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 aim of the quantity is to supply a few history at the numerous monetary industry segments of the Asian Pacific sector. An figuring out of institutional element (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 aspect offers details which can endure at the statistical result of the empirical research. The 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 offering a linkage to overseas capital markets are as very important to rising markets as to built international locations.

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Extra info for Asia Pacific Financial Markets in Comparative Perspective: Issues and Implications for the 21st Century, Volume 86 (Contemporary Studies in Economic and Financial Analysis)

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The OTC market should continue to develop within the structure laid down recently within China. Although the regulatory system in the OTC market in most western countries is not a major concern for the government, due to the moral risk involved in the Chinese derivatives market, certain measures may be needed, Asia Pacific Financial Markets in Comparative Perspective 19 such as the possible implementation of a Derivatives Product Company. Equity based-derivatives such as Contracts for Difference, could be traded in this market in the near future along with currency derivatives.

Koch, T. W. (1991). Evaluation in dynamic linkages across daily national stock indexes. Journal of International Money and Finance, 10, 231–251. , & Endo, Y. (2000). Establishing new financial markets in Japan. NRI Papers No. 6, Nomura Research Institute. Kwan, C. H. (1996). A yen block in Asia: An integrative approach. Journal of the Asia Pacific Economy, 1, 1–21. , & Larker, D. (1989). Executive stock option plans and corporate dividend policies. Journal of Financial and Quantitative Analysis, 24, 409–425.

Inspection of the table reveals a number of salient features of the region’s trading patterns. The Role of the Japanese Yen 39 First, looking down the column labelled NSA in Panel B of the table, we can see that five countries are highly integrated within the region. e. countries in the region excluding Japan. 6 per cent). The remaining four countries are moderately integrated within the region. Using the data for 2000, between a fifth and a third of all their trade is with NSA countries. 5 per cent).

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