Download or read book Korea s Banking Law Reform Post Asian Crisis written by Byung-Tae Kim and published by Springer. This book was released on 2002-12-04 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Ever since Korea succumbed to the East Asian economic crisis in 1997, its financial sector has been restructuring itself in accordance with the terms of an IMF bail-out package, in addition to meeting urgent domestic banking needs. All this is taking place in the context of an international convergence of supervisory standards in the banking industry, spearheaded by the General Agreement on Trade in Services (GATS) and the "Core Principles" of the Basel Committee for Bank Supervision. This nexus of events makes the current reform of Korean banking laws of special significance as an example and a test of the "new international financial architecture" as it can be observed at work in a developing industrial economy. This book is the first in-depth analysis of Korea's banking law reform program, its complex sources, its particular rules, the effect of international commitments as well as "soft law", the extent of economic recovery to date, and the trends and developments in banking practice and regulation likely to occur in the near future. In the process the author examines such pervasive issues as the following: the need for both short-term and long-term banking sector infrastructures and the tension this creates the clear necessity to satisfy deep-seated societal predispositions the role of foreign banks ensuring the transparency of bank management the role of banking regulatory institutions and the importance of domestic financial stability in the global free market system By revealing the implications for Korea of the international banking and financial standards and principles that are coming into effect throughout the trading world, Korea's Banking Law Reform lays bare the underpinnings of a domestic financial system geared to work efficiently in international financial markets, yet designed to protect its own "safety and soundness." This is a book to be read and studied by all professionals working in the financial sector, whether bankers, regulators, advisors, or investors.

Download or read book The Korean Financial Crisis of 1997 A Strategy of Financial Sector Reform written by Mr.Angel J. Ubide and published by International Monetary Fund. This book was released on 1999-03-01 with total page 67 pages. Available in PDF, EPUB and Kindle. Book excerpt: After years of strong performance, Korea’s economy entered a crisis in 1997, owing largely to structural problems in its financial and corporate sectors. These problems emerged in the second half of that year, when the capital inflows that had helped finance Korea’s growth were reversed, as foreign investors—reeling from losses in other Southeast Asian economies—decided to reduce their exposure to Korea. This paper focuses on the sources of the crisis that originated in the financial sector, the measures taken to deal with it, and the evolution of key banking and financial variables in its aftermath.

Download or read book The Political Economy of the Asian Financial Crisis written by Stephan Haggard and published by Peterson Institute. This book was released on 2000 with total page 310 pages. Available in PDF, EPUB and Kindle. Book excerpt: This study not only examines the countries most severely affected by the Asian financial crisis, but also draws lessons from those whose economies escaped the worst problems. The author focuses on the political economy of the crisis, emphasizing long-standing problems and crisis management tactics.

Download or read book From Asian to Global Financial Crisis written by Andrew Sheng and published by Cambridge University Press. This book was released on 2009-09-28 with total page 505 pages. Available in PDF, EPUB and Kindle. Book excerpt: This is a unique insider account of the new world of unfettered finance. The author, an Asian regulator, examines how old mindsets, market fundamentalism, loose monetary policy, carry trade, lax supervision, greed, cronyism, and financial engineering caused both the Asian crisis of the late 1990s and the current global crisis of 2008-2009. This book shows how the Japanese zero interest rate policy to fight deflation helped create the carry trade that generated bubbles in Asia whose effects brought Asian economies down. The study's main purpose is to demonstrate that global finance is so interlinked and interactive that our current tools and institutional structure to deal with critical episodes are completely outdated. The book explains how current financial policies and regulation failed to deal with a global bubble and makes recommendations on what must change.

Download or read book Financial Crises and the Politics of Macroeconomic Adjustments written by Stefanie Walter and published by Cambridge University Press. This book was released on 2013-10-31 with total page 273 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book explains why governments respond differently to macroeconomic problems and why necessary reforms are sometimes delayed until a serious financial crisis erupts. It argues that voter vulnerability to different reform strategies varies, and that these vulnerabilities influence the type and timing of governments' policy responses to economic crises. Empirical analyses at both the individual level across a broad range of countries and case studies of national policy responses to financial and economic crises in Asia and Eastern Europe support the argument.

Download or read book Nonperforming Loans in Asia and Europe Causes Impacts and Resolution Strategies written by Asian Development Bank and published by Asian Development Bank. This book was released on 2021-12-01 with total page 262 pages. Available in PDF, EPUB and Kindle. Book excerpt: High and persistent levels of nonperforming loans (NPLs) have featured prominently in recent financial crises. This book traces NPL trends during and after crises, examines the economic impact of high NPLs, and compares the effectiveness of NPL resolution strategies across economies in Asia and Europe. The book distills important lessons from the experiences of economies using case studies and empirical investigation of ways to resolve NPLs. These findings can be invaluable in charting a course through the financial and economic fallout of the coronavirus disease (COVID-19) pandemic to recovery and sustained financial stability in Asia, Europe, and beyond.

