From Asian to Global Financial Crisis: An Asian Regulator's View of Unfettered Finance in the 1900s and 2000s

By: Andrew Sheng

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This is a unique insider account of the new world of unfettered finance. The author, an Asian regulator, examines how old mindsets, market fundamentalism, loose monetary policy, carry trade, lax supervision, greed, cronyism, and financial engineering caused both the Asian crisis of the late 1990s and the global crisis of 2008–2009. This book shows how the Japanese zero interest rate policy to fight deflation helped create the carry trade that generated bubbles in Asia whose effects brought Asian economies down. The study’s main purpose is to demonstrate that global finance is so interlinked and interactive that our current tools and institutional structure to deal with critical episodes are completely outdated. The book explains how current financial policies and regulation failed to deal with a global bubble and makes recommendations on what must change. Contents Introduction 1. Things fall apart 2. Japan and the Asian crisis 3. The beam in our eyes 4. Banking: the weakest link 5. Washington consensus and the IMF 6. Thailand: the karma of globalization 7. South Korea: strong body, weak heart 8. Malaysia: the country that went her own way 9. Indonesia: from economic to political crisis 10. Hong Kong: unusual times need unusual action 11. China: rise of the dragon 12. From crisis to integration 13. The new world of financial engineering 14. What's wrong with financial regulation? 15. The global financial meltdown 16. A crisis of governance Appendices: From Asian to global crisis: chronology of notable events Abbreviations and acronyms. Printed Pages: 488 with 16 b/w illustrations and 62 tables.

Title: From Asian to Global Financial Crisis: An Asian Regulator's View of Unfettered Finance in the 1900s and 2000s

Author Name: Andrew Sheng

Categories: Finance, Economics,

Edition: First Edition

Publisher: Cambridge, UK, Cambridge University Press: 2010

ISBN: 052116821X

ISBN 13: 9780521168212

Binding: Paperback

Book Condition: New

Size: 150 x 230 Mm

Seller ID: 033172

Keywords: Financial Crisis Finance