Competition	among	Financial	Centres	in	Asia-Pacific:	Prospects,	Benefits,	Risks	and	Policy	Challenges	(Comments	on	Case	Studies	by	DiscussantsSession	I:	Hong	Kong	and	Singapore;Session	II:	Tokyo	and	Sydney;Session	III:	Shanghai,	Wellington	and	Seoul)
E-Books

Competition among Financial Centres in Asia-Pacific: Prospects, Benefits, Risks and Policy Challenges (Comments on Case Studies by DiscussantsSession I: Hong Kong and Singapore;Session II: Tokyo and Sydney;Session III: Shanghai, Wellington and Seoul)

by Sang Kee Min ; David Hong ; Simon Cooper ; Hugh T Patrick ; Tan Teck Meng ; James Rooney ; Sang Yong Park

Many cities in the Asia-Pacific region serve as financial centres in their respective national jurisdictions or local areas. Noting that most were engaged in efforts to become premier international financial centres (IFCs) in competition with one another, the Korea National Committee for Pacific Economic Cooperation (KOPEC) convened an international conference in Seoul, Korea in October 2007 to examine the prospects for success for seven such financial centres (Hong Kong, Seoul, Shanghai, Singapore, Sydney, Tokyo and Wellington), weigh the costs and benefits of such competition for local economies as well as the region as a whole, and derive implications for cooperation among the regional governments.
          
The present volume consists of case studies and commentaries presented at the conference as well as the synthesis report, which draws conclusions from those papers and commentaries. One of those conclusions is that, given the power of scale economies as well as the lack of integration of the financial markets in the region, none of the regional financial centres, even Hong Kong, Singapore or Tokyo, considered alone represents a meaningful rival to London or New York, the two existing global financial centres. The synthesis report thus argues for regional cooperation to integrate all those financial centres into an Asia-Pacific IFC network. It further argues that the present global financial crisis presents a major opportunity for regional governments to create such an IFC network that will challenge London and New York in quality as well as quantity of international financial business while helping the latter two overcome the current global crisis. This would open the path towards a stable and resilient Asia-Pacific financial community, with the constituent regional economies no longer vulnerable to the problems of the so-called original sin and double mismatch.
          

          

          

          

          

Refer to this link for list of supported app: Click here!


Disclaimer: Our supplier will reach out via email with redemption process and code.


For any enquiries regarding E-books from Alkem, please contact support@alkem.com.sg


Status: Available For Purchase

Regular price
SGD 7.81
Sale price
SGD 7.81
Regular price
SGD 7.81
Unit price
per 
Tax included.

Delivered within 5 business days

Product Details

  • Publisher : ISEAS / KOPEC / PECC
  • Publication Date : 2009-06-05
  • Product Code : 9789812309310C10

About Author

Sang Kee Min ; David Hong ; Simon Cooper ; Hugh T Patrick ; Tan Teck Meng ; James Rooney ; Sang Yong Park

Sang Kee Min has been a Professor of International Finance at Seoul National University since 1977. He is currently the Chairman of the Seoul Investment Banking Forum. ; David Hong is the President and Senior Research Fellow of the Taiwan Institute of Economic Research, the first private economic think-tank in Chinese Taipei. ; Simon Cooper assumed the position of President and Chief Executive Officer of HSBC in Korea effective from 17 March 2006. ; Hugh Patrick is Director of the Center on Japanese Economy and Business at Columbia Business School, a co-director of Columbia's APEC Study Center, and R.D. Calkins Professor of International Business Emeritus. ; Tan Teck Meng is a Professor of Accounting at Singapore Management University where he was the Founding Deputy President and Provost from 1998 to 2001. ; James Rooney is Chairman and CEO of Market Force Company. He serves as the Vice Chairman of Seoul Financial Forum, and is an outside director for Macquarie Korea Oportunities Management Company. ; Sang Yong Park is a Professor of Finance and Dean of the School of Business at Yonsei University in Seoul, Korea.