East Asia's Financial Systems: Evolution and Crisis

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About the Publication

Financial systems in the East Asian region are commanding worldwide attention. Japan's financial sector, with an ailing banking system in the aftermath of a bubble economy, is undergoing a "Big Bang" deregulation, liberalization, and securitization. At the same time, the rehabilitation of Southeast Asian and Korean economies in the wake of the Asian financial crisis awaits restoration of their banking sectors. The region's bank-dominated and development finance-oriented financial systems are coming into friction with global capital markets that lack adequate architecture. In this volume, researchers from ten East Asian think- tanks analyse the financial systems in their respective economies. They survey the financial sector deregulation and liberalization that took place in the midst of economic booms and they evaluate the role of the financial systems in the region's current economic misfortunes. Together, the pieces in this volume lay the groundwork for understanding how financial systems in East Asia have evolved as the economies have grown more complex and capital markets have globalized, and how these systems must adapt to move beyond today's crisis to serve the region's economies in the future.

Co-publication: ISEAS / NRI

Institute of Southeast Asian Studies / Nomura Research Institute


Preliminary pages
1. Introduction: The Evolution of Financial Systems in East Asia and their Responses to Financial and Economic Crisis, by Seiichi Masuyama, contributor
2. Thailand's Financial Evolution and the 1997 Crisis, by Pakorn Vichyanond, Yos Vajragupta, contributors
3. The Financial Crisis in Indonesia, by Anwar Nasution, contributor
4. Financial System Restructuring in Korea: The Crisis and Its Resolution, by Joon-Ho Hahm, contributor
5. Evolution of the Malaysian Financial System beyond the Financial Crisis, by Ong Hong Cheong, contributor
6. Evolution of the Philippine Financial System, by Victor A Abola, contributor
7. The Financial Sector and Economic Development in Hong Kong: Implications for Developing Countries, by Raymond Ng (HK), Edward K Y Chen , contributors
8. Developing the Financial Services Industry in Singapore, by Manuel F Montes, contributor
9. Evolution of Taiwan's Financial System, by Jia-Dong Shea, Ya-Hwei Yang, contributors
10. Reform and Development of China's Financial System, by Zhang Chenghui, contributor
11. Can the 'Big Bang' Cure the Ills of Japan's Financial System?, by Yukihiko Endo, contributor

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