Capital Markets in Asia: Changing Roles for Economic Development

Capital Markets in Asia: Changing Roles for Economic Development
Date of publication:  2005
Publisher:  Institute of Southeast Asian Studies
Number of pages:  282
Code:  OAB1

About the publication

The content was prepared by researchers from leading think-tanks in ten East Asian economies (the AT10) covering the aspect of capital market development that they saw as most significant to their home economy.
          In many economies in the region, financing start-up firms in dynamic industries such as ICT has become a major issue. The banking system, which dominates financing in East Asia, is not well suited to this task, and in some economies it is also plagued with massive non-performing loans. In many ways, capital market financing meets the needs of East Asian economies to support their future industrial development. It offers a substitute for the ailing banking system. In addition, greater reliance by East Asian firms on capital markets may strengthen their competitiveness by stabilizing access to funds for growth and improving corporate governance. And, since capital markets provide start-up as well as growth financing, a greater role for capital markets in the region will support the emergence of indigenous firms. Finally the increased requirements for financial information that emerge with the development of capital markets will drive the formation of an information infrastructure in the region.
All Open Access titles may be downloaded free of charge; simply click on the "Download" link below.


Similar Publications