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The changing structure of financial intermediation in Asia: Benefits and risks

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  • Caroline Roulet

Abstract

Over the past two decades, Asian economies have experienced rapid capital market growth and profound changes in the structure of their financial systems. This paper analyses key developments in advanced and emerging Asian economies since the global financial crisis, focusing on market intermediation of sovereign and corporate debt, equity market development, and the growth of alternative finance and structured products. This enables a forward-looking assessment of the extent to which developments in the medium term may contribute to rising risks in the stability of financial intermediation and sustainable long-term growth with a view to informing policy discussions on economic opportunities and associated risks.

Suggested Citation

  • Caroline Roulet, 2020. "The changing structure of financial intermediation in Asia: Benefits and risks," OECD Working Papers on Finance, Insurance and Private Pensions 45, OECD Publishing.
  • Handle: RePEc:oec:dafaad:45-en
    DOI: 10.1787/70cce5a7-en
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    More about this item

    JEL classification:

    • F34 - International Economics - - International Finance - - - International Lending and Debt Problems
    • F42 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - International Policy Coordination and Transmission
    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages
    • G23 - Financial Economics - - Financial Institutions and Services - - - Non-bank Financial Institutions; Financial Instruments; Institutional Investors

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