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Article: Developing Asia and the global financial regulatory agenda

TitleDeveloping Asia and the global financial regulatory agenda
Authors
KeywordsAsia
Financial regulatory reform
G-20
Global financial architecture
National and regional reform
Issue Date2011
PublisherPalgrave Macmillan Ltd. The Journal's web site is located at http://www.palgrave-journals.com/jbr
Citation
Journal Of Banking Regulation, 2011, v. 12 n. 2, p. 119-143 How to Cite?
AbstractThe objective of global regulatory reform is to build a resilient global financial system that can withstand shocks and dampen, rather than amplify, their effects on the real economy. Lessons drawn from the recent global financial crisis have led to specific reform proposals with concrete implementation plans at the international level. Yet, these proposals have raised concerns of relevance to Asia's developing economies and hence require further attention at the regional level. We argue that global financial reform should allow for the enormous development challenges faced by developing countries- while ensuring that domestic financial regulatory systems keep abreast of global standards. This implies global reforms should be complemented and augmented by national and regional reforms, taking into account the very different characteristics of emerging economies financial systems from advanced economies. Key areas of development focus should be (i) balancing regulation and innovation, (ii) establishing national and cross-border crisis management and resolution mechanisms, (iii) preparing a comprehensive framework and contingency plan for financial institution failure, including consumer protection measures such as deposit insurance, (iv) supporting growth and development with particular attention to the region's financial needs for infrastructure and for SMEs, and (v) reforming the international and regional financial architecture. © 2011 Macmillan Publishers Ltd.
Persistent Identifierhttp://hdl.handle.net/10722/139342
ISSN
2015 SCImago Journal Rankings: 0.160
References

 

DC FieldValueLanguage
dc.contributor.authorArner, DWen_HK
dc.contributor.authorPark, CYen_HK
dc.date.accessioned2011-09-23T05:48:26Z-
dc.date.available2011-09-23T05:48:26Z-
dc.date.issued2011en_HK
dc.identifier.citationJournal Of Banking Regulation, 2011, v. 12 n. 2, p. 119-143en_HK
dc.identifier.issn1745-6452en_HK
dc.identifier.urihttp://hdl.handle.net/10722/139342-
dc.description.abstractThe objective of global regulatory reform is to build a resilient global financial system that can withstand shocks and dampen, rather than amplify, their effects on the real economy. Lessons drawn from the recent global financial crisis have led to specific reform proposals with concrete implementation plans at the international level. Yet, these proposals have raised concerns of relevance to Asia's developing economies and hence require further attention at the regional level. We argue that global financial reform should allow for the enormous development challenges faced by developing countries- while ensuring that domestic financial regulatory systems keep abreast of global standards. This implies global reforms should be complemented and augmented by national and regional reforms, taking into account the very different characteristics of emerging economies financial systems from advanced economies. Key areas of development focus should be (i) balancing regulation and innovation, (ii) establishing national and cross-border crisis management and resolution mechanisms, (iii) preparing a comprehensive framework and contingency plan for financial institution failure, including consumer protection measures such as deposit insurance, (iv) supporting growth and development with particular attention to the region's financial needs for infrastructure and for SMEs, and (v) reforming the international and regional financial architecture. © 2011 Macmillan Publishers Ltd.en_HK
dc.languageengen_US
dc.publisherPalgrave Macmillan Ltd. The Journal's web site is located at http://www.palgrave-journals.com/jbren_HK
dc.relation.ispartofJournal of Banking Regulationen_HK
dc.rightsJournal of Banking Regulation. Copyright © Palgrave Macmillan Ltd.-
dc.subjectAsiaen_HK
dc.subjectFinancial regulatory reformen_HK
dc.subjectG-20en_HK
dc.subjectGlobal financial architectureen_HK
dc.subjectNational and regional reformen_HK
dc.titleDeveloping Asia and the global financial regulatory agendaen_HK
dc.typeArticleen_HK
dc.identifier.emailArner, DW:dwarner@hkucc.hku.hken_HK
dc.identifier.authorityArner, DW=rp01237en_HK
dc.description.naturelink_to_subscribed_fulltext-
dc.identifier.doi10.1057/jbr.2010.25en_HK
dc.identifier.scopuseid_2-s2.0-79953861794en_HK
dc.identifier.hkuros196353en_US
dc.relation.referenceshttp://www.scopus.com/mlt/select.url?eid=2-s2.0-79953861794&selection=ref&src=s&origin=recordpageen_HK
dc.identifier.volume12en_HK
dc.identifier.issue2en_HK
dc.identifier.spage119en_HK
dc.identifier.epage143en_HK
dc.publisher.placeUnited Kingdomen_HK
dc.identifier.scopusauthoridArner, DW=15046436800en_HK
dc.identifier.scopusauthoridPark, CY=7408417802en_HK

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