Banking And Economic Rent In Asia

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Banking and Economic Rent in Asia

Yasushi Suzuki,Mohammad Dulal Miah,Manjula K. Wanniarachchige,S.M. Sohrab Uddin
Banking and Economic Rent in Asia Book PDF

Author : Yasushi Suzuki,Mohammad Dulal Miah,Manjula K. Wanniarachchige,S.M. Sohrab Uddin
Publisher : Routledge
Page : 284 pages
File Size : 51,7 Mb
Release : 2017-03-31
Category : Business & Economics
ISBN : 9781317192367

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Banking and Economic Rent in Asia by Yasushi Suzuki,Mohammad Dulal Miah,Manjula K. Wanniarachchige,S.M. Sohrab Uddin Pdf

A stable and sound financial system plays a critical role in mediating funds from surplus units to investors, making it a prerequisite for economic development. Financial intermediaries have been vulnerable to adverse changes in the local and global economy and experienced frequent bubble-and-bust episodes historically. Analyses of financial crises reveal that the incentive created by neo-liberal financial principles is inconsistent with stable financial systems, and viable solutions require structuring institutions in a way that incentives are well aligned with the fundamental principles of financial systems. By drawing on the theoretical framework of the financial restraint model, this book analyses financial sectors’ rents or bank rents and their effects on banks’ performance and stability, and presents evidence on the relationship between rent and incentive through case studies of both developed and developing countries.

Banking and Economic Rent in Asia

Yasushi Suzuki,Mohammad Dulal Miah,Manjula K. Wanniarachchige,S.M. Sohrab Uddin
Banking and Economic Rent in Asia Book PDF

Author : Yasushi Suzuki,Mohammad Dulal Miah,Manjula K. Wanniarachchige,S.M. Sohrab Uddin
Publisher : Taylor & Francis
Page : 204 pages
File Size : 43,5 Mb
Release : 2017-03-31
Category : Business & Economics
ISBN : 9781317192374

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Banking and Economic Rent in Asia by Yasushi Suzuki,Mohammad Dulal Miah,Manjula K. Wanniarachchige,S.M. Sohrab Uddin Pdf

A stable and sound financial system plays a critical role in mediating funds from surplus units to investors, making it a prerequisite for economic development. Financial intermediaries have been vulnerable to adverse changes in the local and global economy and experienced frequent bubble-and-bust episodes historically. Analyses of financial crises reveal that the incentive created by neo-liberal financial principles is inconsistent with stable financial systems, and viable solutions require structuring institutions in a way that incentives are well aligned with the fundamental principles of financial systems. By drawing on the theoretical framework of the financial restraint model, this book analyses financial sectors’ rents or bank rents and their effects on banks’ performance and stability, and presents evidence on the relationship between rent and incentive through case studies of both developed and developing countries.

Rents, Rent-Seeking and Economic Development

Mushtaq Husain Khan,Jomo Kwame Sundaram
Rents Rent Seeking and Economic Development Book PDF

Author : Mushtaq Husain Khan,Jomo Kwame Sundaram
Publisher : Cambridge University Press
Page : 358 pages
File Size : 41,9 Mb
Release : 2000-09-07
Category : Business & Economics
ISBN : 0521788668

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Rents, Rent-Seeking and Economic Development by Mushtaq Husain Khan,Jomo Kwame Sundaram Pdf

The concepts of rents and rent-seeking are central to any discussion of the processes of economic development. Yet conventional models of rent-seeking are unable to explain how it can drive decades of rapid growth in some countries, and at other times be associated with spectacular economic crises. This book argues that the rent-seeking framework has to be radically extended by incorporating insights developed by political scientists, institutional economists and political economists if it is to explain the anomalous role played by rent-seeking in Asian countries. It includes detailed analysis of Thailand, Malaysia, the Philippines, the Indian sub-continent, Indonesia and South Korea. This new critical and multidisciplinary approach has important policy implications for the debates over institutional reform in developing countries. It brings together leading international scholars in economics and political science, and will be of great interest to readers in the social sciences and Asian studies in general.

