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Capital Market Integration In South Asia

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Capital Market Integration in South Asia

Capital Market Integration in South Asia Book
Author : Sourajit Aiyer
Publisher : Elsevier
Release : 2016-11-03
ISBN : 0081019165
Language : En, Es, Fr & De

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Book Description :

Capital Market Integration in South Asia: Realizing the SAARC Opportunity discusses the potential Capital Market Products/Activities which can create closer inter-linkage of the South Asian capital markets and help local/global investors benefit from this economic opportunity. While some ideas may be implementable now; others have future promise as the regional markets further mature. The book demonstrates both retail and institutional investor interest in this combined high-growth region by offering scope for yield, diversification and risk mitigation, maximized upside from multiple growth markets, minimized downside through low-correlation constituents, and more. The book's core theme addresses the challenges towards deepening the awareness and acceptability of regional economies. Only when this happens will the asset flows increase into the regional market products, providing scale-up that will aid viability for these products. Presents unconventional ideas for converting SAARC’s unique opportunities into ideas for capital markets Includes socioeconomic issues as a part of the discussion Offers a unique perspective on how the region’s economic opportunities can be translated into actual products Includes numerous charts and figures on South Asia’s economic state, its financial opportunities, and projected growth

Economic and Financial Integration in South Asia

Economic and Financial Integration in South Asia Book
Author : Sanjay Sehgal,Wasim Ahmad,Piyush Pandey,Sakshi Saini
Publisher : Taylor & Francis
Release : 2020-10-25
ISBN : 1000202798
Language : En, Es, Fr & De

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Book Description :

This book analyses the current state and potential of economic and financial integration in South Asia, which has emerged as one of the most dynamic regions of the world. It looks at how regional convergences and cooperation would reinforce ties amongst the diverse economies of South Asia in the changing global economic landscape. Drawing on empirical research, the book looks at the degree of economic and financial integration in South Asia, which according to the World Bank includes the least integrated regions in the world, and explores the fundamental factors that drive integration amongst these countries. It offers important insights into the financial landscape of the region, as well as the dynamics of the interlinkages in the banking system, the stock markets, and the debt markets. The book examines the role of bilateral trade in augmenting regional economic ties, the opportunities for growth these will foster, and the major challenges and roadblocks for the leaders of the region. It also provides an overview of China’s role in South Asia’s financial integration and the interdependence of these economies for economic opportunities, macroeconomic and financial stability, jobs, sustainable growth, and inclusive development. Detailed and insightful, this book will be of great interest to investors and regional policymakers. It will also be of interest to researchers and students of economics, public and foreign policy, finance, international relations, and South Asia studies.

The Dynamics of Asian Financial Integration

The Dynamics of Asian Financial Integration Book
Author : Michael Devereux,Research Fellow at the Institute for Fiscal Studies London Professor of Finance Department of Economics Michael Devereux,Philip R Lane,Cyn-Young Park,Shang-Jin Wei
Publisher : Taylor & Francis
Release : 2011-05-03
ISBN : 1136847626
Language : En, Es, Fr & De

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Book Description :

The ongoing global financial crisis has manifested a remarkable degree of global financial integration—and its implications—for emerging Asian financial markets. The current crisis will not and should not deter the progress that the region has made toward financial openness and integration. However, events like this clearly demonstrate that financial liberalization and integration is not without risks. Hence, emerging Asian economies' growing financial ties have motivated us to look closer at the repercussions of increased financial integration and evaluate the benefits of risk sharing and better access to international capital markets against the costs of cross-border financial contagion. The crisis also presents a timely opportunity for the region’s policy makers to rethink their strategies for financial deregulation and liberalization and to reconsider a next step to integrate emerging East Asia’s financial markets further. However, doing so requires deeper understanding of financial market integration. While much has been said in both academic and policy circles about financial globalization and regional financial integration as separate areas of study, existing research has been relatively silent on the dynamics between these two distinctive forces. The book addresses this gap in financial literature and assesses financial integration in emerging East Asia at both regional and global levels. The publication studies the factors driving the progress of regional financial integration in relation to financial globalization and identifies the relevant policy challenges facing emerging market economies in the region. Chapters look into three broad aspects of regional and global financial market integration: (i) measurement of regional and global financial integration, (ii) understanding dynamics of regional financial integration versus global financial integration, and (iii) welfare implications from regional financial market integration amid financial globalization. Against this context, academics, policy makers, and other readers will appreciate the rigorous research contribution provided by the book.

