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With contributions from academics and economists from around the world, this book examines the economies of Asia and the Pacific with reference to financial reform and liberalization, monetary policy frameworks, banking and capital markets, regulation and supervision and macroeconomic policies. Further, it asks what lessons have been learned from both the Asian financial crisis and the recent financial crisis, how to ensure financial stability in the region, and how to ensure that the benefits of economic growth and financial development are reach all members of society.
List of contents
1. Introduction: Financial development in Asia—work in progress 2. Financial development and economic growth: the long view 3. Is Basel III enough for macroprudential policy in Asia and the Pacific? 4. Capital market development in the Asia–Pacific region 5. Monetary policy in Asia and the Pacific in the post-, post-crisis era 6. The Chiang Mai Initiative and the future of East Asian regional macroeconomic and financial cooperation 7. Financial development in Asia: beyond aggregate indicators 8. China’s capital account liberalization 9. Use of national currencies for trade settlement in East Asia: a proposal
About the author
Edward K. Y. Chen is a Distinguished Fellow at the Hong Kong Institute for Humanities and Social Sciences, University of Hong Kong and board member at the Hong Kong Institute for Monetary Research.
Wendy Dobson is an Adjunct Professor and Co-Director for the Institute of International Business at the University of Toronto, Canada and former Canadian Associate Deputy Minister of Finance.