The Growth of Islamic Banking in Indonesia

Yasushi Suzuki,Sigit Pramono
The Growth of Islamic Banking in Indonesia Book PDF

Author : Yasushi Suzuki,Sigit Pramono
Publisher : Routledge
Page : 127 pages
File Size : 55,8 Mb
Release : 2020-12-22
Category : Business & Economics
ISBN : 9781000282726

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The Growth of Islamic Banking in Indonesia by Yasushi Suzuki,Sigit Pramono Pdf

Indonesia is the most populous Muslim country in the world. Taking into account also its endowment and potential economic resources, the Islamic banking industry in Indonesia was expected to take on an important role in facilitating more financial resources and to contribute to the internationalization of the Islamic mode of financing particularly in the Asia-Pacific region. However, the reality is far from the expectation. This book aims to clarify the causes and fundamental constraints leading to the extraordinarily low level of Indonesia’s Islamic financial deepening. The authors draw on the traditions of Institutional Economics which are concerned with the rules or mechanisms of creating the 'incentive' and 'threat' for economic players because the rules (institutions) would matter as the determinant for economic development and economic efficiency. This book offers a fairly new analytical lens by hypothesizing that Islamic banks must earn additional profit– the authors coined as ‘Islamic bank rent’ - to maintain their franchise value as prudent Shari’ah-compliant lenders when compared to conventional banks. The authors argued that insufficient provision of the Islamic bank rent opportunity may have caused the Indonesia’s Islamic banks the opportunity to learn and improve their skill and capacity for the credit risk management. The book also offers evidence in support of implementing economic and affirmative policy necessary for incubating and developing the Islamic banking industry in Indonesia and making Indonesia an international Islamic financial hub in the Asia-Pacific region. This book will be a useful resource for policy makers and researchers interested in Islamic banking in Indonesia.

The Development of International Banking in Asia

Takeshi Nishimura,Ayumu Sugawara
The Development of International Banking in Asia Book PDF

Author : Takeshi Nishimura,Ayumu Sugawara
Publisher : Springer
Page : 0 pages
File Size : 46,6 Mb
Release : 2020-09-13
Category : Business & Economics
ISBN : 4431556141

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The Development of International Banking in Asia by Takeshi Nishimura,Ayumu Sugawara Pdf

To provide an understanding of financial globalization from a historical point of view, this book sheds light on international banking in Asia before World War II. International banking facilitated the relationship between Asian economic development and international financial centres. Focusing on the origins of a wide variety of banks not just from Europe but beyond Europe, such as the United States and Asia, particularly Japan and China, this book comprehensively explores competition and collaboration among international banks in Asia. It clarifies international banking’s role of integrating the global market and the impact on both ends of the global economy—the international financial centres in the developed world and the developing economies in Asia. Economic development in Asia from the late nineteenth century to the 1930s as a part of the globalizing economy mirrors Asia’s current role as the global economic-growth powerhouse. This book focuses on the two key similarities between Asia’s past and present: intra-Asian relationships and the relationship between Asia and developed economies, namely, Europe, the United States, and Japan. Getting into the heart of the relationships, i.e., finance, this book presents a sophisticated and realistic image of the tangled network of international economic relations, distinguished from the conventional image of a one-sided advantage or disadvantage among involved nations.

The Origins of International Banking in Asia

Shizuya Nishimura,Toshio Suzuki,Ranald C. Michie
The Origins of International Banking in Asia Book PDF

Author : Shizuya Nishimura,Toshio Suzuki,Ranald C. Michie
Publisher : Oxford University Press
Page : 128 pages
File Size : 51,6 Mb
Release : 2012-09-27
Category : Business & Economics
ISBN : 9780191641336

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The Origins of International Banking in Asia by Shizuya Nishimura,Toshio Suzuki,Ranald C. Michie Pdf

Without a means of crediting and debiting accounts worldwide and the non-physical transfer of funds, the rapid global economic integration of the late nineteenth and early twentieth centuries would have been impossible. It is the globalization of the banking system, much of which, particularly in Asia, had its roots in the nineteenth century, that helped facilitate increased human mobility, the exchange of commodities and manufactures, and the simplified transfer of funds. This volume examines the origins, growth, and business practices of European banks in Asia, and the development of Asian (notably Japanese and Hong Kong) banks, and their operations on an international stage, and in doing so, provides important new detail and analysis of economic globalization. It draws on the archival documentation of main British, French, and Japanese banks involved and provides analysis from a range of historical viewpoints, including global banking strategy, monetary regimes, financial markets, international trade, labour immigration, and the development of communication tools.

