Summary
The ever-growing deepening, maturity, sophistication, and integration of Asia’s financial systems bring an increased risk of contagion during periods of financial distress. As a result, investment in financial safety nets for cushioning against the negative impacts of financial contagion is necessary. Further, there remains to be addressed the issue of the impact on Asia of the financial reform measures being initiated at the global level in response to the crisis of 2008.
This book lays out an analytical framework for addressing capital market integration at the regional level. It also projects the likely impacts of regional capital market integration by operationalizing this framework through the application of updated data.
This is a copublishing effort between ADB and Korea Capital Market Institute (KCMI), with further collaboration by the Peterson Institute for International Economics.