Download or read book The Monetary and Banking Development of Singapore and Malaysia written by Sheng-Yi Lee and published by Singapore University Press. This book was released on 1990 with total page 318 pages. Available in PDF, EPUB and Kindle. Book excerpt: The first edition of the book was published in 1974, and received a book award for best non-fiction in English presented by the National Book Development Council of Singapore in 1976, while the Second Edition published in 1986, saw much more econometric-statistical analysis. This Third Edition highlights the role of banking and finance in the economic development of Singapore and Malaysia; recent developments in Singapore and Malaysia are analysed; and special topics are presented in Epilogues 1 and 2.

Download or read book Monetary Policy Implementation in East Asia written by Frank Rövekamp and published by Springer Nature. This book was released on 2020-09-13 with total page 177 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book shares essential insights into the implementation of monetary policy in various East Asian countries. Highlighting case studies from China, Taiwan, Korea, Japan and Singapore, leading economists and practitioners from central banks illustrate how dependent effective monetary policy is on the institutional and financial market environment, as well as on successful implementation and communication. The respective contributions cover various aspects of monetary policy implementation, such as: How is inflation targeting handled? For what purposes and how do central banks operate on financial markets, and what are the (at times unintended) effects? How do currency market interventions help achieve the monetary policy targets set by individual countries or areas? In addition, Asian experiences are contrasted with those from the Eurozone.

Download or read book Monetary and Exchange System Reforms in China written by Mr.Bernard Laurens and published by International Monetary Fund. This book was released on 1996-09-26 with total page 108 pages. Available in PDF, EPUB and Kindle. Book excerpt: In 1978, China embarked on a gradual but far-reaching reform of its economic system. This paper focuses on the achievements so far in reforming the financial sector, the legal framework for financial transactions, the payments system, and the monetary policy and foreign exchange system. It also analyzes the tasks ahead to achieve the goals set in these areas for the year 2000.

Download or read book Asian Monetary Policy Forum The Insights For Central Banking written by Steven J Davis and published by World Scientific. This book was released on 2021-06-03 with total page 377 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Monetary Authority of Singapore, Asian Bureau of Finance and Economic Research, University of Chicago Booth Business School, and National University of Singapore Business School have organised the Asian Monetary Policy Forum (AMPF) annually since 2014. The Forum brings together eminent academics, policymakers and private sector economists to deliberate pressing monetary policy issues particularly relevant for Asian countries.This volume collects the inaugural speech and commissioned papers from the past Forums from 2014 to 2020. The chapters cover a range of topics that have assumed importance in the global monetary and financial system over the past twenty years. These include the efficacy of traditional monetary policy frameworks amid synchronised global financial flows, the challenges presented by the US dollar dominance, and the optimality of central banks' use of a broader set of policy instruments within an integrated policy framework. Policymakers, practitioners, students and academicians will be able to draw from this volume useful insights to understand these complex policy challenges.

