The dynamics of Asian financial integration : facts and analytics
著者
書誌事項
The dynamics of Asian financial integration : facts and analytics
(Routledge studies in the modern world economy, [87])
Routledge, 2013, c2011
- : pbk
大学図書館所蔵 全1件
  青森
  岩手
  宮城
  秋田
  山形
  福島
  茨城
  栃木
  群馬
  埼玉
  千葉
  東京
  神奈川
  新潟
  富山
  石川
  福井
  山梨
  長野
  岐阜
  静岡
  愛知
  三重
  滋賀
  京都
  大阪
  兵庫
  奈良
  和歌山
  鳥取
  島根
  岡山
  広島
  山口
  徳島
  香川
  愛媛
  高知
  福岡
  佐賀
  長崎
  熊本
  大分
  宮崎
  鹿児島
  沖縄
  韓国
  中国
  タイ
  イギリス
  ドイツ
  スイス
  フランス
  ベルギー
  オランダ
  スウェーデン
  ノルウェー
  アメリカ
注記
Other editers: Philip R. Lane, Cyn-Young Park, Shang-Jin Wei
Includes bibliographical references and index
内容説明・目次
内容説明
The ongoing global financial crisis has manifested a remarkable degree of global financial integration-and its implications-for emerging Asian financial markets. The current crisis will not and should not deter the progress that the region has made toward financial openness and integration. However, events like this clearly demonstrate that financial liberalization and integration is not without risks.
Hence, emerging Asian economies' growing financial ties have motivated us to look closer at the repercussions of increased financial integration and evaluate the benefits of risk sharing and better access to international capital markets against the costs of cross-border financial contagion. The crisis also presents a timely opportunity for the region's policy makers to rethink their strategies for financial deregulation and liberalization and to reconsider a next step to integrate emerging East Asia's financial markets further. However, doing so requires deeper understanding of financial market integration. While much has been said in both academic and policy circles about financial globalization and regional financial integration as separate areas of study, existing research has been relatively silent on the dynamics between these two distinctive forces.
The book addresses this gap in financial literature and assesses financial integration in emerging East Asia at both regional and global levels. The publication studies the factors driving the progress of regional financial integration in relation to financial globalization and identifies the relevant policy challenges facing emerging market economies in the region. Chapters look into three broad aspects of regional and global financial market integration: (i) measurement of regional and global financial integration, (ii) understanding dynamics of regional financial integration versus global financial integration, and (iii) welfare implications from regional financial market integration amid financial globalization. Against this context, academics, policy makers, and other readers will appreciate the rigorous research contribution provided by the book.
目次
Executive Summary and Overview, Michael B. Devereux, Philip R. Lane, Cyn-Young Park and Shang-Jin Wei, Regional and Global Financial Integration: An Analytical Framework, Philippe Martin, International Capital Mobility of East Asian Economies: Is Domestic Investment Financed by Regional or Global Saving?, Soyoung Kim, Sunhyun Henry Kim and Cyn-Young Park, The Evolution of Regional and Global Risk Sharing of East Asian Economies, Pierfederico Asdrubali and Soyoung Kim, Regional and Global Drivers of the Portfolio Holdings of Asian Investors, Philip R. Lane, Regional and Global Short-Term Financial Market Integration in Asia: Evidence from the Interbank Markets under the Crises, Shin-ichi Fukuda, Stock Market Integration and Financial Contagion, Kee-Hong Bae, Stock Market Integration: Emerging East Asia's Experience, Marthe Hinojales and Cyn-Young Park, Global and Regional Financial Accelerator Integration, Woon Gyu Choi and David Cook, Financial Contagion and Vulnerability of Asian Financial Markets, Michael B. Devereux and James Yetman, Not All Financial Integration is Created Equal: The Composition Matters, Shang-Jin Wei, What Happened to the East Asian Business Cycle, Jean M. Imbs, Conclusion
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