The reform in Asian financial sectorsaespecially in banking and stock marketsahas been remarkable since the currency crisis of 1997a98. East Asia is now a major player in international finance, providing serious competition to the more traditional financial centers of London and New York. Financial Sector Development in the Pacific Rim provides a rich collection of theoretical and empirical analyses of the growing capital markets in the region. Bringing together authors from various East Asian and Pacific nations, this volume examines the institutional factors influencing financial innovation, the consequences of financial development, widespread consolidation occurring through mergers and acquisitions, and the implementation of policy reform. Financial Sector Development in the Pacific Rim offers the comparative analysis necessary to answer broad questions about economic development and the future of Asia.But much less is known of a smaller Korean financial crisis that occurred in 2003 as a result of a bust in the credit card market. ... Park attributes the increase in household debt to financial deregulation and a paradigm shift in the financial industry that began to place more ... III: Financial Consolidation Using financial markets to consolidate activity in the real economy is a topic of perennial interest, butanbsp;...
|Title||:||Financial Sector Development in the Pacific Rim|
|Author||:||Takatoshi Ito, Andrew K. Rose|
|Publisher||:||University of Chicago Press - 2009-05-15|