In the aftermath of the recent global financial crisis, an impressive number of books have been written with the aim of understanding the causes of the event and proposing recipes for a quick (and not-so-quick) solution to the problems that resulted. Although the majority of these writings focus on aspects related to geographical areas thought to be the epicenter of the financial turmoil (that is, North America and Europe), very few have considered the consequences of this episode for other important geographical areas, including Asia. This is rather surprising, as financial markets have reached an unprecedented level of international integration and the Asian region has been in the spotlight for various reasons. This book fills this gap and provides a very comprehensive analysis of the implications of the recent crisis for Asia's financial sector and the development of its financial regulation. The outcome is a fine reader of policy-oriented contributions addressing questions that are very relevant to the current debate on the development of a new global financial architecture. The book is structured as a collection of papers comprised in four major sections dealing with highly integrated issues: 1) macro-prudential supervision, 2) legal and institutional frameworks, 3) financial integration, co-operation, and financial stability, and 4) financial supervision.
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