Download or read book Resilience Dynamism Trust written by Monetary Authority of Singapore and published by Co-Published with World Scientific. This book was released on 2022 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Foreword: A Perennial Goal: Coupling Prudence with Innovation (Tharman Shanmugaratnam); MAS Leaders; List of Abbreviations; Evolution of a Central Bank: Establishing the Monetary Authority of Singapore (Hon Sui Sen); Why a Currency Board? (Goh Keng Swee); Prudence, Stability, Confidence: The Fundamentals of Good Government and Sound Central Banking (Goh Chok Tong); Macroeconomic Policies in Singapore: Principles, Milestones and Future Prospects (Richard Hu); Credibility, Confidence, Dynamism: MAS in the New Economic and Financial Landscape (Lee Hsien Loong); MAS at Forty: Past Contributions, Future Challenges (Lee Hsien Loong); Building Credibility (Tharman Shanmugaratnam); Monetary Policy and Reserve Management: How to Cope with Inflation with Particular Reference to Singapore (Michael Wong Pakshong); Which of the Monetary Aggregates Does MAS Watch? (Goh Keng Swee); Why a Strong Singapore Dollar? (Goh Keng Swee); Exchange Rate Policy: Philosophy and Conduct over the Past Decade (Teh Kok Peng and Tharman Shanmugaratnam); MAS Merges with Board of Commissioners of Currency, Singapore (Lim Hng Kiang); Asian Monetary Integration: Will It Ever Happen? (Tharman Shanmugaratnam); Getting in All the Cracks or Targeting the Cracks? Securing Financial Stability in the Post-Crisis Era (Ravi Menon); How Singapore Manages Its Reserves (Ravi Menon); Financial Regulation and Supervision: Supervision of a Regional Financial Centre (Michael Wong Pakshong); Regulation and Development of the General Insurance Industry (Law Song Keng); Strengthening the Framework for Banking Supervision (Goh Keng Swee); Recent Turbulence in the Stockbroking Industry and Lessons for Supervision (J Y Pillay); The Role of a Financial Futures Exchange (J Y Pillay); The Regulation and Development of Financial Markets (Richard Hu); Derivatives Trading and the Importance of Risk Management in Banks (Lee Ek Tieng); New Approach to Regulating and Developing Singapore's Financial Sector (Lee Hsien Loong); Financial Supervision in the New Millennium (Koh Yong Guan); Separation of Financial and Non-Financial Activities of Banking Groups (Lee Hsien Loong); Capital Markets in the New Economy (Lee Hsien Loong); Regulating the Capital Markets: Making Market Discipline Work (Tharman Shanmugaratnam); Consolidation and Liberalisation: Building World-Class Banks (Lee Hsien Loong); Deposit Insurance and Managing the Liberalisation Process (Lim Hng Kiang); Best Practices in Insurance Regulation (Lee Hsien Loong); Sensible Rules, Effective Supervision, Industry Partnership (Heng Swee Keat); Singapore's Approach to the Regulation of Capital Markets (Ravi Menon); Ensuring Strong Anchors in Our Banking System (Tharman Shanmugaratnam); Building a Culture of Trust in the Financial Industry (Ravi Menon); FinTech -- Harnessing its Power, Managing its Risks (Ravi Menon); Singapore's Financial Centre: Resilience, Dynamism, Trust (Ravi Menon); A Flexible Framework for the Regulation of Payment Systems and Payment Service Providers (Ong Ye Kung); Banking Liberalisation's Next Chapter: Digital Banks (Tharman Shanmugaratnam); Financial Centre Development: Development of Singapore as a Financial Centre (Hon Sui Sen); Inauguration of the Institute of Banking and Finance (Hon Sui Sen); Fund Management in Singapore: New Directions (Lee Hsien Loong); Building a Premier Exchange (Lee Hsien Loong); The Future of the Financial Sector in Singapore -- Riding the Challenges, Emerging Stronger (Goh Chok Tong); Key Issues in Asian Financial Markets (Tharman Shanmugaratnam); Singapore as a Global Insurance Marketplace (Ravi Menon); Building Capabilities for the Financial Sector of Tomorrow (Tharman Shanmugaratnam); Positioning for a Technology Driven Future (Heng Swee Keat); Singapore FinTech: Innovation, Inclusion, Inspiration (Ravi Menon); Green Finance for a Sustainable World (Ong Ye Kung); Harnessing the Power of Finance for a Sustainable Future (Ravi Menon)

Download or read book Monetary and Currency Policy Management in Asia written by Masahiro Kawai and published by Edward Elgar Publishing. This book was released on 2012-01-01 with total page 321 pages. Available in PDF, EPUB and Kindle. Book excerpt: Asian economies strengthened their monetary and currency management after the Asian financial crisis of 19971998, and came through the global financial crisis of 20072009 relatively well. Nevertheless, the recent global crisis has presented new challenges. This book develops recommendations for monetary and currency policy in Asian economies aimed at promoting macroeconomic and financial stability in an environment of global economic shocks and volatile capital flows. Monetary and Currency Policy Management in Asia draws lessons from crises and makes concrete macroeconomic policy recommendations aimed at minimizing the impacts of an economic and financial downturn, and setting the stage for an early return to sustainable growth. The focus is on short-term measures related to the cycle. The three main areas addressed are: monetary policy measures, both conventional and unconventional, to achieve both macroeconomic and financial stability; exchange rate policy and foreign exchange reserve management, including the potential for regional cooperation to stabilize currency movements; and ways to ease the constraints on policy resulting from the so-called 'impossible trinity' of fixed exchange rates, open capital accounts and independent monetary policy. This is one of the first books since the global financial crisis to specifically and comprehensively address the implications of the crisis for monetary and currency policy in emerging market economies, especially in Asia. Presenting a broad menu of policy options for financial reform and regulation, the book will be of great interest to finance experts and policymakers in the region as well as academics and researchers of financial and Asian economics as well as economic development.

Download or read book Export oriented Development Strategies written by Vittorio Corbo and published by Routledge. This book was released on 2019-03-08 with total page 357 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book originated with a conference that we held at Pontificia Universidad Cat61ica de Chile in late 1981. When we organized the conference, our focus was to provide policymakers and entrepreneurs with a summary of the experiences and lessons of countries that have pursued policies geared to export-led growth. After the conference we decided that the papers would be useful to a much wider audience and should be prepared for publication. The revised papers are contained in this volume.

