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 2008ǃÏ2009. 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 studyǃÙs 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and interactive that our current tools and institutional structure to deal with critical episodes are completely outdated.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.

Author: Sheng, Andrew
Publisher: Cambridge University Press
Illustration: N
Language: ENG
Title: From Asian to Global Financial Crisis
Pages: 00488 (Encrypted PDF)
On Sale: 2005-12-02
SKU-13/ISBN: 9780521118644
Category: Business & Economics : Finance
Category: Business & Economics : Money & Monetary Policy
Category: Business & Economics : Economic Conditions