Monetary Policies and Independence of the Central Banks in E7 Countries

Dinçer, Hasan,Yüksel, Serhat
Monetary Policies and Independence of the Central Banks in E7 Countries Book PDF

Author : Dinçer, Hasan,Yüksel, Serhat
Publisher : IGI Global
Page : 286 pages
File Size : 53,6 Mb
Release : 2019-11-22
Category : Business & Economics
ISBN : 9781799816454

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Monetary Policies and Independence of the Central Banks in E7 Countries by Dinçer, Hasan,Yüksel, Serhat Pdf

Central banking independence is a crucial factor for sustainable economic development of multiple countries. The multiple components for such systems, however, makes it difficult to evaluate how the success of such a system may be determined. Monetary Policies and Independence of the Central Banks in E7 Countries is an essential reference source that evaluates the effectiveness of monetary policies and the independence of central banks to contribute to economic development within seven emerging economies (E7): Brazil, China, India, Indonesia, Mexico, Russia, and Turkey. Featuring research on topics such as global economics, independent banking, and foreign investing, this book is ideally designed for financial analysts, economists, government officials, policymakers, researchers, academicians, industry professionals, and students seeking coverage on improved econometric methods for effective financial systems.

Routledge Handbook of Banking and Finance in Asia

Ulrich Volz,Peter J. Morgan,Naoyuki Yoshino
Routledge Handbook of Banking and Finance in Asia Book PDF

Author : Ulrich Volz,Peter J. Morgan,Naoyuki Yoshino
Publisher : Routledge
Page : 640 pages
File Size : 51,8 Mb
Release : 2018-10-26
Category : Business & Economics
ISBN : 9781134862146

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Routledge Handbook of Banking and Finance in Asia by Ulrich Volz,Peter J. Morgan,Naoyuki Yoshino Pdf

The Routledge Handbook of Banking and Finance in Asia brings together leading scholars, policymakers, and practitioners to provide a comprehensive and cutting-edge guide to Asia’s financial institutions, markets, and systems. Part I provides a country-by-country overview of banking and finance in East, Southeast, and South Asia, including examples from China, Japan, Hong Kong, India, and Singapore. Part II contains thematic chapters, covering topics such as commercial banking, development banking, infrastructure finance, stock markets, insurance, and sovereign wealth funds. It also includes examinations of banking regulation and supervision, and analyses of macroprudential regulation, capital flow management measures, and monetary policy. Finally, it provides new insights into topical issues such as SME, green, and Islamic finance. This handbook is an essential resource for scholars and students of Asian economics and finance and for professionals working in financial markets in Asia.

Dilemmas and Challenges in Islamic Finance

Yasushi Suzuki,Mohammad Dulal Miah
Dilemmas and Challenges in Islamic Finance Book PDF

Author : Yasushi Suzuki,Mohammad Dulal Miah
Publisher : Routledge
Page : 227 pages
File Size : 51,5 Mb
Release : 2018-03-09
Category : Business & Economics
ISBN : 9781351601856

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Dilemmas and Challenges in Islamic Finance by Yasushi Suzuki,Mohammad Dulal Miah Pdf

The phenomenal growth of Islamic finance in the last few decades has been accompanied by a host of interesting questions and challenges. One of the critical challenges is how Islamic financial institutions can be motivated to participate in the 'equity-like' profit-and-loss sharing (PLS) contracts. It is observed that Islamic banks are reluctant to participate in the pure PLS scheme which is manifested by the rising concentration of investment on murabaha or mark-up financing. This phenomenon has been the hotbed of academic criticism on the contemporary practice of Islamic banking. This book explains the 'murabaha syndrome' in light of the incentive provided by the current institutional framework and what are the changes required in the governance structure to mend this anomaly.

Real and Financial Integration in Asia

Shandre M. Thangavelu,Aekapol Chongvilaivan
Real and Financial Integration in Asia Book PDF

Author : Shandre M. Thangavelu,Aekapol Chongvilaivan
Publisher : Routledge
Page : 226 pages
File Size : 51,8 Mb
Release : 2012-10-02
Category : Business & Economics
ISBN : 9781136251719

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Real and Financial Integration in Asia by Shandre M. Thangavelu,Aekapol Chongvilaivan Pdf

This book investigates the impact of both real and financial integration to growth and to welfare, and to enquire whether increases in either or both forms build the linkage between the real and financial economy. It contributes to the following two areas: (1) Research of economic developments in East Asia, the most dynamic and populous region in the world, in itself is important for researchers, policy makers, journalists, business people and others. East Asia’s economic developments influence peoples’ lives not only in East Asia but also in other parts of the world. (2) Many aspects of East Asian experiences in economic development are unique, making research of East Asia attractive and important to discern mechanisms of economic development. The first part of this study begins with chapters that address the measurement of regional integration compared with the engagement with the global economy and how this influences the aggregate behavior of the economies. The second part turns to consideration of the financial sector and the efficiency and performance of banking in the region. This allows a discussion whether, in the current crisis, the banking sector was an important channel of financial shock into real behavior. The third part turns to the corporate sector. Using data on firms, type of finance used by firms, its impact on their performance, and ownership structure influence over the productivity growth are discussed. Based on the findings, the book presents several policy recommendation and future research agenda for further economic integration in East Asia.

