Introduction -- Asia's development model -- Finance in Asia -- Challenges to development & finance -- Financial systems & practice -- Institutional foundations of finance -- Credit risk & commercial banking -- Investment banking & financial innovation -- Debt securities, derivatives & complex...

This volume comprises studies by leading research scholars in the United States and Asia on Asia's debt capital markets. The book is unique in drawing upon the research, experience and perspectives of experts from the academic, legal, governmental and practical investment fields. They assess the...

Using municipal cities during China’s reform era as the setting, we investigate how different aspects of financial development affect resource misallocation in an integrated framework. Using different identification strategies, we find that local government-driven finance exacerbates the...