DESTRUCTIVE CREATIVITY OF WALL STREET AND THE EAST ASIAN RESPONSE - Hardcover

HENG MICHAEL SIAM-HENG & LIM TAI WEI

9789814273787: DESTRUCTIVE CREATIVITY OF WALL STREET AND THE EAST ASIAN RESPONSE

Hardcover

ISBN 10: 9814273783 ISBN 13: 9789814273787

Publisher: World Scientific Publishing, 2009

Examines why Asian economies have been less affected by the global financial crisis. This book reaffirms the need for banks and financial institutions to provide value-adding services, exercise prudence and due diligence and pay due regard for societal interest.

"synopsis" may belong to another edition of this title.

From the Inside Flap:

The current financial crisis provides a valuable occasion for the world to re-examine the grand statements of wisdom which dominate the financial world for a long time. The impact is extremely serious as a result of the convergence of a number of factors such as huge current account deficits of the United States, globalization, deregulation, loose monetary policy, and excessive liquidity. This book seeks to address the critical issues in deregulation, derivatives, leveraging, remuneration systems, and rating agencies.

This book will also examine Asia's response and why Asian economies have been less affected by the global financial crisis. Are corporate governance, culture, management styles or even a state-led model the main reasons? Would the Asian sovereign funds help to be the last line of defense against the excesses of the crisis? Is the US$80 billion Asian crisis fund envisaged as the first instance of a coordinated East Asian response to the crisis and would this truly underpin the creation of an East Asian regional order? This book reaffims the need for banks and financial institutions to provide value-adding services, exercise prudence and due diligence and pay due regard for societal interest.

"About this title" may belong to another edition of this title.