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Global Financial Regulatory Reforms: Implications for Developing Asia

dc.contributor.authorDouglas W. Arner
dc.contributor.authorCyn-Young Park
dc.date.accessioned2015-01-30T14:45:17Z
dc.date.available2015-01-30T14:45:17Z
dc.date.issued2010-09-01
dc.identifier.urihttp://hdl.handle.net/11540/1943
dc.description.abstract"The objective of global regulatory reform is to build a resilient global financial system that can withstand shocks and dampen, rather than amplify, their effects on the real economy. Lessons drawn from the recent crisis have led to specific reform proposals with concrete implementation plans at the international level. Yet, these proposals have raised concerns of relevance to Asia’s developing economies and hence require further attention at the regional level. We argue that global financial reform should allow for the enormous development challenges faced by developing countries—while ensuring that domestic financial regulatory systems keep abreast of global standards. This implies global reforms should be complemented and augmented by national and regional reforms, taking into account the very different characteristics of emerging economies’ financial systems from advanced economies. Key areas of development focus should be (i) balancing regulation and innovation, (ii) establishing national and cross-border crisis management and resolution mechanisms, (iii) preparing a comprehensive framework and contingency plan for financial institution failure, including consumer protection measures such as deposit insurance, (iv) supporting growth and development with particular attention to the region’s financial needs for infrastructure and for SMEs, and (v) reforming the international and regional financial architecture. "
dc.languageEnglish
dc.publisherAsian Development Bank
dc.rightsCC BY 3.0 IGO
dc.rights.urihttp://creativecommons.org/licenses/by/3.0/igo
dc.titleGlobal Financial Regulatory Reforms: Implications for Developing Asia
dc.typeWorking Papers
dc.subject.expertFinancial Sector Reform
dc.subject.expertFinancial Reform
dc.subject.expertFinancial Policy
dc.subject.expertRural Poverty
dc.subject.expertEconomic Development and Finance
dc.subject.expertDevelopment Financing
dc.subject.adbBusiness Financing
dc.subject.adbInvestment Requirements
dc.subject.adbDevelopment Banks
dc.subject.adbSocial Equity
dc.subject.adbRural Development
dc.subject.adbRural Conditions
dc.subject.adbRural Sociology
dc.subject.adbEconomic and Social Development
dc.subject.adbIncome Generation
dc.subject.naturalInvestment Requirements
dc.subject.naturalBanks
dc.subject.naturalDevelopment Banks
dc.subject.naturalProject Impact
dc.subject.naturalFinancial Aspects
dc.subject.naturalRural Development
dc.subject.naturalRural Conditions
dc.subject.naturalIncome Generation
dc.subject.naturalEconomic and Social Development
dc.title.seriesRegional Economic Integration Working Papers
dc.title.volumeno 57
dc.contributor.imprintAsian Development Bank
oar.themeFinance
oar.themePoverty
oar.adminregionAsia and the Pacific Region
oar.countryBangladesh
oar.countryBhutan
oar.countryIndia
oar.countryMaldives
oar.countryNepal
oar.countrySri Lanka
oar.countryBrunei Darussalam
oar.countryCambodia
oar.countryIndonesia
oar.countryLao People's Democratic Republic
oar.countryMalaysia
oar.countryMyanmar
oar.countryPhilippines
oar.countrySingapore
oar.countryThailand
oar.countryViet Nam
oar.countryCook Islands
oar.countryFiji
oar.countryKiribati
oar.countryMarshall Islands
oar.countryMicronesia, Federated States of
oar.countryNauru
oar.countryPalau
oar.countryPapua New Guinea
oar.countrySamoa
oar.countrySolomon Islands
oar.countryTimor-Leste
oar.countryTonga
oar.countryTuvalu
oar.countryVanuatu
oar.countryAfghanistan
oar.countryArmenia
oar.countryAzerbaijan
oar.countryGeorgia
oar.countryKazakhstan
oar.countryKyrgyz Republic
oar.countryPakistan
oar.countryTajikistan
oar.countryTurkmenistan
oar.countryUzbekistan
oar.countryChina, People's Republic of
oar.countryHong Kong, China
oar.countryRepublic of Korea
oar.countryMongolia
oar.countryTaipei,China
oar.identifierOAR-001277
oar.authorArner, Douglas W.
oar.authorPark, Cyn-Young
oar.importtrue
oar.googlescholar.linkpresenttrue


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  • Regional Economic Integration Working Paper Series
    The Asian Development Bank Working Paper Series on Regional Economic Integration focuses on topics relating to regional cooperation and integration in the areas of infrastructure and software, trade and investment, money and finance, and regional public goods. The series is a quick-disseminating, informal publication that seeks to provide information, generate discussion, and elicit comments.

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