This path-breaking comparative study of the economies of Japan, Korea, and Taiwan analyzes the evolution of the financial systems of each country in relation to their last four decades of dynamic economic growth. Each country study is addressed in two chapters, the first covering macroeconomic aspects of the financial system and the second chapter focusing on commercial banking. The analysis shows how financial development has occurred in two distinct phases. Initially interest rates were regulated to remain below market levels, entry of new financial institutions was restricted, financial...
This path-breaking comparative study of the economies of Japan, Korea, and Taiwan analyzes the evolution of the financial systems of each country in r...
Several years before the 1997-98 Asian financial crisis, most East Asian economies with the exception of China had engaged in the liberal reform prescriptions of the Washington Consensus. The Asian financial crisis added impetus to the transformation process as the crisis countries accepted the Washington Consensus as part of their commitment to the IMF policy conditionality. In this book the author argues for the continuing validity of an 'East Asian' model of economic development that differs distinctly from the Washington Consensus. He argues that, while this model was undermined to...
Several years before the 1997-98 Asian financial crisis, most East Asian economies with the exception of China had engaged in the liberal reform presc...
This volume provides an overview of exchange rate policies in the growth economies of East and Southeast Asia. The contributors provide theoretical material, compare national policies across the region, and study the national experiences in countries including Korea, Singapore, Taiwan and Thailand. This study further explores the implications of Asian exchange rate policies for the world economy, providing regional, global and historical perspectives on Asian monetary relations.
This volume provides an overview of exchange rate policies in the growth economies of East and Southeast Asia. The contributors provide theoretical ma...
The rise of Asia, and China specifically, is the single most important force reshaping the world economy at the beginning of the 21st century. From a low of 20 per cent in 1950, Asia's share of global GDP has now risen to 33 per cent and will exceed 40 per cent within a generation if current forecasts are realized. Asia's growing weight in the world economy is elevating it to a central position in global economic and financial affairs. The potential global impact of this astonishing growth is far reaching, from oil markets and the environment to a reshaping of trade relations in the current...
The rise of Asia, and China specifically, is the single most important force reshaping the world economy at the beginning of the 21st century. From a ...
Several years before the 1997-98 Asian financial crisis, most East Asian economies with the exception of China had engaged in the liberal reform prescriptions of the Washington Consensus. The Asian financial crisis added impetus to the transformation process as the crisis countries accepted the Washington Consensus as part of their commitment to the IMF policy conditionality. In this book the author argues for the continuing validity of an 'East Asian' model of economic development that differs distinctly from the Washington Consensus. He argues that, while this model was undermined to...
Several years before the 1997-98 Asian financial crisis, most East Asian economies with the exception of China had engaged in the liberal reform presc...
This book looks at East Asia's monetary and financial integration from both Asian and European perspectives. It analyzes the Euro area's framework for monetary policy implementation, introduced in 1999. It reviews the efforts to foster regional monetary and financial integration and relates them to Europe's own evolution. It highlights successes and failures in both cases and offers a careful assessment of the state of play. A central theme of the volume is that the East Asian reliance on markets is not enough to promote the kind of deep integration that Europe has achieved and that provides...
This book looks at East Asia's monetary and financial integration from both Asian and European perspectives. It analyzes the Euro area's framework for...
This book aims to identify and analyze the impact of the 2007-09 global financial crisis on Asian economies and to assess the short-term and longer-term policy responses to the crisis in terms of their effectiveness and sustainability. It draws lessons on how best to avoid and/or mitigate future crises and to identify structural policy recommendations that can help guide Asian policymakers to expand the growth potential of domestic and regional demand in coming years, and thereby create a basis for sustainable and inclusive long-term growth. Organized into four parts, it offers an...
This book aims to identify and analyze the impact of the 2007-09 global financial crisis on Asian economies and to assess the short-term and longer-te...
Chalongphob Sussangkarn Yung Chul Park Sung Jin Kang
This book covers nine countries of ASEAN and the East Asian area, including major Asian countries, and compares their respective policies to attract Foreign Direct Investments (FDI). Through comparative study of FDI promotion policies, this book will give policy makers in the area of FDI promotion an overview and comparison of the FDI policies of other countries. In addition, researchers at graduate, post-graduate or professional level will gain from the econometric methodology and detailed definitions of various spillover effects (horizontal and vertical), which will be beneficial to their...
This book covers nine countries of ASEAN and the East Asian area, including major Asian countries, and compares their respective policies to attract F...
South Korea has been held out as an economic miracle--as a country that successfully completed the transition from underdeveloped to developed country status--and as an example of how a middle-income country can continue to move up the technology ladder into the production and export of more sophisticated goods and services. But with these successes have come challenges, among them poverty, inequality, long work hours, financial instability, and complaints about the economic and political power of the country's large corporate conglomerates, or chaebol.
The Korean...
South Korea has been held out as an economic miracle--as a country that successfully completed the transition from underdeveloped to developed coun...
Korea was the first non-G7 member and Asian country to host the recent G20 Summit, acting as a bridge between advanced and developing nations. At the G20 Seoul Summit, green growth as well as development and a global financial safety net were on the agenda. Against this backdrop, the aim of this book is to comment on and suggest how to go about setting agendas and shaping further discussions of future summits.
The book consists of three major parts: the first part discusses the role of G20 in reforming international monetary system, the status of the IMF since the European...
Korea was the first non-G7 member and Asian country to host the recent G20 Summit, acting as a bridge between advanced and developing nations. At t...
