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Monetary aggregates and procyclicality of the financial system: an Asian perspective

In: Global Shock, Risks, and Asian Financial Reform

Author

Listed:
  • Joon-Ho Hahm
  • Hyun Song Shin
  • Kwanho Shin

Abstract

The growth of financial markets has clearly outpaced the development of financial market regulations. With growing complexity in the world of finance and the resultant higher frequency of financial crises, all eyes have shifted toward the current inadequacy of financial regulation. This book expertly examines what this episode means for Asia’s financial sector and its stability, and what the implications will be for the region’s financial regulation. By focusing on legal and institutional frameworks the book also elaborates on various issues and challenges in terms of how financial liberalization can maximize the benefits and minimize the risks of crisis.

Suggested Citation

  • Joon-Ho Hahm & Hyun Song Shin & Kwanho Shin, 2014. "Monetary aggregates and procyclicality of the financial system: an Asian perspective," Chapters, in: Iwan J. Azis & Hyun S. Shin (ed.), Global Shock, Risks, and Asian Financial Reform, chapter 2, pages 22-73, Edward Elgar Publishing.
    • Handle: RePEc:elg:eechap:15939_2
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    References listed on IDEAS

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    1. Forbes, Kristin J. & Warnock, Francis E., 2012. "Capital flow waves: Surges, stops, flight, and retrenchment," Journal of International Economics, Elsevier, vol. 88(2), pages 235-251.
    2. Joon-Ho Hahm & Hyun Song Shin & Kwanho Shin, 2013. "Noncore Bank Liabilities and Financial Vulnerability," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 45, pages 3-36, August.
    3. Adrian, Tobias & Shin, Hyun Song, 2010. "Liquidity and leverage," Journal of Financial Intermediation, Elsevier, vol. 19(3), pages 418-437, July.
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    Cited by:

    1. Yaman Hajja, 2022. "Impact of bank capital on non‐performing loans: New evidence of concave capital from dynamic panel‐data and time series analysis in Malaysia," International Journal of Finance & Economics, John Wiley & Sons, Ltd., vol. 27(3), pages 2921-2948, July.

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