Download or read book Managing Capital Flows written by Masahiro Kawai and published by Edward Elgar Publishing. This book was released on 2010-01-01 with total page 465 pages. Available in PDF, EPUB and Kindle. Book excerpt: Managing Capital Flows provides analyses that can help policymakers develop a framework for managing capital flows that is consistent with prudent macroeconomic and financial sector stability. While capital inflows can provide emerging market economies with invaluable benefits in pursuing economic development and growth, they can also pose serious policy challenges for macroeconomic management and financial sector supervision. The expert contributors cover a wide range of issues related to managing capital flows and analyze the experience of emerging Asian economies in dealing with surges in capital inflows. They also discuss possible policy measures to manage capital flows while remaining consistent with the goals of macroeconomic and financial sector stability. Building on this analysis, the book presents options for workable national policies and regional policy cooperation, particularly in exchange rate management. Containing chapters that bring in international experiences relevant to Asia and other emerging market economies, this insightful book will appeal to policymakers in governments and financial institutions, as well as public and private finance experts. It will also be of great interest to advanced students and academic researchers in finance.

Download or read book Financial Sector Crisis and Restructuring written by Carl-Johan Lindgren and published by . This book was released on 1999 with total page 103 pages. Available in PDF, EPUB and Kindle. Book excerpt: An IMF paper reviewing the policy responses of Indonesia, Korea and Thailand to the 1997 Asian crisis, comparing the actions of these three countries with those of Malaysia and the Philippines. Although all judgements are still tentative, important lessons can be learned from the experiences of the last two years.

Download or read book Powering the Digital Economy Opportunities and Risks of Artificial Intelligence in Finance written by El Bachir Boukherouaa and published by International Monetary Fund. This book was released on 2021-10-22 with total page 35 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper discusses the impact of the rapid adoption of artificial intelligence (AI) and machine learning (ML) in the financial sector. It highlights the benefits these technologies bring in terms of financial deepening and efficiency, while raising concerns about its potential in widening the digital divide between advanced and developing economies. The paper advances the discussion on the impact of this technology by distilling and categorizing the unique risks that it could pose to the integrity and stability of the financial system, policy challenges, and potential regulatory approaches. The evolving nature of this technology and its application in finance means that the full extent of its strengths and weaknesses is yet to be fully understood. Given the risk of unexpected pitfalls, countries will need to strengthen prudential oversight.

Download or read book International Capital Flows written by Martin Feldstein and published by University of Chicago Press. This book was released on 2007-12-01 with total page 500 pages. Available in PDF, EPUB and Kindle. Book excerpt: Recent changes in technology, along with the opening up of many regions previously closed to investment, have led to explosive growth in the international movement of capital. Flows from foreign direct investment and debt and equity financing can bring countries substantial gains by augmenting local savings and by improving technology and incentives. Investing companies acquire market access, lower cost inputs, and opportunities for profitable introductions of production methods in the countries where they invest. But, as was underscored recently by the economic and financial crises in several Asian countries, capital flows can also bring risks. Although there is no simple explanation of the currency crisis in Asia, it is clear that fixed exchange rates and chronic deficits increased the likelihood of a breakdown. Similarly, during the 1970s, the United States and other industrial countries loaned OPEC surpluses to borrowers in Latin America. But when the U.S. Federal Reserve raised interest rates to control soaring inflation, the result was a widespread debt moratorium in Latin America as many countries throughout the region struggled to pay the high interest on their foreign loans. International Capital Flows contains recent work by eminent scholars and practitioners on the experience of capital flows to Latin America, Asia, and eastern Europe. These papers discuss the role of banks, equity markets, and foreign direct investment in international capital flows, and the risks that investors and others face with these transactions. By focusing on capital flows' productivity and determinants, and the policy issues they raise, this collection is a valuable resource for economists, policymakers, and financial market participants.

Download or read book The ASEAN Way written by Ms.Ana Corbacho and published by International Monetary Fund. This book was released on 2018-10-02 with total page 311 pages. Available in PDF, EPUB and Kindle. Book excerpt: The first part of the book examines the evolution of monetary policy and prudential frameworks of the ASEAN5, with particular focus on changes since the Asian financial crisis and the more recent period of unconventional monetary policy in advanced economies. The second part of the book looks at policy responses to global financial spillovers. The third and last part of the book elaborates on the challenges ahead for monetary policy, financial stability frameworks, and the deepening of financial markets.

