Financial Markets And Policies In East Asia (routledge Studies In The Growth Economies Of Asia) (volume 31)

While the financial crisis in East Asia could be said to be on the wane in some countries, the reconstruction process in the aftermath and the debate about the financial policies best suited to the region still rages on. This book examines both of these processes in authoritative detail.It includes critical assessment of: \* the post-crisis state of financial markets\* the banking and corporate restructuring process, with special focus on Indonesia\* the policy debates currently going on in East Asia, including monetary policy; exchange rate systems and the scope for financial cooperation\* East Asia's debt and equity marketsThe well-respected contributors including Claudio Borio, Hae Wang Chung, Guy Debelle, Reuven Glick, Robert McCauley and Eisuke Sakakibara, have produced a book that will be influential around the world. Book Cover......Page 1 Half-Title......Page 2 Title......Page 6 Copyright......Page 7 Contents......Page 8 Figures......Page 10 Tables and boxes......Page 12 Contributors......Page 16 Preface......Page 18 Abbreviations......Page 19 1 Debating financial markets and policies in East Asia......Page 22 2 Recent developments in Asian financial markets......Page 36 3 Patterns of bank intermediation and structure: a Korean perspective......Page 50 4 Private capital flows in East Asia: boom, bust and beyond......Page 65 5 Bank and corporate restructuring in crisis-affected East Asia: from systemic collapse to reconstruction......Page 102 6 The boom, bust and restructuring of Indonesian banks......Page 140 7 Financial market liberalisation and economic stability in China......Page 173 8 Securing consistency in macroeconomic policy......Page 185 9 Fixed or floating: is it still possible to manage in the middle?......Page 216 10 The viability of inflation targeting for emerging market economies......Page 252 11 Comparing monetary policy operating procedures in Indonesia, Korea, Malaysia and Thailand......Page 269 12 Does a formal common-basket peg in East Asia make economic sense?......Page 302 13 Subregional currency union-Japan and Korea......Page 330 14 An Australia-New Zealand currency union......Page 340 Index......Page 351 While the financial crisis in East Asia could be said to be on the wane in some countries, the reconstruction process in the aftermath and the debate about the financial policies best suited to the region still rages on. This book examines both of these processes in authoritative detail. It includes critical assessment of: * the post-crisis state of financial markets * the banking and corporate restructuring process, with special focus on Indonesia * the policy debates currently going on in East Asia, including monetary policy; exchange rate systems and the scope for financial cooperation * East Asia's debt and equity markets The well-respected contributors including Claudio Borio, Hae Wang Chung, Guy Debelle, Reuven Glick, Robert McCauley and Eisuke Sakakibara, have produced a book that will be influential around the world The financial crisis in East Asia started in July 1997 hut was over by October 1998, when the crisis shifted to the United States and Latin American emerging markets following Russia's debt default and the near-collapse of the US hedge fund, Long-Term Capital Management. This book assesses the need to secure policy consistency, the scope for inflation targeting, the sustainability of exchange rate regimes and the scope for deeper financial integration in the Australasian area Edited By Gordon De Brouwer. Includes Bibliographical References And Index.