Implications of the Global Financial Crisis for Financial Reform and Regulation in Asia

Edited by Masahiro Kawai, Project Professor, Graduate School of Public Policy, The University of Tokyo, Japan, the late David G. Mayes, formerly Professor of Banking and Financial Institutions, Director, Europe Institute and Director, NZ Governance Centre, University of Auckland, New Zealand and Peter J, Morgan, Senior Consultant for Research, Asian Development Bank Institute, Tokyo, Japan

• Contents:Preface1. The Global Financial Crisis and its Implications for Financial Sector Reform and Regulation in AsiaDavid G. Mayes and Peter J. MorganPART I: FINANCIAL SURVEILLANCE AND REGULATION TO PREVENT CRISES2. Strengthening Systemic Financial RegulationMasahiro Kawai and Michael Pomerleano3. Enlisting Macroprudential and Market Regulatory Structures to Strengthen Prudential SupervisionLarry D. Wall4. Dynamic Provisioning: Some Lessons from ExperienceSantiago Fernández de Lis and Alicia García-Herrero5. Securitized Products, Financial Regulation and Systemic RiskMariko Fujii6. Liberalization and Regulation of Capital Flows: Lessons for Emerging Market EconomiesRakesh Mohan and Muneesh KapurPART II: REGIONAL FINANCIAL MONITORING AND COORDINATION7. The Financial Crisis: A Wake-up Call for Strengthening Regional Monitoring of Financial Markets and Regional Coordination of Financial Sector Policies?Adalbert Winkler8. Regional Monitoring of Capital Flows and Coordination of Financial Regulation: Stakes and Options for AsiaMichael G. PlummerPART III: FINANCIAL CRISIS MANAGEMENT AND RESOLUTION9. The Role of State Intervention in the Financial Sector: Crisis Prevention, Containment and ResolutionYoon Je Cho10. The Role of the State in Managing and Forestalling Systemic Financial Crises: Some Issues and PerspectivesCharles AdamsPART IV: PROMOTION OF ASIAN BOND MARKETS11. Developing Asian Local Currency Bond Markets: Why and How?Mark M. Spiegel12. Foreign Bond Markets and Financial Market Development: International PerspectivesJonathan A. Batten, Warren P. Hogan and Peter G. SzilagyiIndex

‘This book adds tremendous value to the current literature on global financial reform. It should be read by students and academics involved in global finance, but also by policy­makers tasked with developing the regulatory framework for Asia's financial system.’