Asian Capital Market Development and Integration

Asian Capital Market Development and Integration Book
Author : Asian Development Bank,Korea Capital Market Institute
Publisher : Unknown
Release : 2014-01-30
ISBN : 9780198099451
Language : En, Es, Fr & De

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Book Description :

The fiscal crisis in Europe continues to cast a shadow on the global economic outlook, and the securities issued by the United States and European nations are losing their status as traditional safe assets and reserve value. As a result, investors and governments are looking to diversify their investment portfolio with emerging markets, particularly Asian bonds. Such renewed interest has led to excessive capital inflows, making the region increasingly vulnerable to external shocks. However, on the other hand, it leads to abundant liquidity in the capital markets, which reduces financing costs and expands investment opportunities. This book analyses this dilemma and proposes that development of local bond markets and achieving greater market depth and interconnectedness is the best bet to prevent the reoccurrence of a currency crisis like 1997. It thus, assesses the progress achieved thus far in capital market integration in Asia, and compares it with its global peers. Thestudy also assesses the degree to which volatility in equity and bond market returns, driven by financial turmoil originating at both the regional and global levels, spills over into emerging Asia domestic equity and bond markets. The results of this analysis indicate that such spill-over significantly impacts both domestic equity and bond markets in the region. This finding suggests that on-going regional capital market integration initiatives should take into account the risk of contagion that regional financial integration presents, and introduce measures for mitigating such risk as a means of ensuring financial stability in the region.

Capital Market Reform in Asia

Capital Market Reform in Asia Book
Author : Masahiro Kawai,Andrew Sheng
Publisher : SAGE Publications India
Release : 2012-10-09
ISBN : 8132116984
Language : En, Es, Fr & De

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Book Description :

Capital Market Reform in Asia is a compilation of selected papers that captures the essence of the issues and challenges that contributed to capital market reform in the Asian region. The central theme of this volume is to chart the progress of capital market development in Asia after the 1997–1998 Asian financial crisis, to understand the complex process of capital market deepening in emerging market economies, and to acknowledge that in the aftermath of the global financial crisis of 2007–2009, robust Asian capital markets are crucial for mobilizing domestic savings for investments in Asia, both nationally and regionally. The book provides new insights into several important themes in capital market reforms in asia and is written by Asian financial policymakers, practitioners, scholars and experts invited by the organisation for Economic Co-operation and Development (OECD) and the Asian Development Bank Institute (ADBI).

South Asia s Integration Into the World Economy

South Asia s Integration Into the World Economy Book
Author : Anonim
Publisher : World Bank Publications
Release : 1997-01-01
ISBN : 9780821340394
Language : En, Es, Fr & De

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Book Description :

Latin America, economic policy, Caribbean area, economic stabilization, poverty, government policy.

Capital Market Integration in South Asia

Capital Market Integration in South Asia Book
Author : Sourajit Aiyer
Publisher : Elsevier
Release : 2016-11-28
ISBN : 9780081019061
Language : En, Es, Fr & De

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Book Description :

The economic opportunities set to unfold in South Asia should translate into a financial story. The objective of this book is to discuss potential Capital Market Products/Activities which can create closer inter-linkage of the South Asian capital markets, and help local/global investors benefit from this economic opportunity. While some ideas may be implementable now; others may be implementable in the future as the regional markets mature further. The purpose of this book is to show retail and institutional investor interest in this combined high-growth region by offering scope for yield, diversification and risk mitigation, maximize upside from multiple growth markets and minimize downside through low-correlation constituents; reduce information opacity in pricing; build product portfolios of smaller markets; provide access to multiple products to generate incremental volume/assets; access to a broader set of investors thus helping in valuation, liquidity and low latency for cross-listings; provide access to a diverse sectors; etc. A core focus across the theme is on how to address the challenges towards deepening the awareness and acceptability of regional economies. Only when this happens, will the asset flows increase into the regional market products, and that scale-up would aid viability for the products. Presents unconventional ideas for converting SAARC s unique opportunities into ideas for capital markets while addressing the socio-economic issue at the same timeOffers a unique perspective on how the region s economic opportunities can be translated into actual productsIncludes numerous charts and figures about South Asia s economic state, financial opportunities and projected growth"

