The Financial Crisis and Money Markets in Emerging Asia
Rigg, Robert; Schou-Zibell, Lotte | November 2009
Abstract
Asian money markets entered the financial crisis in better shape than markets in other regions due to a substantial build-up of savings and liquidity in their banking systems, as well as a greater domestic focus in most of the region’s markets. However, despite the higher liquidity and lower levels of global integration, the effects of the crisis in Asia were severe and followed a similar path observed in international markets. The further development of money markets, particularly in less developed economies, will require policies and initiatives that add liquidity and depth to attract broader participation from both domestic and international investors—including regional cooperation, a robust regulatory architecture, and foreign competition to expedite the development of less developed money markets. Risk management and liquidity assumptions also need to be enhanced to establish buffers that will withstand more severe and prolonged external shocks and disruptions to external financing.
Citation
Rigg, Robert; Schou-Zibell, Lotte. 2009. The Financial Crisis and Money Markets in Emerging Asia. © Asian Development Bank. http://hdl.handle.net/11540/4198. License: CC BY 3.0 IGO.Keywords
Economic Crisis
Economic Efficiency
Economic Policies
Regional Economic Development
Job Evaluation
Evaluation
Price stabilization
Food prices
Price policy
Crisis
Unemployment
Economic cooperation
Gross domestic product
Employment
Economic forecast
Open price system
Price fixing
Price regulation
Consumer price indexes
Financial crisis
Labor economics
Regional economics
Turnover
Economic survey
Job analysis
Labor turnover
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http://hdl.handle.net/11540/4198Metadata
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