Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/125546
Authors: 
Bun, Linh
Singh, Nirvikar
Year of Publication: 
2015
Series/Report no.: 
Working Papers, UC Santa Cruz Economics Department 729
Abstract: 
This paper analyzes detailed differences in patterns of financial development across the major Asian economies, including three of the region's largest economies (China, Japan and South Korea), to understand how these differences might affect possibilities for greater regional financial integration. In particular, the paper argues that heterogeneous patterns of financial development, and not just differences in levels of financial development, may present an economic challenge to regional financial integration efforts, aside from possible political challenges. The paper provides background on the case for financial openness, Asian experiences with financial integration, and regional economic responses to external shocks. It also discusses policy options, including regulatory reform and coordination, and possible risk management policies and institutions, in the context of heterogeneous patterns of financial development.
Subjects: 
financial development
financial integration
Asia Pacific
East Asia
JEL: 
F30
F55
G10
G20
O16
Document Type: 
Working Paper

Files in This Item:
File
Size
336.04 kB





Items in EconStor are protected by copyright, with all rights reserved, unless otherwise indicated.