … tests indicate that the largest banking systems in East Asia have a total of almost US$1.2 trillion in Tier 1 capital and a …
Persistent link: https://www.econbiz.de/10003901398
As Asia considers greater harmonization and integration of its financial systems, it would be well-advised to consider … formally as a lender of last resort in a financial crisis. Europe's experiences should not dissuade Asia from seeking … appropriate further harmonization and integration. However, they do argue strongly for Asia to take the kind of careful, step …
Persistent link: https://www.econbiz.de/10010242041
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/10009632677
Northeast Asia - the People's Republic of China (PRC), the Republic of Korea, and Japan ‒ in responding to financial crises. The … difficulties revealed in the crisis, while Northeast Asia (and in fact ASEAN+3) is a model of nonintegration with a limited set of …
Persistent link: https://www.econbiz.de/10012219782
The Japanese government's response to the financial crisis in the 1990s was late, unprepared and insufficient; it failed to recognize the severity of the crisis, which developed slowly; faced no major domestic or external constraints; and lacked an adequate legal framework for bank resolution....
Persistent link: https://www.econbiz.de/10003983441
Japan's "two lost decades" perhaps represent an extreme example of a weak recovery from a financial crisis, and are now referred to as "Japanization." More recently, widespread stagnation in advanced economies in the wake of the global financial crisis led to fears that Japanization might spread...
Persistent link: https://www.econbiz.de/10009771825
Does a shortage of safe assets sow the seeds of instability in a financial system? This paper empirically explores the hypothesis of safe asset shortage-induced excess credit booms and financial instability. As an alternative step forward from the assumption of growth- or wealth-based demands...
Persistent link: https://www.econbiz.de/10012253869
The People's Republic of China (PRC) is beginning a new wave of financial liberalization, which is necessary to support strong economic growth, but will financial liberalization lead to major financial crises, as happened in many middle-income countries? The empirical examinations conducted in...
Persistent link: https://www.econbiz.de/10011804485
Free trade agreements (FTAs) have proliferated in East Asia in recent years. As of December 2008, eight bilateral FTAs … pressing issue for Japanese firms because Japanese firms have expanded overseas, particularly into the rest of Asia, which has … contributed to the formation of production networks in East Asia. There have been numerous ex ante studies on the impacts of FTAs …
Persistent link: https://www.econbiz.de/10003901391