Procyclicality of Financial Systems in Asia [NOOK Book]

Overview

The procyclicality of financial systems has received an increasing amount of attention from policymakers, academics, and international organizations in recent years. This heightened interest stems from a combination of the ongoing globalization of finance, the role of the financial sector in various emerging market crises in the late 1990s, and the potential impact on financial sectors of the upcoming implementation of the Basel II accord. Some degree of financial sector procyclicality is a characteristic of any ...
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Procyclicality of Financial Systems in Asia

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Overview

The procyclicality of financial systems has received an increasing amount of attention from policymakers, academics, and international organizations in recent years. This heightened interest stems from a combination of the ongoing globalization of finance, the role of the financial sector in various emerging market crises in the late 1990s, and the potential impact on financial sectors of the upcoming implementation of the Basel II accord. Some degree of financial sector procyclicality is a characteristic of any normally functioning economy. At issue is whether the observed procyclicality is excessive. The challenge is to define "excessive" and to identify policy measures that could produce superior economic outcomes. This volume attempts to do so by collecting recent work on procyclicality in Asian financial systems. For more information on how to purchase a copy of this title, please visit palgrave.com/economics/imf/index.asp.
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Product Details

  • ISBN-13: 9781463920067
  • Publisher: INTERNATIONAL MONETARY FUND
  • Publication date: 7/27/2006
  • Sold by: Barnes & Noble
  • Format: eBook
  • File size: 4 MB

Meet the Author

STEFAN GERLACH is the former Executive Director of the Research Department at the Hong Kong Monetary Authority and Director of the Hong Kong Institute for Monetary Research. PAUL GRUENWALD is the International Monetary Fund's Resident Representative in Hong Kong SAR.

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Table of Contents

1 Introduction 1
2 Procyclicality and volatility in the financial system : the implementation of basel II and IAS 39 9
Comments on "procyclicality and volatility in the financial system : the implementation of Basel II and IAS 39" 38
3 Sources of procyclicality in East Asian financial systems 55
Comments on "sources of procyclicality in East Asian financial systems" 124
4 Procyclical financial behavior : what can be done? 137
Comments on "procyclical financial behavior : what can be done?" 161
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