From Asian to global financial crisis [Texte imprimé] : an Asian regulator's view of unfettered finance in the 1990s and 2000s / Andrew Sheng, Monographie imprimée

Main Author: Sheng, Andrew, AuteurLanguage: anglais.Country: GrandeBretagne.Publication : Cambridge, New York : Cambridge University Press, cop. 2009Description: 1 vol. (XIV-489 p.) : ill., couv. ill. ; 23 cmISBN: 978-0-521-11864-4; 9780521118644; 0-521-11864-6; 0521118646; 978-0-521-13415-6; 9780521134156; 0-521-13415-3; 0521134153.Dewey: 330.95/0429, 22Abstract: "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 current 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and interactive that our current tools and institutional structure to deal with critical episodes are completely outdated.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"--Provided by publisher.Bibliography: Bibliogr. p. 433-463. Notes bibliogr. Index.Subject - Topical Name: Crises financières -- Asie 1990- | Finances, Asie
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Bibliogr. p. 433-463. Notes bibliogr. Index

"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 current 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and interactive that our current tools and institutional structure to deal with critical episodes are completely outdated.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"--Provided by publisher

P. 21 Things fall apart P. 44 Japan and the Asian crisis P. 71 The beam in our eyes P. 86 Banking: the weakest link P. 109 Washington consensus and the IMF P. 126 Thailand : the karma of globalization P. 159 South Korea : strong body, weak heart P. 187 Malaysia : the country that went its own way P. 218 Indonesia : from economic to political crisis P. 253 Hong Kong : unusual times need unusual action P. 278 China : rise of the dragon P. 303 From crisis to integration P. 325 The new world of financial engineering P. 350 What's wrong with financial regulation? P. 375 The global financial meltdown P. 396 A crisis of governance

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