Procyclicality of Financial Systems in Asia

Procyclicality of Financial Systems in Asia

by Stefan Gerlach, Mr. Paul F. Gruenwald
     
 

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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…  See more details below

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.

Product Details

ISBN-13:
9781463920067
Publisher:
INTERNATIONAL MONETARY FUND
Publication date:
07/27/2006
Sold by:
Barnes & Noble
Format:
NOOK Book
File size:
3 MB

Meet the Author

DAVID BURTON Director, Asia and Pacific Department, International Monetary Fund (IMF), USA
R. SEAN CRAIG Senior Economist, Monetary and Financial Systems Department, International Monetary Fund (IMF), USA
E. PHILIP DAVIS Professor of Economics and Finance, Brunel University, UK
CHARLES GOODHART Professor of Economics, London School of Economics and Political Science, UK
MÁR GUDMUNDSSON Deputy Head, Monetary and Economic Department, Bank for International Settlements, Switzerland
HAN MINGZHI Director-General, International Department, China Banking Regulatory Commission, China
EIJI HIRANO Assistant Governor, Bank of Japan, Japan
STEFAN INGVES former Director, Monetary and Financial Systems Department, International Monetary Fund (IMF), USA
PHILIP LOWE Director General of Competition, European Commission, Italy
ANTONIO GARCIA PASCUAL Western Hemisphere Department, International Monetary Fund (IMF), USA
WILLIAM A. RYBACK Deputy Chief Executive, Hong Kong Monetary Authority, Hong Kong
ANDREW SHENG Chairman, Hong Kong Securities and Futures Commission, Hong Kong
GLENN STEVENS Deputy Governor, Reserve Bank of Australia, Australia
ASHLEY TAYLOR Economics Department, London School of Economics and Political Science, UK
JOSÉ VIÑALS Director General, International Affairs, Banco de España, Spain
TARISA WANTANAGASE Deputy Governor, Financial Institutions Stability, Bank of Thailand, Thailand

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