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Post-crisis policy measures in Asia have focussed on banking sector and market reform. The paper argues that in order to propel growth, banking and market reform in Asia must be undertaken with the view that they are not mutually exclusive competitive tradeoffs. Rather banks and markets must be viewed as complementary supportive pillars in a financial system. Additionally, legal and functional reform must be undertaken simultaneously. The paper proposes that a likely consequence of doing so will enable creating a four-pillared multi-dimensional growth paradigm in the region to help restore and promote growth.

This chapter investigates the impact of the euro crisis on Asia’s short-term economic outlook. This chapter tries to answer this question by examining both the trade and financial channels of crisis transmission. More specifically, it looks at the effect of euro crisis on Asian exports and growth, contagion from EU financial markets to Asian financial markets, and influence of EU bank lending on credit growth in Asia. The chapter also touches upon Asia’s policy space to assess how well the region is positioned to weather another major external shock. This chapter finds that the impact of euro crisis on developing Asia points to a sizable but manageable short-term impact. Furthermore, our analysis points to a significant effect on the region’s financial systems, especially its banking sector. This chapter informs policymakers of the impact of the euro crisis and advice to continue to keep a close eye on eurozone developments and their ramifications for their economies.

Since 1980, property cycles have emerged emphatically as a phenomenon of urban development in both developed and developing countries. Among the many things which need to be explained is the continuing high levels of financial investment in property sectors, even well past the time when supply exceeds demand and vacancy rates continue to grow. Various intellectuals have put forward new theories and some situational explanations of the periodic over‐capitalisation in property. The economic adversities are not confined to the property and finance sectors. They extend into the socio‐economic performance of national economies, and in some cases they have international linkages and impacts. Gives exposition and evaluation relating to cyclicity in the USA, the UK, Japan, and some developing countries in Asia. The aim is mainly centred on explanation and theory, extending earlier published work in the authors’ research programmes in property cycles, urban development, and experience in both developing and developed countries. The economic, social, and political significance of property cycles is enormous.

During recent decades, there has been a significant transition or “reinvention” in the mode of state governance in both developed and developing nations. In line with this global trend, most Southeast Asian countries have restructured the traditional state-centric mode of governance or the so-called “developmental state” in favor of market-led neoliberal reforms and policies, often under external pressure or persuasion. This new mode of state governance favoring global market forces has serious implications for economic sovereignty and self-reliant development in the region. In this regard, this article attempts to examine major domains and directions of reinvention in governance in Southeast Asian countries. It also explores the critical impacts of this recent market-driven reinvention on the economic sovereignty and self-reliance of these countries

The Asian crisis, which exploded in Thailand in July 1997 initially, spilled to the other ASEAN countries (Indonesia, Malaysia, and Philippines) and later it spreads to Korea and even crossing the continent to Russia and Brazil. The chronological pattern seems to indicate the contagious behaviour of the crisis. However, the sequential economic down‐turns that occurred in the Asia Pacific do look like a contagion effect. The idea that currency speculators contributed to the depth of the crisis is agreeable but to conclude that they are the roots of the problem would be misleading. This paper argued that the roots of the problems lie in current account deficit and loss of competitiveness, and moral hazard and over‐investment This paper also argued that the currency crisis is a symptom and not the cause of the Asian crisis.

The purpose of this paper is to discuss the motivations behind the accession of Latin American countries to the Asian Infrastructure Investment Bank (AIIB) with a focus on the cases of Brazil and Chile.

The author collected data using a case study methodology, primarily through semi-structured interviews with decision-makers and through official government documentation.

The findings identified that, overall, the Brazilian politicians who made the decision to join the bank had an unclear perception of its economic benefit and believed that the clearest benefit from accession is political (to support China's initiative). After years of domestic political turmoil and economic crisis, Brazil experienced delayed incorporation into the bank, slow ratification processes in the domestic arena and a reduction in its capital commitment. Chilean decision-makers, on the other hand, seemed to have a clearer idea of the benefits from accessing the bank, which explains that their ratification process has been faster and smoother. Yet, a surprising socio-political crisis delayed incorporation into the bank. Both countries have delayed their accession to the bank due to domestic crises.

Three policy implications can be drawn from this study. First, the entry of Latin American countries into the bank reflects the persuasiveness of Chinese diplomacy in this region. Second, the author finds that interviewees are not always able to differentiate the AIIB from the Belt and Road Initiative (BRI) and hold the misguided idea that the AIIB is subordinated to the BRI rather than complementary to it. This might set overly high expectations of the benefits of entering the AIIB. Third, the author foresees that the largest potential of the AIIB in Latin America lies in the possibility of participating in co-financed projects, in particular with the Inter-American Development Bank and the Development Bank of Latin America.

Research on the AIIB has boomed in recent years, yet there are few in-depth studies about Latin American prospective members. The value of this study lies in offering in-depth data for two of the eight prospective members from this region.

In line with contemporary trends in the developing world, countries in South Asia are under pressure from both political and civil societies and the international donor community to recast their administrative systems. New tools and practices in public governance have been advanced to remedy structural deficiencies, procedural flaws, managerial incompetence, and weak accountability in the public sector. International organizations emphasize the need to improve the relationship between governance and socio-economic outcome; and accountability, transparency, probity, predictability, and participation are acknowledged as essential ingredients for effectively managing development. This article focuses on two South Asian countries (Pakistan and Bangladesh) and examines the various measures adopted by their governments to reshape governance and public management in recent times.

The Asian financial crisis has not only reduced foreign investment in the transition economies of South‐east Asia, but has also impacted on the domestic financial structure with associated implications for strategy and marketing. Despite reform, the formal, state‐dominated banking systems continue to struggle, particularly with competition from the traditional informal financial institutions such as moneylenders, gold dealers and credit circles, a form of competition which is probably much less significant in Western economies. In this context, understanding and explaining consumer savings decisions can most usefully be developed by using ideas from its commitment construct. Implications for marketing and promotional strategies are offered, which include recommendations for strategic alliances with local organisations where consumer commitment already exists.

This study investigates Asia Pacific banks' annual report disclosures on derivatives using the Basel Committee and IOSCO joint recommendations as the derivative and risk management disclosure benchmark. Based on our constructed disclosure index, the mean score is 35%, suggesting that many of the disclosure recommendations are not being adopted by the banks in our sample. Cross‐country and regional variation exists in the disclosure practices, with the variation associated with the extent to which accounting regulations for derivative instruments are operational. Hong Kong banks have the highest mean disclosure scores while the Philippines banks have the lowest mean disclosure scores. Australasian banks generally provide more disclosures than East Asian and South East Asian banks, and banks in developed countries generally have a higher level of disclosure relative to developing countries. The transparency of derivative activities by the banks is expected to improve as Asia Pacific countries promulgate accounting regulations congruent with international accounting standards.