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Developing regional financial markets – the case of East Asia
[working paper]
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 ... view more
"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)... view less
Keywords
financial system; financial market; Asia; growth; quantity; regional integration; finance; banking; credit institution; Far East
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 providerThis metadata entry was indexed by the Special Subject Collection Social Sciences, USB Cologne