Financial Integration And Consumption Risk Sharing In East Asia
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Financial Integration And Consumption Risk Sharing In East Asia
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Author : Soyoung Kim
language : en
Publisher: 대외경제정책연구원
Release Date : 2003
Financial Integration And Consumption Risk Sharing In East Asia written by Soyoung Kim and has been published by 대외경제정책연구원 this book supported file pdf, txt, epub, kindle and other format this book has been release on 2003 with Consumption (Economics) categories.
Financial Integration And Consumption Risk Sharing In East Asia
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Author : Soyoung Kim
language : en
Publisher:
Release Date : 2003
Financial Integration And Consumption Risk Sharing In East Asia written by Soyoung Kim and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2003 with categories.
Real And Financial Integration In Asia
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Author : Shandre M. Thangavelu
language : en
Publisher: Routledge
Release Date : 2012-10-02
Real And Financial Integration In Asia written by Shandre M. Thangavelu and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012-10-02 with Business & Economics categories.
This book investigates the impact of both real and financial integration to growth and to welfare, and to enquire whether increases in either or both forms build the linkage between the real and financial economy. It contributes to the following two areas: (1) Research of economic developments in East Asia, the most dynamic and populous region in the world, in itself is important for researchers, policy makers, journalists, business people and others. East Asia’s economic developments influence peoples’ lives not only in East Asia but also in other parts of the world. (2) Many aspects of East Asian experiences in economic development are unique, making research of East Asia attractive and important to discern mechanisms of economic development. The first part of this study begins with chapters that address the measurement of regional integration compared with the engagement with the global economy and how this influences the aggregate behavior of the economies. The second part turns to consideration of the financial sector and the efficiency and performance of banking in the region. This allows a discussion whether, in the current crisis, the banking sector was an important channel of financial shock into real behavior. The third part turns to the corporate sector. Using data on firms, type of finance used by firms, its impact on their performance, and ownership structure influence over the productivity growth are discussed. Based on the findings, the book presents several policy recommendation and future research agenda for further economic integration in East Asia.
Regional Vs Global Risk Sharing In East Asia
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Author : Soyoung Kim
language : en
Publisher: KIEP
Release Date : 2004
Regional Vs Global Risk Sharing In East Asia written by Soyoung Kim and has been published by KIEP this book supported file pdf, txt, epub, kindle and other format this book has been release on 2004 with Consumption (Economics) categories.
The Dynamics Of Asian Financial Integration
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Author : Michael Devereux
language : en
Publisher: Taylor & Francis
Release Date : 2011-05-03
The Dynamics Of Asian Financial Integration written by Michael Devereux and has been published by Taylor & Francis this book supported file pdf, txt, epub, kindle and other format this book has been release on 2011-05-03 with Business & Economics categories.
The ongoing global financial crisis has manifested a remarkable degree of global financial integration—and its implications—for emerging Asian financial markets. The current crisis will not and should not deter the progress that the region has made toward financial openness and integration. However, events like this clearly demonstrate that financial liberalization and integration is not without risks. Hence, emerging Asian economies' growing financial ties have motivated us to look closer at the repercussions of increased financial integration and evaluate the benefits of risk sharing and better access to international capital markets against the costs of cross-border financial contagion. The crisis also presents a timely opportunity for the region’s policy makers to rethink their strategies for financial deregulation and liberalization and to reconsider a next step to integrate emerging East Asia’s financial markets further. However, doing so requires deeper understanding of financial market integration. While much has been said in both academic and policy circles about financial globalization and regional financial integration as separate areas of study, existing research has been relatively silent on the dynamics between these two distinctive forces. The book addresses this gap in financial literature and assesses financial integration in emerging East Asia at both regional and global levels. The publication studies the factors driving the progress of regional financial integration in relation to financial globalization and identifies the relevant policy challenges facing emerging market economies in the region. Chapters look into three broad aspects of regional and global financial market integration: (i) measurement of regional and global financial integration, (ii) understanding dynamics of regional financial integration versus global financial integration, and (iii) welfare implications from regional financial market integration amid financial globalization. Against this context, academics, policy makers, and other readers will appreciate the rigorous research contribution provided by the book.
Financial Market Integration In East Asia
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Author : Jongkyou Jeon
language : en
Publisher:
Release Date : 2005
Financial Market Integration In East Asia written by Jongkyou Jeon and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2005 with East Asia categories.
Financial Integration In East Asia
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Author : Hiroshi Fujiki
language : en
Publisher:
Release Date : 2007
Financial Integration In East Asia written by Hiroshi Fujiki and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2007 with Capital market categories.
"This paper examines the degree of integration into world financial markets and the impacts on several key macroeconomic variables of selected East Asian economies, and draws policy implications. According to our analysis, the degrees of integration into world financial markets in those economies are increasing. Regarding the impacts of increasing integration into world financial markets on several macroeconomic variables, we find three results. First, casual two-way plots among macroeconomic variables do not support the theoretical prediction of reduction in relative consumption volatility. Second, the saving-investment correlation is higher than those of the euro area economies. Third, the degrees of smoothing of idiosyncratic shock by cross-holding of financial assets are lower than the euro area economies. These results suggest two policy implications. First, there is some room for improvement in welfare gains in those economies by means of further risk sharing. Second, holding all other conditions equal, the increasing integration into world financial markets alone is unlikely to provide a sound ground for a currency union in East Asia at this stage."--Author's description.
Risk Sharing And Financial Contagion In Asia
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Author : Mr.Phurichai Rungcharoenkitkul
language : en
Publisher: International Monetary Fund
Release Date : 2011-10-01
Risk Sharing And Financial Contagion In Asia written by Mr.Phurichai Rungcharoenkitkul and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2011-10-01 with Business & Economics categories.
This paper assesses financial integration in Asia in terms of risk-sharing benefit versus financial-contagion cost. We construct a new measure of risk sharing based on a term structure model, which allows identification of realized stochastic discount factors. Risk sharing is low in Asia, and varies across time and countries, whereas contagion risks are more significant intra-regionally, and relatively stable over the past decade. An overall tradeoff exists between risk sharing and contagion, but the terms of tradeoffs vary across countries, depending on relative economic fluctuations and inflation differentials. Asia, therefore, can potentially enhance risk sharing without raising contagion risk.
Monetary And Financial Integration In East Asia
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Author : Yung Chul Park
language : en
Publisher: Oxford University Press
Release Date : 2010-07
Monetary And Financial Integration In East Asia written by Yung Chul Park and has been published by Oxford University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2010-07 with Business & Economics categories.
The book analyses the Asian experience from both Asian and European perspectives.
Financial Integration In East Asia
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Author : Gordon de Brouwer
language : en
Publisher: Cambridge University Press
Release Date : 1999-09-27
Financial Integration In East Asia written by Gordon de Brouwer and has been published by Cambridge University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 1999-09-27 with Business & Economics categories.
This book examines the theory and practice of financial integration, with an emphasis on the recent upheavals in Asian financial markets.