Asia Pacific Financial Markets in Comparative Perspective: by Thomas A. Fetherston, Jonathan A. Batten, T. a. Fetherston

By Thomas A. Fetherston, Jonathan A. Batten, T. a. Fetherston

The objective of the amount is to supply a few history at the a variety of monetary marketplace segments of the Asian Pacific area. An knowing of institutional aspect (size and scope) of the appropriate markets provides a view that lends or detracts from the credibility of intermarket comparisons. An publicity and knowing of institutional element offers info which may endure at the statistical result of the empirical research. The very important roles performed bycapital markets of pricing capital, issuing new stocks, offering a liquidity-creating secondary function, serving as a motor vehicle for asset move, and delivering a linkage to overseas capital markets are as vital to rising markets as to built nations.

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Murphy, K. (2002). Stock options for undiversified executives. Journal of Accounting and Economics, 33, 3–42. 24 JONATHAN A. BATTEN AND THOMAS A. , & Ng, V. (1990). Correlations in price changes and volatility across international stock markets. Review of Financial Studies, 3, 281–307. , & Montiel, P. (2002). Post-crisis exchange rate policy in five Asian countries: Filling in the ‘hollow middle’? IMF Working Paper, code: WP/01/170. , & Yonetani, T. (2001). Analysis of credit spread in Japan’s corporate bond market.

The underlying constraints on corporate bond market development in South East Asia. World Development, 29(8), 1405–1419. Shirai, S. (2001). Overview of financial market structures in Asia – cases of the Republic of Korea, Malaysia, Thailand and Indonesia. Asian Development Bank Institute Research Paper, 25. Taylor, M. P. (1999). Asset price bubbles, risky lending and the East Asian Crisis, Center for Financial Studies, Warwick Business School, University of Warwick, Working Paper, November. , & Lee, U.

Asia Pacific Financial Markets in Comparative Perspective 17 It further compares their differences and effectiveness. Additionally, through the fluctuation rate of GDP, stock indexes, exchange rates, currency inflation, unemployment rates and other macro-variables found in the 10 countries of Eastern Asia during the period 1993–2002. He utilizes Mann-Whitney U Test and Intervention Analysis to compare the differences for pre- and post-financial crisis in Asia. This is also used in further analyzing the concrete effectiveness of the financial reforms of 10 countries of Eastern Asia.

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