1.

Record Nr.

UNINA9910780906403321

Autore

Heng Michael S. H. <1948->

Titolo

Destructive creativity of Wall St. and the East Asian response [[electronic resource] /] / Michael Heng Siam-Heng, Lim Tai Wei

Pubbl/distr/stampa

Singapore ; ; Hackensack, NJ, : World Scientific, c2009

ISBN

1-282-44287-2

9786612442872

981-4273-79-1

Descrizione fisica

1 online resource (267 p.)

Altri autori (Persone)

LimTai-Wei

Disciplina

330.95/0429

Soggetti

Financial crises - East Asia - History - 20th century

Financial crises - History - 21st century

Lingua di pubblicazione

Inglese

Formato

Materiale a stampa

Livello bibliografico

Monografia

Note generali

Description based upon print version of record.

Nota di bibliografia

Includes bibliographical references (p. 227-247) and index.

Nota di contenuto

Introduction -- Potted history of banking and finance -- In the shadow of depression? -- Financial engineering, or what can go wrong will -- Financial architecture, 1 -- Financial architecture, 2 -- Reforming the IMF : from fire fighting to fire prevention -- Regulation and deregulation -- Back to basics -- Counter-cyclical measures -- Some deeper issues -- The 1997 Asian financial crisis -- Ten years after the Asian financial crisis : positive lessons learned -- Ten years after the Asian financial crisis : negative lessons learned -- Deconstructing the state-led model -- Reforming the state-led model -- The global financial crisis 2008 -- Impact and immediate response to the crisis in East Asia -- Coordinating with the region and the world -- ASEAN economic regionalism : a regional financial architecture in the making? -- Forming an economic community -- A shift in power center? -- What now? -- Coping with challenges.

Sommario/riassunto

The current financial crisis provides a valuable occasion for the world to re-examine the grand statements of wisdom which dominate the financial world for a long time. The impact is extremely serious as a result of the convergence of a number of factors such as huge current account deficits of the United States, globalization, deregulation, loose monetary policy, and excessive liquidity. This book seeks to address



the critical issues in deregulation, derivatives, leveraging, remuneration systems, and rating agencies. This book will also examine Asia's response and why Asian economies have bee