Regional Integration and Economic Development in South Asia

Regional Integration and Economic Development in South Asia Book
Author : Sultan Hafeez Rahman,Sridhar Khatri,Hans-Peter Brunner
Publisher : Edward Elgar Publishing
Release : 2012-04-01
ISBN : 1781005249
Language : En, Es, Fr & De

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Book Description :

South Asian leaders have made it a priority to tackle key regional issues such as poverty, environment degradation, trade and investment barriers and food insecurity, among others.

Connecting South Asia and Southeast Asia

Connecting South Asia and Southeast Asia Book
Author : ADBI
Publisher : Brookings Institution Press
Release : 2016-03-08
ISBN : 4899740484
Language : En, Es, Fr & De

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Book Description :

This report analyzes how closer regional connectivity and economic integration between South Asia and Southeast Asia can benefit both regions, with a focus on the role played by infrastructure and public policies in facilitating this process. It examines major developments in South Asian–Southeast Asian trade and investment, economic cooperation, the role of economic corridors, and regional cooperation initiatives. In particular, it identifies significant opportunities for strengthening these integration efforts as a result of the recent opening up of Myanmar in political, economic, and financial terms. This is particularly the case for land-based transportation—highways and railroads—and energy trading. The report’s focus is on connectivity in a broad sense, covering both hardware and software, including investment in infrastructure, energy trading, trade facilitation, investment financing, and support for national and regional policies.

Infrastructure Financing In Asia

Infrastructure Financing In Asia Book
Author : Bambang Susantono,Donghyun Park,Shu Tian
Publisher : World Scientific
Release : 2019-11-19
ISBN : 9811215138
Language : En, Es, Fr & De

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Book Description :

First, the book documents the evolution of Asia's infrastructure over the past half-century and reviews existing literature on the role of infrastructure investment in supporting growth and social development. It highlights the positive impact of mass transit investments on land and property values, and the possibility of taxing the increase in values to finance these investments. It then examines Asia's current practices and new solutions that can help meet the infrastructure gap. It discusses the role of institutions, how innovation can foster energy infrastructure investments, and the role of bond markets in infrastructure investments. The book explores ASEAN+3 efforts in developing local currency bond markets to provide long-term local financing for infrastructure investment while providing financial resilience. It also examines the use of green bonds to finance sustainable growth in Asia.

Human Capital Development in South Asia

Human Capital Development in South Asia Book
Author : Asian Development Bank
Publisher : Asian Development Bank
Release : 2017-12-01
ISBN : 9292610392
Language : En, Es, Fr & De

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Book Description :

Human capital is an important factor for economic growth in South Asia. Between 1981 and 2010, human capital contributed about 22% of annual gross domestic product per worker growth in India. During the same period, it contributed around 21% in Bangladesh, and 16% in Sri Lanka. However, education and skills remain the binding constraint. Raising the quality of education and skills in South Asia's workforce can play a critical role in catching up to the level of development of the People's Republic of China, the Republic of Korea, and other successful Southeast Asian economies. This study reviews the development of human capital in South Asia and analyzes contributing factors to human development including policies and strategies that countries in South Asia follow.

The Emerging Asia Pacific Capital Markets Challenges and Opportunities

The Emerging Asia Pacific Capital Markets  Challenges and Opportunities Book
Author : Larry Cao,Luis Garcia-Feijóo
Publisher : CFA Institute Research Foundation
Release : 2021-05-24
ISBN : 1952927153
Language : En, Es, Fr & De

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Book Description :

Emerging and frontier financial markets in the Asia-Pacific region have experienced significant changes in recent years in areas affecting regulation, market participants, and products. This collection presents perspectives from authors in local markets who provide their analysis of the history, current development, and future outlook for 11 countries: Bangladesh, Cambodia, India, Indonesia, Malaysia, Mongolia, Pakistan, the Philippines, Sri Lanka, Thailand, and Vietnam. The brief should be particularly valuable for prospective investors interested in learning about regulatory developments, market structure, and financial history in the region.

