Bibliographic Information

Financial globalization and regionalism in East Asia

edited by Takuji Kinkyo, Yoichi Matsubayashi, and Shigeyuki Hamori

(Routledge studies in the modern world economy, 124)

Routledge, 2014

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Includes bibliographical references and index

Description and Table of Contents

Description

With increased resilience in the financial systems, emerging Asian economies were less affected by the recent global financial crisis, recovering more quickly from the crisis than major advanced economies. Yet, Asian financial systems remain underdeveloped. More open and efficient financial systems continue to be a key priority for Asia's development strategy. Emerging Asian economies need to tackle the new challenges to macroeconomic and financial stability posed by financial globalisation. This book identifies the key challenges to Asia's financial development in an era of rapid financial globalisation and discusses their policy implications for financial reforms and regional cooperation in East Asia. Particular areas of focus include: the impact of financial globalisation on economic stability and inequality in East Asian economies; the progress of Asia's regional financial cooperation and lessons from the recent European economic crisis; and the priority of financial reforms in individual Asian economies. Combining advanced econometric methods and in-depth case studies, this book provides rigorous and contextual analyses of the most critical issues for Asia's financial development. It offers a comprehensive and useful guide for students, academics, and policymakers interested in the current state and future prospects of Asian financial systems.

Table of Contents

Introduction, by Takuji Kinkyo, Yoichi Matsubayashi and Shigeyuki Hamori 1. Financial Liberalization and Income Inequality in Asia, by Fengbao Yin and Shigeyuki Hamori 2. Financial Integration, Capital Flows and Macro-Prudential Policy in East Asia, by Shigeto Kitano and Yoichi Matsubayashi 3. Sources of Economic Fluctuations in Asia: Evidence from a Panel VAR, by Yuki Toyoshima and Shigeyuki Hamori 4. Chiang Mai Initiative: Progress and Lessons from the Euro Crisis, by Takuji Kinkyo 5. Asian Bond Markets Initiative: The Way Forward, by Satoshi Shimizu 6. ASEAN Capital Market Integration: Progress and Challenges, by Atsushi Kamio 7. Opportunities and Challenges Facing Japanese Banks in Expanding Overseas, by Tetsuo Fujita 8. Financial Reform and Economic Rebalancing in China, by Eiichi Sekine 9. Financial Development: The Case of Indonesia, by Miki Hamada

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