Reforming Financial Sector And Promoting Capital Market Development With Special Reference To Malaysia
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Financial Development and Economic Growth in Malaysia
| Author | : James B. Ang |
| Publisher | : Routledge |
| Total Pages | : 287 |
| Release | : 2008-11-25 |
| Genre | : Business & Economics |
| ISBN | : 1134035101 |
This book is concerned with the role of financial intermediation in economic development and growth in the context of Malaysia. Using an analytical framework, the author investigates the Malaysian economy from 1960 onwards to examine how far financial development has progressed in the course of economic development, and whether it has been instrumental in promoting economic growth. A significant improvement in the Malaysian financial system, coupled with rapid economic growth and a rich history of financial sector reforms, makes Malaysia an interesting case study for this subject. The author shows that some government interventions seem to have impacted negatively on economic growth, whereas repressionist financial policies such as interest rate controls, high reserve requirements and directed credit programmes seem to have contributed positively to financial development. The analysis concludes that financial development leads to higher output growth via promoting private saving and private investment. Shedding light on the evolutionary role of financial system and the interacting mechanisms between financial development and economic growth, this book will be of interest to those interested in economic and financial development, financial liberalization, saving behaviour and investment analysis and Asian Studies.
Financial Sector Crisis and Restructuring
| Author | : Carl-Johan Lindgren |
| Publisher | : |
| Total Pages | : 103 |
| Release | : 1999 |
| Genre | : Business & Economics |
| ISBN | : 9781557758712 |
An IMF paper reviewing the policy responses of Indonesia, Korea and Thailand to the 1997 Asian crisis, comparing the actions of these three countries with those of Malaysia and the Philippines. Although all judgements are still tentative, important lessons can be learned from the experiences of the last two years.
Capital Market Reform in Asia
| Author | : Masahiro Kawai |
| Publisher | : SAGE Publications Pvt. Limited |
| Total Pages | : 0 |
| Release | : 2012-10-18 |
| Genre | : Business & Economics |
| ISBN | : 9788132107545 |
Capital Market Reform in Asia is derived from 11 round table conferences on Capital Market Reform in Asia, jointly organized by Asian Development Bank Institute (ADBI) and the Organization for Economic Co-operation and Development (OECD). The volume charts the progress of capital market development in Asia after the 1997–1998 Asian financial crisis, providing insights into capital market reform and the new challenges that have arisen since the global financial crisis of 2007–2009, amidst reforms to the international financial architecture.
Monetary and Exchange System Reforms in China
| Author | : Mr.Bernard Laurens |
| Publisher | : International Monetary Fund |
| Total Pages | : 108 |
| Release | : 1996-09-26 |
| Genre | : Business & Economics |
| ISBN | : 9781557755629 |
In 1978, China embarked on a gradual but far-reaching reform of its economic system. This paper focuses on the achievements so far in reforming the financial sector, the legal framework for financial transactions, the payments system, and the monetary policy and foreign exchange system. It also analyzes the tasks ahead to achieve the goals set in these areas for the year 2000.
Emerging Capital Markets and Globalization
| Author | : Augusto de la Torre |
| Publisher | : World Bank Publications |
| Total Pages | : 232 |
| Release | : 2006-10-20 |
| Genre | : Business & Economics |
| ISBN | : 0821365444 |
Back in the early 1990s, economists and policy makers had high expectations about the prospects for domestic capital market development in emerging economies, particularly in Latin America. Unfortunately, they are now faced with disheartening results. Stock and bond markets remain illiquid and segmented. Debt is concentrated at the short end of the maturity spectrum and denominated in foreign currency, exposing countries to maturity and currency risk. Capital markets in Latin America look particularly underdeveloped when considering the many efforts undertaken to improve the macroeconomic environment and to reform the institutions believed to foster capital market development. The disappointing performance has made conventional policy recommendations questionable, at best. 'Emerging Capital Markets and Globalization' analyzes where we stand and where we are heading on capital market development. First, it takes stock of the state and evolution of Latin American capital markets and related reforms over time and relative to other countries. Second, it analyzes the factors related to the development of capital markets, with particular interest on measuring the impact of reforms. And third, in light of this analysis, it discusses the prospects for capital market development in Latin America and emerging economies and the implications for the reform agenda.
Asian Perspectives on Financial Sector Reforms and Regulation
| Author | : Masahiro Kawai |
| Publisher | : Brookings Institution Press |
| Total Pages | : 338 |
| Release | : 2011 |
| Genre | : Business & Economics |
| ISBN | : 0815722109 |
"Examines Asia's emerging markets, which survived the financial debacle of 2008-09 with only modest declines in growth; discusses activities that could dampen continuing development in these markets including inflation, surging capital inflows, asset and credit bubbles, and rapid currency appreciation; and offers strategies to promote financial stability"--Provided by publisher.
Financial Sector Development Strategy 2011-2020 [Cambodia]
| Author | : Asian Development Bank |
| Publisher | : Asian Development Bank |
| Total Pages | : 238 |
| Release | : 2012-08-01 |
| Genre | : Business & Economics |
| ISBN | : 9290926899 |
With a rapidly growing commercial economy that requires a sound financial system to sustain growth, Cambodia is committed to the long-term development of the financial sector, channeling financial resources to productive investments, and managing the inherent risks to achieve sustainable economic growth over the long term and contribute to poverty reduction. Financial Sector Development Strategy 2011–2020 reflects Cambodia’s achievements to date, provides an assessment of current challenges and constraints to financial sector development, the long-term goals, and a prioritized set of action plans for the next decade. Said strategy will enable Cambodia’s financial sector to integrate into the regional financial system and support her long-term economic development agenda.
Structural Reforms and Economic Performance in Advanced and Developing Countries
| Author | : Mr.Jonathan David Ostry |
| Publisher | : International Monetary Fund |
| Total Pages | : 62 |
| Release | : 2009-10-15 |
| Genre | : Business & Economics |
| ISBN | : 1589068181 |
This volume examines the impact on economic performance of structural policies-policies that increase the role of market forces and competition in the economy, while maintaining appropriate regulatory frameworks. The results reflect a new dataset covering reforms of domestic product markets, international trade, the domestic financial sector, and the external capital account, in 91 developed and developing countries. Among the key results of this study, the authors find that real and financial reforms (and, in particular, domestic financial liberalization, trade liberalization, and agricultural liberalization) boost income growth. However, growth effects differ significantly across alternative reform sequencing strategies: a trade-before-capital-account strategy achieves better outcomes than the reverse, or even than a "big bang"; also, liberalizing the domestic financial sector together with the external capital account is growth-enhancing, provided the economy is relatively open to international trade. Finally, relatively liberalized domestic financial sectors enhance the economy's resilience, reducing output costs from adverse terms-of-trade and interest-rate shocks; increased credit availability is one of the key mechanisms.
Sequencing Financial Sector Reforms
| Author | : International Monetary Fund |
| Publisher | : International Monetary Fund |
| Total Pages | : 412 |
| Release | : 1991-03-15 |
| Genre | : Business & Economics |
| ISBN | : 9781557757791 |
Financial sector liberalization can spur economic growth and development, but reforms to liberalize the financial sector can also entail risks if they are not properly designed and implemented. One of the central questions for countries reforming their financial systems is how to sequence the reforms so as to maximize the benefits of liberalization and contain its risks. Edited by R. Barry Johnston and V. Sundararajan of the IMF's Monetary and Exchange Affairs Department, this book attempts to answer this and related questions by drawing lessons from financial sector reforms in selected countries. In particular, the book surveys financial sector reforms in Indonesia, Thailand, and Korea between the mid-1980s and mid-1990s.
