Synopses & Reviews
With the growth of financial markets outpacing the development offinancial market regulations, Azis and Shin note burgeoning complexity in the world of finance with a resultant higher frequencyof financial crises. As financial innovation and securitization become more popular, interconnectedness in the financial system is atits height, both for intra- and extra-sovereign jurisdictions. This volume examines what this means for Asia’s financial sector, itsstability, and the implications for the region’s financial regulation. It describes the challenges faced by policymakers andregulators who are trying to strike a balance between financial development and stability and between maximizing benefits andminimizing risks of financial liberalization. Eighteen chapters are divided into five parts: overview and summary; macro-prudentialsupervisory system and development impact; issues and challenges on the legal and institutional framework for emerging Asia; financialintegration and cooperation to support financial stability; financial supervision and development challenges in Asia.Annotation ©2016 Ringgold, Inc., Portland, OR (protoview.com)
The growth of financial markets has clearly outpaced the development of financial market regulations. With growing complexity in the world of finance and the resultant higher frequency of financial crises, all eyes have shifted toward the current inadequacy of financial regulation. This book expertly examines what this episode means for Asia's financial sector and its stability, and what the implications will be for the region's financial regulation. By focusing on legal and institutional frameworks the book also elaborates on various issues and challenges in terms of how financial liberalization can maximize the benefits and minimize the risks of crisis.