Download or read book Global Waves of Debt written by M. Ayhan Kose and published by World Bank Publications. This book was released on 2021-03-03 with total page 403 pages. Available in PDF, EPUB and Kindle. Book excerpt: The global economy has experienced four waves of rapid debt accumulation over the past 50 years. The first three debt waves ended with financial crises in many emerging market and developing economies. During the current wave, which started in 2010, the increase in debt in these economies has already been larger, faster, and broader-based than in the previous three waves. Current low interest rates mitigate some of the risks associated with high debt. However, emerging market and developing economies are also confronted by weak growth prospects, mounting vulnerabilities, and elevated global risks. A menu of policy options is available to reduce the likelihood that the current debt wave will end in crisis and, if crises do take place, will alleviate their impact.

Download or read book The Global Financial Crisis written by Dick K. Nanto and published by DIANE Publishing. This book was released on 2009 with total page 127 pages. Available in PDF, EPUB and Kindle. Book excerpt: Contents: (1) Recent Developments and Analysis; (2) The Global Financial Crisis and U.S. Interests: Policy; Four Phases of the Global Financial Crisis; (3) New Challenges and Policy in Managing Financial Risk; (4) Origins, Contagion, and Risk; (5) Effects on Emerging Markets: Latin America; Russia and the Financial Crisis; (6) Effects on Europe and The European Response: The ¿European Framework for Action¿; The British Rescue Plan; Collapse of Iceland¿s Banking Sector; (7) Impact on Asia and the Asian Response: Asian Reserves and Their Impact; National Responses; (8) International Policy Issues: Bretton Woods II; G-20 Meetings; The International Monetary Fund; Changes in U.S. Reg¿s. and Regulatory Structure; (9) Legislation.

Download or read book Insolvency Law Reforms in Asian Developing Countries written by Yuka Kaneko and published by Springer Nature. This book was released on 2022-01-16 with total page 84 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book examines the outcomes of the economic law reforms in Asian developing countries, guided by the leading international development financiers such as the World Bank and the Asian Development Bank. Included is a particular focus on the recent “insolvency law” reforms in the Asian emerging economies, such as Vietnam, Laos, and Myanmar. Such legal reforms are the results of the “transplant” of the model law provided by these donor agencies, a law that was created in the post-Asian Currency Crisis in the 1990s. This book therefore examines the outcomes of three decades of donor-guided legal reforms. Appropriately, it applies not only the static approach to the legal texts but also an empirical methodology through interview surveys of the corporate and financial sectors. Following the introduction in Chapter I, Chapter II reviews the basic theories and presents the methodological framework. Chapter III then analyzes the contents of insolvency law reforms in the major target countries, namely, Vietnam, Laos, and Myanmar. Chapter IV provides a closer investigation into the design choices of Myanmar’s 2020 Insolvency Law as a typical example of the law reform involving the inter-donor conflict of law models between the Asian Development Bank and Japan’s official development assistance project. Lastly, Chapter V applies an empirical approach to the functioning of insolvency law, through international collaboration for interview surveys with small and medium-sized enterprises (SMEs) and their financiers.

Download or read book Crisis as Catalyst written by Andrew J. MacIntyre and published by . This book was released on 2008 with total page 344 pages. Available in PDF, EPUB and Kindle. Book excerpt: The financial crisis that swept across East Asia during 1997-1998 was devastating not only in its economic impact but also in its social and political effects. The explosive growth and sociopolitical modernization that had powered the region for much of the preceding decade suddenly were dramatically interrupted. East Asia is economically outperforming the rest of the developing world once again and has become a leading force in the global economy. In the wake of the crisis, East Asia changed in important ways. Crisis as Catalyst contains assessments of these changes-both ephemeral and permanent- by a wide range of specialists in Asian economics and politics.The crisis, as the contributors to this volume show, catalyzed changes across political, corporate, and social arenas both in the countries hit hard by the crisis and in others throughout the region. The authors of Crisis as Catalyst examine what has changed (as well as what has not changed) in East Asia since the crisis, explain these variations, and reflect on the long-term significance of these developments.

Download or read book Asian Post crisis Management written by U. Haley and published by Springer. This book was released on 2002-02-20 with total page 465 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book examines the key issues faced by the managers of multinational companies, and contains cutting-edge strategies and practices designed to enable managers and policy makers to weather the Asian financial and economic storms. Asian Post-Crisis Management shows how to position companies and governments in Asia for sustainable competitive advantage, and will be of interest to top management leaders, senior economic analysts, policy makers, academic scholars and students of international management.