Pension Fund Economics and Finance

Jacob Bikker
Pension Fund Economics and Finance Book PDF

Author : Jacob Bikker
Publisher : Routledge
Page : 256 pages
File Size : 46,5 Mb
Release : 2017-11-22
Category : Business & Economics
ISBN : 9781317220848

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Pension Fund Economics and Finance by Jacob Bikker Pdf

Pension fund benefits are crucial for pensioners’ welfare and pension fund savings have accumulated to huge amounts, covering a major part of world-wide institutional investments. However, the literature on pension fund economics and finance is rather limited, caused, in part, to limited data availability. This book contributes to this literature and focuses on three important areas. The first is pension fund (in)efficiency, which has a huge impact on final benefits, particularly when annual spoilage accumulates over a lifetime. Scale economies, pension plans complexity and alternative pension saving plans are important issues. The second area is investment behavior and risk-taking. A key question refers to the allocation of investments over high risk/high return and relatively safe assets. Bikker investigates whether pension funds follow the life-cycle hypothesis: more risk and return for pension funds with young participants. Many pension funds are rather limited in size, which may raise the question how financially sophisticated the pension fund decision makers are: rather professionals or closer to unskilled private persons? The third field concerns two regulation issues. How do pension fund respond to shocks such as unexpected investment returns or changes in life expectancy? What are the welfare implications to the beneficiary for different methods of securing pension funding: solvency requirements, a pension guarantee fund, or sponsor support? This groundbreaking book will challenge the way pension fund economics is thought about and practiced.

Finance in Asia

Qiao Liu,Paul Lejot,Douglas W. Arner
Finance in Asia Book PDF

Author : Qiao Liu,Paul Lejot,Douglas W. Arner
Publisher : Routledge
Page : 634 pages
File Size : 41,8 Mb
Release : 2013
Category : Business & Economics
ISBN : 9780415423205

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Finance in Asia by Qiao Liu,Paul Lejot,Douglas W. Arner Pdf

Asia's demand for second-generation financial institutions and markets needs to be met in order for the region's further development to be sustained. This book provides a compelling, fact-based assessment of current practices and regulations in Asia's financial institutions and markets and carefully documents the exciting opportunities and challenges that lie ahead in the region's financial systems. This book differs in design from typical treatments of financial institutions and markets because its focus is on Asia rather than using the US model (in terms of market configurations or products) as a benchmark, and its takes a contemporary and forward-looking view of financial markets. Examples of practice from Asia are used to illustrate major accepted themes in finance and financial regulation. To the extent that Asia's main economies share characteristics that are distinct, for example, in the relationship between government and the banking sector, or in aspects of corporate governance, the book will discuss the consequences for market operation and intermediation. The book's carefully structured facts and rigorously argued analysis carry important implications both for students in business and law and for professionals new to financial markets in Asia. It will change the way that Asian financial markets and institutions is taught in universities as well as provide a valuable resource for professionals working in finance in Asia.

The Institutional Foundations of East Asian Economic Development

Y. Hayami,M. Aoki
The Institutional Foundations of East Asian Economic Development Book PDF

Author : Y. Hayami,M. Aoki
Publisher : Springer
Page : 597 pages
File Size : 49,7 Mb
Release : 1998-12-13
Category : Business & Economics
ISBN : 9781349269280

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The Institutional Foundations of East Asian Economic Development by Y. Hayami,M. Aoki Pdf

The International Economic Association was foremost in reviving professional economists' concern with institutions and their impact in publications such as Economic Institutions in a Dynamic Society (1989). This volume concentrates on the states whose development has been characterised as the 'East Asian miracle' in the light of the performance of other economies starting from similarly low income levels, including India, China, African states - especially Nigeria - and Latin American countries including Brazil. This comprehensive comparative survey in economic history demonstrates the external shocks and interacting domestic forces which constituted the growth dynamic. Nobel Laureates Kenneth Arrow and Douglass North and past President of the IEA the late Michael Bruno are among the thirty-four highly distinguished specialist contributors.