Economic Outlook for Southeast Asia China and India 2019 Towards Smart Urban Transportation

Economic Outlook for Southeast Asia  China and India 2019 Towards Smart Urban Transportation Book
Author : OECD
Publisher : OECD Publishing
Release : 2018-12-20
ISBN : 9264307699
Language : En, Es, Fr & De

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Book Description :

The Economic Outlook for Southeast Asia, China and India is a bi-annual publication on regional economic growth, development and regional integration in Emerging Asia. It focuses on the economic conditions of Association of Southeast Asian Nations (ASEAN) member countries: Brunei Darussalam ...

ASEAN Economic Integration

ASEAN Economic Integration Book
Author : Anonim
Publisher : Unknown
Release : 2022-11-30
ISBN : 9814477346
Language : En, Es, Fr & De

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Book Description :

Download ASEAN Economic Integration book written by , available in PDF, EPUB, and Kindle, or read full book online anywhere and anytime. Compatible with any devices.

Economic and Financial Integration in South Asia

Economic and Financial Integration in South Asia Book
Author : Sanjay Sehgal,Wasim Ahmad,Piyush Pandey,Sakshi Saini
Publisher : Taylor & Francis
Release : 2020-10-25
ISBN : 1000202658
Language : En, Es, Fr & De

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Book Description :

This book analyses the current state and potential of economic and financial integration in South Asia, which has emerged as one of the most dynamic regions of the world. It looks at how regional convergences and cooperation would reinforce ties amongst the diverse economies of South Asia in the changing global economic landscape. Drawing on empirical research, the book looks at the degree of economic and financial integration in South Asia, which according to the World Bank includes the least integrated regions in the world, and explores the fundamental factors that drive integration amongst these countries. It offers important insights into the financial landscape of the region, as well as the dynamics of the interlinkages in the banking system, the stock markets, and the debt markets. The book examines the role of bilateral trade in augmenting regional economic ties, the opportunities for growth these will foster, and the major challenges and roadblocks for the leaders of the region. It also provides an overview of China’s role in South Asia’s financial integration and the interdependence of these economies for economic opportunities, macroeconomic and financial stability, jobs, sustainable growth, and inclusive development. Detailed and insightful, this book will be of great interest to investors and regional policymakers. It will also be of interest to researchers and students of economics, public and foreign policy, finance, international relations, and South Asia studies.

Capital Markets and Investment Decision Making

Capital Markets and Investment Decision Making Book
Author : Raj S. Dhankar
Publisher : Springer
Release : 2019-04-25
ISBN : 813223748X
Language : En, Es, Fr & De

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Book Description :

This book discusses capital markets and investment decision-making, focusing on the globalisation of the world economy. It presents empirically tested results from Indian and Southwest Asian stock markets and offers valuable insights into the working of Indian capital markets. The book is divided into four parts: the first part examines capital-market operations, particularly clearance and settlement processes, and stock market operations. The second part then addresses the functioning of global markets and investment decisions; more specifically it explores calendar anomalies, dependencies, overreaction effect, causality effect and stock returns volatility in South Asia, U.S. and global stock markets as a whole. Part three covers issues relating to capital structure, values of firm and investment strategies. Lastly, part four discusses emerging issues in finance like behavioral finance, Islamic finance, and international financial reporting standards. The book fills the gap in the existing finance literature and helps fund managers and individual investors make more accurate investment decisions.

Financial Market Regulations and Legal Challenges in South Asia

Financial Market Regulations and Legal Challenges in South Asia Book
Author : Kashyap, Amit K.
Publisher : IGI Global
Release : 2016-03-17
ISBN : 1522500057
Language : En, Es, Fr & De

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Book Description :

South Asia has experienced a long period of robust economic growth. While many regulatory policies have helped usher in this prosperous growth, some markets have plateaued due to hardships such as the decline in foreign remittance and international credit lines, and a contraction of exports. To continue to grow, the nations in this region must begin to integrate into the globalized world economy. Financial Market Regulations and Legal Challenges in South Asia addresses the difficulties and challenges of the regulatory environment in South Asia. This research-based publication outlines the apparent issues and resolutions as these developing nations transition into global economic players. This book is an excellent resource for policy makers, researchers and students in the financial field, government officials, bankers, and financial market regulators.