Download or read book Beyond the Asian Crisis written by Anis Chowdhury and published by Edward Elgar Publishing. This book was released on 2001-01-01 with total page 400 pages. Available in PDF, EPUB and Kindle. Book excerpt: 'The volume is certainly interesting and well-informed and would make a valuable addition to reading lists for courses on East Asian economic development.' - Anne Booth, Asia Pacific Business Review As Southeast and Northeast Asia recover from the Asian crisis and return to a state of growth, the authors of this book assess the lessons to be learned from the crisis to achieve sustainable development in the future. While the importance of each factor contributing to the crisis varies from country to country, their collective experience has created unprecedented turmoil in current thinking on development policy.

Download or read book Research Handbook on Asian Financial Law written by Douglas W. Arner and published by Edward Elgar Publishing. This book was released on 2020-01-31 with total page 608 pages. Available in PDF, EPUB and Kindle. Book excerpt: This comprehensive Research Handbook provides an in-depth analysis of the different financial law approaches, legal systems and trends throughout Asia. It considers how reforms following the crises have been critical for the development and growth of the region and explores a broad range of post-crisis financial regulatory issues. This timely book also examines how inconsistent and divergent approaches to financial market regulation are curtailing the region’s potential.

Download or read book Redefining Strategic Routes to Financial Resilience in ASEAN 3 written by Asian Development Bank and published by Asian Development Bank. This book was released on 2021-12-01 with total page 293 pages. Available in PDF, EPUB and Kindle. Book excerpt: Rapid globalization and digitalization have transformed the financial landscape of ASEAN+3—the Association of Southeast Asian Nations (ASEAN) and the People’s Republic of China, Japan, and the Republic of Korea. Despite impressive reforms, the region faces continued challenges. These include deepening corporate bond markets, coping with cross-border bank concentration risk, reducing dependence on the United States dollar, achieving sustainable infrastructure investments, addressing pension issues, and supporting fintech development. This edited volume highlights the potential for stronger regional financial cooperation to address such challenges. It explores how regional financial cooperation could promote greater financial resilience and stability amid rapid economic and financial development and technological change.

Download or read book Law and Development in Asia written by Gerald Paul McAlinn and published by Routledge. This book was released on 2012-03-15 with total page 540 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book fills a gap in the literature by presenting a comprehensive overview of the key issues relating to law and development in Asia. Over recent decades, experts in law and development have produced multiple theories on law and development, none of which were derived from close study of Asian countries, and none of which fit very well with the existing evidence of how law actually functioned in these countries during periods of rapid economic development. The book discusses the different models of law and development, including both the developmental state model of the 1960s and the neo-liberal model of the 1980s, and shows how development has worked out in practice in relation to these models in a range of Asian countries, including Japan, Korea, China, Thailand, Singapore, India and Mongolia. Particular themes examined include constitutionalism, judicial and legal reform; labour law; the growing importance of private rights; foreign investment and the international law of development. Reflecting the complexity of Asian law and society, both those who believe in an "Asian Way" which is radically different from law and development in other parts of the world, as well as those who believe the arc of law and development is essentially universal, will find support in this book.

Download or read book The Changing Role of the Korean State written by Hong Yung Lee and published by Logos Verlag Berlin GmbH. This book was released on 2016-10-20 with total page 159 pages. Available in PDF, EPUB and Kindle. Book excerpt: How and why has the Korean state changed its way of handling the society and its markets over the past two decades? The Changing Role of the Korean State finds that the explosion of contentious civil society after democratization coeval with the outbreak of the financial crisis following rapid economic growth, are closely associated with the decline of developmentalism. Despite these profound changes, however, the Korean state has not totally relinquished its control over the society and the market. Rather, although its methods have been altered it remains to be highly interventionalist and regulatory in nature. The state continues to use its influence to restructure the socio-economic system and rationally manage spatial arrangements. The book amply demonstrates the residual legacy of the developmental state in Korea, and it is unlikely that Korea will ever accept the western liberalist concept of a state which limits its function to that of a referee for the spontaneous operation of the civil society and the market. The contributors of this edited volume delineate the shifting role of the Korean state from the developmental state, which led economic development by guiding investment in strategic industries through various means, to a slightly subtler role as a regulator, supervising the operation of the market in the changing economic environment. Individual chapters presented here address this changing but nonetheless vital role that the state plays in managing the variety of modern socio-economic life in South Korea. Hong Yung Lee is Professor Emeritus of Political Science at University of California, Berkeley. Sunil Kim is Assistant Professor of International Studies at Kyung Hee University.

Download or read book East Asian Labor Markets and the Economic Crisis written by Gordon Betcherman and published by World Bank Publications. This book was released on 2001 with total page 516 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book looks at the impacts of the Asian economic crisis on the labor market, examining how various countries respondedIt identifies the labour policy reforms needed in areas of unemployment benefit, active labour market programs, support for vulnerable groups and social dialogue.