The Role of Government in East Asian Economic Development

Masahiko Aoki,Hyung-Ki Kim,Masahiro Okuno-Fujiwara
The Role of Government in East Asian Economic Development Book PDF

Author : Masahiko Aoki,Hyung-Ki Kim,Masahiro Okuno-Fujiwara
Publisher : Clarendon Press
Page : 446 pages
File Size : 53,6 Mb
Release : 1997-03-13
Category : Political Science
ISBN : 9780191521881

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The Role of Government in East Asian Economic Development by Masahiko Aoki,Hyung-Ki Kim,Masahiro Okuno-Fujiwara Pdf

The role of government in East Asian economic development has been a continuous issue. Two competing views have shaped enquiries into the source of the rapid growth high-performing Asian economies and attempts to derive a general lesson for other developing economies: the market-friendly view, according to which government intervenes little in the market, and the developmental state view, in which it governs the market. What these views share in common is a conception of market and government as alternative mechanisms for resource allocation. They are distinct only in their judgement of the extent to which market failures have been, and ought to be, remedied by direct government intervention. This collection of essays suggests a breakthrough, third view: the market-enhancing view. Instead of viewing government and the market as mutually exclusive substitutes, it examines the capacity of government policy to facilitate or complement private sector co-ordination. The book starts from the premise that private sector institutions have important comparative advantages over government, in particular in their ability to process information available on site. At the same time, it recognizes that the capabilities of the private sector are more limited in developing economies. The market-enhancing view thus stresses the mechanisms whereby government policy is directed at improving the ability of the private sector to solve co-ordination problems and overcome other market imperfections. In presenting the market-enhancing view, the book recognizes the wide diversity of the roles of government across various East Asian economies-including Japan, Korea, Hong Kong, Malaysia, and China-and its path-dependant and developmental stage nature.

Central Banking and Monetary Policy in the Asia-Pacific

Akhand Akhtar Hossain
Central Banking and Monetary Policy in the Asia Pacific Book PDF

Author : Akhand Akhtar Hossain
Publisher : Edward Elgar Publishing
Page : 371 pages
File Size : 43,8 Mb
Release : 2009-01-01
Category : Business & Economics
ISBN : 9781849802093

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Central Banking and Monetary Policy in the Asia-Pacific by Akhand Akhtar Hossain Pdf

The strength of this book is that it summarises a vast amount of the modern literature in monetary economics. . . the book provides detailed and clear descriptions of monetary models. . . This comprehensive volume is a useful compendium of the monetary economics literature of the second half of the 20th century, which has to a certain extent been over taken by events. Paul Wachtel, Asian-Pacific Economic Literature This well-researched and finely crafted book is a valuable addition to the literature on monetary policy in developing countries. It explains the concepts and tools of monetary policy in a simple manner and discusses how monetary policy works in developing Asia in a historical context within the framework of an outward-oriented development strategy. I am not aware of any other book that covers the organisational and institutional aspects of major central banks in developing Asia. Prema-chandra Athukorala, Australian National University This book elaborates the key concepts, principles and models of inflation and monetary policy and explains how they remain relevant and useful to the design and conduct of monetary policy in developing Asia. In this rapidly growing region, price stability remains important and therefore monetary policy has gained increasing importance. Even while emphasising the importance of the classical approach, the book discusses alternative frameworks and points out areas where a consensus is emerging. The review of the literature is extensive and careful. Along with developing this theme, the book reviews the structure and governance of most central banks in the Asia-Pacific and discusses how they conduct monetary policy to achieve price stability under different monetary policy frameworks. The book fills a gap in the central banking and monetary policy literature and has no close competitors. It should be useful to both students and policymakers in developing Asia. Salim Rashid, University of Illinois, US The 1997 East Asia crisis exposed many economic policy weaknesses in the Asia-Pacific region. In his latest book, Dr Hossain provides students with a refreshing up-to-date reference text on the concepts and principles of money, banking and finance in developing countries which differ in many ways to monetary institutions and practices in developed countries, which conventional monetary textbooks focus on. I thoroughly recommend it. A.P. Thirlwall, University of Kent, UK This timely book reviews the modern literature on inflation and monetary policy, and highlights contemporary issues in the design and conduct of monetary policy for price stability in developing Asia. Akhand Akhtar Hossain surveys the evolution of central banking and provides an introduction to the structure, function and governance of central banks in selected countries in the Asia-Pacific. The author also examines the major theories, models and approaches to inflation and monetary policy, and evaluates monetary policy regimes in selected countries in the Asia-Pacific in a historical context. This eloquent and comprehensible book will prove to be invaluable to undergraduate students on monetary theory and policy as well as banking and financial courses. Researchers exploring monetary policy concepts, principles and case studies will warmly welcome this book, as will policy-makers who have an interest in macroeconomics, monetary and financial policies.