From Asian to Global Financial Crisis

An Asian Regulator's View of Unfettered Finance in the 1990s and 2000s

Business & Finance, Finance & Investing, Finance, Nonfiction, History
Cover of the book From Asian to Global Financial Crisis by Andrew Sheng, Cambridge University Press
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Author: Andrew Sheng ISBN: 9781107712812
Publisher: Cambridge University Press Publication: September 28, 2009
Imprint: Cambridge University Press Language: English
Author: Andrew Sheng
ISBN: 9781107712812
Publisher: Cambridge University Press
Publication: September 28, 2009
Imprint: Cambridge University Press
Language: English

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 2008–9. 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 study's 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and interactive that our current tools and institutional structure to deal with critical episodes are completely outdated.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.

View on Amazon View on AbeBooks View on Kobo View on B.Depository View on eBay View on Walmart

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 2008–9. 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 study's 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and interactive that our current tools and institutional structure to deal with critical episodes are completely outdated.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.

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