Avoiding Double Mismatches and Withstanding Regional Financial Crises: The Singapore Experience
Tan, Khee-Giap; Karigane, T.; Yoshitomi, M. | December 2001
Abstract
By examining Singapore’s successful experience, this paper identifies policies and factors that can avoid or mitigate the borrowing dilemma of double mismatches of currency and maturity. The authors conclude that there are common core principles that could be adopted by other emerging economies, with modifications to reflect their local context and circumstances. Such core policies could include: (i) conservative prudential safe guards, such as higher capital adequacy ratios for banks; (ii) proper sequencing of financial development and spacing of domestic and external financial market liberalizations; and (iii) possibly a credible dichotomized financial system encouraged by reasonable fiscal incentives and management of foreign bank participation.
Citation
Tan, Khee-Giap; Karigane, T.; Yoshitomi, M.. 2001. Avoiding Double Mismatches and Withstanding Regional Financial Crises: The Singapore Experience. © Asian Development Bank Institute. http://hdl.handle.net/11540/4136. License: CC BY 3.0 IGO.Keywords
Trade Finance
Rural Finance
Regional Development Finance
Public Financial Management
Public Finance
International Finance
Intergovernmental Finance
Financial System
Financial Flows
Financial Assets
Finance And Trade
Trade Finance
Local Finance
International Monetary Relations
Local Finance
Banks
Capital Market
financial statistics
Foreign trade
Municipal government
Metropolitan government
International banks and banking
Capital movements
Central banks and banking
Bills of exchange
Swaps
Banks and banking
Stock exchanges
Market
Exchange
Balance of trade
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