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Developing regional financial markets – the case of East Asia

[working paper]

Pomerleano, Michael

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Further Details
Corporate Editor Deutsches Institut für Entwicklungspolitik gGmbH
Abstract "The paper explores the extent and benefits of financial integration in East Asia. It presents evidence that the extent of financial integration in East Asia is less extensive than the aggregate data suggests. The paper then addresses why some countries are integrated more than others and discusses the obstacles to regional financial integration. The paper points out that East Asia’s growth strategy has shaped bank centric financial systems. An important thesis presented in the paper is that reliance on bank-based intermediation has hindered financial integration. The prospects for regional financial integration would be improved greatly if governments would step back from the tradition of massive government involvement and allow market forces to play a greater role. The paper finally explores what can be done to improve the process of regional financial integration. A simple first step will be to harmonise the regulatory framework for non bank financial institutions." (author's abstract)
Keywords Far East; financial market; regional integration; financial system; finance; banking; growth; Asia; quantity; credit institution
Classification Political Economy; Public Finance
Method applied research; empirical
Document language English
Publication Year 2008
City Bonn
Page/Pages 24 p.
Series DIE Discussion Paper, 18/2008
ISBN 978-3-88985-406-3
Licence Deposit Licence - No Redistribution, No Modifications
data provider This metadata entry was indexed by the Special Subject Collection Social Sciences, USB Cologne