Financial Integration in East Asia
Financial Integration in East Asia, first published in 1999, examines the degree of domestic and financial openness in ten Asian countries (Japan, Australia, Hong Kong, Indonesia, South Korea, Malaysia, the Philippines, Singapore, Taiwan and Thailand) and the effect financial openness has on the structure of the macroeconomy. After examining the reasons behind the 1997/98 financial crisis, Dr de Brouwer puts these in context by summarising the literature on the costs and benefits of financial reform. He then assesses the information that interest rate parity conditions have for financial openness, and sets out theoretical and empirical models to explore the link between market interest rates and intermediated interest rates on deposits and loans. Financial Integration in East Asia also contains reviews of the literature and regional developments, with clear policy analysis throughout.
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Developments in east Asia 19971998
Measures of financial integration in east Asia
Interest parity conditions as indicators of international financial
a precondition for international
Financial integration and capital formation foreign debt and
does financial integration
Other editions - View all
AInterbank rate Asian assets Australia average baht Bank of Korea Bank of Thailand capital account capital controls capital inflow capital stock cent level central bank cº cº coefficient cointegration constant correlation Functional correlation Functional form countries currency current account deposit and loan dollar domestic financial Domestic interest rate east Asia economies equation estimated financial integration financial markets financial openness financial system Foreign interest rate form Normality Heteroscedasticity forward discount Functional form Normality Heteroscedasticity Hong Kong income growth increase Indonesia institutional rates Interbank rate t–1 International Financial Statistics investment January 1980–January Japan Korea lending rates Liquidity constraint Malaysia Minimum deposit requirement money market rate non-durable consumption º º º ºuer Philippines real exchange rate real interest rate Serial correlation Serial correlation Functional Singapore spot rate Standard error Table three-month total private expenditure trade uncovered interest differential uncovered interest parity variables