IDEAS home Printed from
MyIDEAS: Log in (now much improved!) to save this article

Financial Markets, Institutions, and Integration in East Asia

Listed author(s):
  • Gordon de Brouwer

    (Asia-Pacific School of Economics and Management Australian National University Canberra ACT 0200 Australia)

Registered author(s):

    East Asia has enormous scope to upgrade and integrate its financial markets, covering the spectrum of equity, bond, foreign-exchange, and derivatives markets. Financial markets and institutions in East Asia tend to be narrow and undeveloped, although there are important exceptions. Japan dominates the top tier of the region's markets by virtue of its size, but its markets are not advanced, and many of its private institutions are weak. Although the markets in Australia, Hong Kong SAR, and Singapore are smaller than those of Japan, they are more innovative, market-oriented, and technologically advanced. Markets in Malaysia, South Korea, Taiwan, and Thailand have made substantial progress to varying degrees; but China, Indonesia, and the Philippines have a considerable way to go in developing the information and governance infrastructure that financial markets need to function well. For all these countries, there is a clear role for regional cooperation among policymakers in building capacity in, and links between, financial markets in East Asia, as well as in encouraging stable speculation and the participation of nonresident and institutional investors in domestic financial markets. ASEAN+3 is an important and welcome advance in regional cooperation, but its membership does not span the depth of experience in financial markets and institutions that exists in East Asia. Copyright (c) 2003 Center for International Development and the Massachusetts Institute of Technology.

    If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.

    File URL:
    File Function: link to full text
    Download Restriction: Access to full text is restricted to subscribers.

    As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.

    Article provided by MIT Press in its journal Asian Economic Papers.

    Volume (Year): 2 (2003)
    Issue (Month): 1 ()
    Pages: 53-80

    in new window

    Handle: RePEc:tpr:asiaec:v:2:y:2003:i:1:p:53-80
    Contact details of provider: Web page:

    Order Information: Web:

    No references listed on IDEAS
    You can help add them by filling out this form.

    This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

    When requesting a correction, please mention this item's handle: RePEc:tpr:asiaec:v:2:y:2003:i:1:p:53-80. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Kristin Waites)

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If references are entirely missing, you can add them using this form.

    If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    This information is provided to you by IDEAS at the Research Division of the Federal Reserve Bank of St. Louis using RePEc data.