International Economic Integration and Asia

International Economic Integration and Asia Book
Author : Michael G. Plummer,Erik Jones
Publisher : World Scientific
Release : 2006
ISBN : 9812567577
Language : En, Es, Fr & De

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Book Description :

Regional economic integration has become a key force in international commercial policy in the 2000s. Europe has traditionally embraced regionalism; the United States became actively involved in preferential trading arrangements only in the 1980s. While Asia has been late in accepting formal regional economic integration accords, all Asian countries are now in the process of creating various free-trade areas and other forms of economic integration programs, and some are already in place. This volume analyzes the regionalism trend from an Asian perspective. It considers the lessons from, and the economic implications of, various economic integration programs in the OECD (mostly the EU but also NAFTA), as well as the proposals for closer economic integration in the region itself. Chapters deal with both real and financial integration issues.

Emerging Capital Markets and Globalization

Emerging Capital Markets and Globalization Book
Author : Augusto de la Torre,Sergio Schmukler
Publisher : World Bank Publications
Release : 2006-10-20
ISBN : 9780821365441
Language : En, Es, Fr & De

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Book Description :

Back in the early 1990s, economists and policy makers had high expectations about the prospects for domestic capital market development in emerging economies, particularly in Latin America. Unfortunately, they are now faced with disheartening results. Stock and bond markets remain illiquid and segmented. Debt is concentrated at the short end of the maturity spectrum and denominated in foreign currency, exposing countries to maturity and currency risk. Capital markets in Latin America look particularly underdeveloped when considering the many efforts undertaken to improve the macroeconomic environment and to reform the institutions believed to foster capital market development. The disappointing performance has made conventional policy recommendations questionable, at best. 'Emerging Capital Markets and Globalization' analyzes where we stand and where we are heading on capital market development. First, it takes stock of the state and evolution of Latin American capital markets and related reforms over time and relative to other countries. Second, it analyzes the factors related to the development of capital markets, with particular interest on measuring the impact of reforms. And third, in light of this analysis, it discusses the prospects for capital market development in Latin America and emerging economies and the implications for the reform agenda.

International Economic Integration and Asia

International Economic Integration and Asia Book
Author : Michael G. Plummer,Erik Jones
Publisher : World Scientific
Release : 2006
ISBN : 9812773770
Language : En, Es, Fr & De

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Book Description :

Regional economic integration has become a key force in international commercial policy in the 2000s. Europe has traditionally embraced regionalism; the United States became actively involved in preferential trading arrangements only in the 1980s. While Asia has been late in accepting formal regional economic integration accords, all Asian countries are now in the process of creating various free-trade areas and other forms of economic integration programs, and some are already in place. This volume analyzes the regionalism trend from an Asian perspective. It considers the lessons from, and the economic implications of, various economic integration programs in the OECD (mostly the EU but also NAFTA), as well as the proposals for closer economic integration in the region itself. Chapters deal with both real and financial integration issues. Sample Chapter(s). Chapter 1: East Asian Economic Regionalism: Progress and Challenges (1,660 KB). Contents: Introduction (M G Plummer & E Jones); East Asian Economic Regionalism: Progress and Challenges (M Kawai); Sequencing Regional Integration in Asia (R Pomfret); ASEAN+3: Is an Economic Community in Their Future? (J Angresano); Stock Market Performance in ASEAN: Is Institutional Integration Warranted? (R W Click & M G Plummer); The Institution of a Single Currency Area: Lessons for Asia from the European Monetary Union (S Rossi); Deep Integration and Its Impacts on Non-Members: EU Enlargement and East Asia (H Lee & D van der Mensbrugghe); Small Change: A Critical Examination of the Economic Relationship Between South Asia and the European Union (J W Moses and Maggi Brigham); The Effects of North-South Regional Trade Policies: A Comparison of Mediterranean Countries with ASEAN (N P(r)ridy); Reconciling the Tensions Between Regional Integration and Cohesion (M Farrell); Lessons for Asia? Legitimacy and Quasi-Democratic Mechanisms in European and American Market Integration (C Parsons & J D Richardson). Readership: Academics, policymakers, professionals and students interested in applied international economics and Asian economic integration.