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Global Financial Turmoil: Impact and Challenges for Asia's Financial Systems

dc.contributor.authorJong-Wha Lee
dc.contributor.authorCyn-Young Park
dc.date.accessioned2015-04-29T14:29:32Z
dc.date.available2015-04-29T14:29:32Z
dc.date.issued2008-04-15
dc.identifier.urihttp://hdl.handle.net/11540/4200
dc.description.abstractThis paper examines the unfolding of the US subprime-generated turmoil and its potential spillover on emerging Asia’s financial systems. The subprime mortgage mess has revealed key structural weaknesses in the evolution of modern credit markets. While emerging Asian financial markets have thus far suffered only limited impact, they remain open to further contagion given underlying weaknesses in the region’s financial systems. Rapid financial globalization also poses new challenges as the region’s largely unsophisticated banking and financial systems strive to keep up with the evolving financial environment and innovation. Policy priorities to foster regional financial stability include enhancing transparency and governance, improving risk management, strengthening regulation and supervision, and deepening and broadening financial systems, especially by developing local currency bond markets.
dc.languageEnglish
dc.publisherAsian Development Bank
dc.rightsCC BY 3.0 IGO
dc.rights.urihttps://creativecommons.org/licenses/by/3.0/igo/
dc.titleGlobal Financial Turmoil: Impact and Challenges for Asia's Financial Systems
dc.typeWorking Papers
dc.subject.expertRegionalism
dc.subject.expertRegional Economy
dc.subject.expertRegional Trading Arrangements
dc.subject.expertRegional Trade Integration
dc.subject.expertRegional Economic Integration
dc.subject.expertRegional Cooperation
dc.subject.expertInterregional Cooperation
dc.subject.expertTrade Disputes
dc.subject.expertTrade Barriers
dc.subject.adbEconomic integration
dc.subject.adbRegional Development Bank
dc.subject.adbPreferential tariffs
dc.subject.adbInternational negotiation
dc.subject.adbProtectionist measures
dc.subject.adbAccess to markets
dc.subject.adbEconomic agreements
dc.subject.adbInternational trade law
dc.subject.adbRegional integration
dc.subject.adbTrade relations
dc.subject.naturalRegional disparities
dc.subject.naturalInterregionalism
dc.subject.naturalRegional economic disparities
dc.subject.naturalRegional economic blocs
dc.subject.naturalIndustrial arbitration
dc.title.seriesWorking Paper Series On Regional Economic Integration
dc.title.volume18
dc.contributor.imprintAsian Development Bank
oar.themeRegional
oar.themeTrade
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
oar.countryMalaysia
oar.countryMyanmar
oar.countryPhilippines
oar.countrySingapore
oar.countryThailand
oar.countryViet Nam
oar.countryCook Islands
oar.countryFiji Islands
oar.countryKiribati
oar.countryMarshall Islands
oar.countryFederated States of Micronesia
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.countryPeople's Republic of China
oar.countryHong Kong
oar.countryChina
oar.countryRepublic of Korea
oar.countryMongolia
oar.countryTaipei,China
oar.identifierOAR-004571
oar.authorLee, Jong-Wha
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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