The Future Of Asian Finance

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Overview

Asia's financial systems proved resilient to the shocks from the global financial crisis, and growth since then has been strong. But new challenges have emerged in the region's economies, including demographics and aging, the need to diversify from bank-dominated systems, urbanization and infrastructure, and the rebalancing of economic activity. This book takes stock of how systems in Asia's advanced and emerging market economies compare with the rest of the world and how reforms to develop equity and bond markets have progressed. It then looks forward at how Asian financial systems will evolve in complexity and interconnectedness and what this means for the regional financial centers of Hong Kong SAR and Singapore. Finally, it looks at how the region's demographic dividend can be harnessed to finance infrastructure, the state of economic and financial integration in ASEAN, the role of capital flows, and how changes to global regulatory regimes will affect Asian financial systems. The International Monetary Fund (IMF) is an organization of 188 countries working to foster global monetary cooperation, secure financial stability, facilitate international trade, promote high employment and sustainable economic growth, and reduce poverty around the world.

Product Details

ISBN-13: 9781498317191
Publisher: International Monetary Fund
Publication date: 08/15/2015
Edition description: New Edition
Pages: 176
Product dimensions: 6.06(w) x 9.01(h) x 0.77(d)

Table of Contents

Foreword v

Contributors vii

Part I The Structure of Finance in Asia 1

1 Introduction Ratna Sahay Jerald Schiff Cheng Hoon Lim Chikahisa Sumi 3

2 A Bird's-Eye View of Finance in Asia Heedon Kang Phakawa Jeasakul Cheng Hoon Lim 9

3 Are There Crouching Tigers and Hidden Dragons in Asia's Stock Markets? Fabian Lipinsky Li Lian Ong 39

4 Bond Markets: Are Recent Reforms Working? Mangal Goswami Andreas Jobst Shanaka J. Peiris Duiani Seneviratne 59

Part II Where Is Asia Going? 105

5 Is Asia Still Resilient? Phakawa Jeasakul Cheng Hoon Lim Erik Lundback 107

6 The Future of Asia's Financial Sector Rina Bhattacharya Fei Han James P. Walsh 129

7 Hong Kong SAR and Singapore as Asian Financial Centers-Complementarity and Stability Vanessa le Leslé Franziska Ohnsorge Minsuk Kim Srikant Seshadri 149

Part III Challenges Ahead 175

8 Asia's Demographic Changes and Infrastructure Needs: How Can the Financial Sector Address These Challenges? Ding Ding W. Raphael Lam Shanaka J. Peiris 177

9 ASEAN Financial Integration: Harnessing Benefits and Mitigating Risks Geert Almekinders Alex Mourmouras Jade Vichyanond Yong Sarah Zhou Jianping Zhou 203

10 Capital Flows: A Prospective View Edda Zoli Sergei Dodzin Wei Liao Wojciech Maliszewski 235

11 Operating within the New Global Regulatory Environment Rina Bhattacharya James P. Walsh Aditya Narain 265

Index 289

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