Download or read book Financial Deregulation and Integration in East Asia written by Takatoshi Ito and published by University of Chicago Press. This book was released on 2007-12-01 with total page 416 pages. Available in PDF, EPUB and Kindle. Book excerpt: The increased mobility and volume of international capital flows is a striking trend in international finance. While countries worldwide have engaged in financial deregulation, nowhere is this pattern more pronounced than in East Asia, where it has affected in unanticipated ways the behavior of exchange rates, interest rates, and capital flows. In these thirteen essays, American and Asian scholars analyze the effects of financial deregulation and integration on East Asian markets. Topics covered include the roles of the United States and Japan in trading with Asian countries, macroeconomic policy implications of export-led growth in Korea and Taiwan, the effects of foreign direct investment in China, and the impact of financial liberalization in Japan, Korea, and Singapore. Demonstrating the complexity of financial deregulation and the challenges it poses for policy makers, this volume provides an excellent picture of the overall status of East Asian financial markets for scholars in international finance and Asian economic development.

Download or read book Bank Leverage and Monetary Policy s Risk Taking Channel written by Mr.Giovanni Dell'Ariccia and published by International Monetary Fund. This book was released on 2013-06-06 with total page 41 pages. Available in PDF, EPUB and Kindle. Book excerpt: We present evidence of a risk-taking channel of monetary policy for the U.S. banking system. We use confidential data on the internal ratings of U.S. banks on loans to businesses over the period 1997 to 2011 from the Federal Reserve’s survey of terms of business lending. We find that ex-ante risk taking by banks (as measured by the risk rating of the bank’s loan portfolio) is negatively associated with increases in short-term policy interest rates. This relationship is less pronounced for banks with relatively low capital or during periods when banks’ capital erodes, such as episodes of financial and economic distress. These results contribute to the ongoing debate on the role of monetary policy in financial stability and suggest that monetary policy has a bearing on the riskiness of banks and financial stability more generally.

Download or read book Routledge Handbook of Banking and Finance in Asia written by Ulrich Volz and published by Routledge. This book was released on 2018-10-26 with total page 534 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Routledge Handbook of Banking and Finance in Asia brings together leading scholars, policymakers, and practitioners to provide a comprehensive and cutting-edge guide to Asia’s financial institutions, markets, and systems. Part I provides a country-by-country overview of banking and finance in East, Southeast, and South Asia, including examples from China, Japan, Hong Kong, India, and Singapore. Part II contains thematic chapters, covering topics such as commercial banking, development banking, infrastructure finance, stock markets, insurance, and sovereign wealth funds. It also includes examinations of banking regulation and supervision, and analyses of macroprudential regulation, capital flow management measures, and monetary policy. Finally, it provides new insights into topical issues such as SME, green, and Islamic finance. This handbook is an essential resource for scholars and students of Asian economics and finance and for professionals working in financial markets in Asia.

Download or read book Macro Prudential Policies to Mitigate Financial System Vulnerabilities written by Mr.Stijn Claessens and published by International Monetary Fund. This book was released on 2014-08-19 with total page 36 pages. Available in PDF, EPUB and Kindle. Book excerpt: Macro-prudential policies aimed at mitigating systemic financial risks have become part of the policy toolkit in many emerging markets and some advanced countries. Their effectiveness and efficacy are not well-known, however. Using panel data regressions, we analyze how changes in balance sheets of some 2,800 banks in 48 countries over 2000–2010 respond to specific macro-prudential policies. Controlling for endogeneity, we find that measures aimed at borrowers––caps on debt-to-income and loan-to-value ratios––and at financial institutions––limits on credit growth and foreign currency lending––are effective in reducing asset growth. Countercyclical buffers are little effective through the cycle, and some measures are even counterproductive during downswings, serving to aggravate declines, consistent with the ex-ante nature of macro-prudential tools.

Download or read book Refreshing The Singapore System Recalibrating Socio economic Policy For The 21st Century written by Terence Wai Luen Ho and published by World Scientific. This book was released on 2021-08-13 with total page 443 pages. Available in PDF, EPUB and Kindle. Book excerpt: Singapore's rapid ascent from Third World to First since its independence in 1965 has won it acclaim as an 'economic miracle'. Economic success has been accompanied by impressive achievements in social development, as reflected in international rankings of human capital and human development.The city state's achievements are founded on a socio-economic system characterised by low tax rates, flexible labour markets, and individual 'self-reliance', with state support centred on social investment in education and public housing.Entering the 21st century, however, slowing economic growth, an ageing population, global competition, and widening income dispersion have put the Singapore System under strain. This has prompted a significant refresh of social and economic policies over the past 15-20 years.This book aims to bring the reader up to date on Singapore's socio-economic development in the first two decades of the 21st century. It looks back to the shifts in policy thinking that have accompanied structural changes to Singapore's society and economy, taking stock of the policy innovations aimed at sustaining income growth, economic security, and social mobility. It looks around to compare Singapore's approach to those of other countries facing similar challenges, situating Singapore's experience in the wider international discourse on public policy. Finally, it looks ahead to how the Singapore System may evolve in the years to come.