Finance in Asia
Institutions, Regulation and Policy
Routledge – 2012 – 610 pages
Asia’s demand for second-generation financial institutions and markets needs to be met in order for the region’s further development to be sustained. This book provides a compelling, fact-based assessment of current practices and regulations in Asia’s financial institutions and markets and carefully documents the exciting opportunities and challenges that lie ahead in the region’s financial systems.
This book differs in design from typical treatments of financial institutions and markets because its focus is on Asia rather than using the US model (in terms of market configurations or products) as a benchmark, and its takes a contemporary and forward-looking view of financial markets.
Examples of practice from Asia are used to illustrate major accepted themes in finance and financial regulation. To the extent that Asia’s main economies share characteristics that are distinct, for example, in the relationship between government and the banking sector, or in aspects of corporate governance, the book will discuss the consequences for market operation and intermediation.
The book’s carefully structured facts and rigorously argued analysis carry important implications both for students in business and law and for professionals new to financial markets in Asia. It will change the way that Asian financial markets and institutions is taught in universities as well as provide a valuable resource for professionals working in finance in Asia.
"The book is written in an accessible, charming and literate style. This is particularly rare given its subject matter. The clarity of the writing indicates a real depth of understanding…I believe, in time, this will become a standard reference work that those working in oen aspect of the financial markets in the region will reach more, regularly, to inform themselves about other aspects of finance in their rgion or their field in other parts of the region…Equally, this book will serve finance and economics students admirably, as it is a deeply insightful, thorough and comprehensive treatment…I am a big fan of this work. It was six years in the writing and all the better for it. I commend the authors for their efforts." - Ross Buckley, CIFR King & Wodo Mallesons Professor of International Finance Law, University of New south Wales, Sydney
Introduction 1. Asia's Development Model 2. Finance in Asia 3. Challenges to Development & Finance 4. Financial Systems & Practice 5. Institutional Foundations of Finance 6. Credit Risk & Commercial Banking 7. Investment Banking & Financial Innovation 8. Debt Securities, Derivatives & Complex Transactions 9. Equity Securities, Organised Markets & Corporate Governance 10. Acquisitions, Corporate Finance & Control 11. Non-bank and non-traditional intermediation 12. Regional Financial Integration 13. The Future of Finance in Asia Glossary Bibliography Table of Cases & Statutes
Qiao Liu is Professor of Finance and Economics in the Guanghua School of Management at Peking University.
Paul Lejot is Visiting Fellow at the Asian Institute of International Financial Law at the University of Hong Kong.
Douglas W. Arner is Professor and Head of the Department of Law in the Faculty of Law of the University of Hong Kong.