How Finance Is Shaping The Economies Of China Japan And Korea

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How Finance Is Shaping the Economies of China, Japan, and Korea

Yung Chul Park,Hugh Patrick
How Finance Is Shaping the Economies of China Japan and Korea Book PDF

Author : Yung Chul Park,Hugh Patrick
Publisher : Columbia University Press
Page : 380 pages
File Size : 47,6 Mb
Release : 2013-11-26
Category : Business & Economics
ISBN : 9780231165266

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How Finance Is Shaping the Economies of China, Japan, and Korea by Yung Chul Park,Hugh Patrick Pdf

This volume connects the evolving modern financial systems of China, Japan, and Korea to the development and growth of their economies through the first decade of the twenty-first century. It also identifies the commonalities among all three systems while taking into account their social, political, and institutional differences. Essays consider the reform of the Chinese economy since 1978, the underwhelming performance of the Japanese economy since about 1990, and the growth of the Korean economy over the past three decades. These economies engaged in rapid catch-up growth processes and share similar economic structures. While domestic forces have driven each country’s financial trajectory, international short-term financial flows have presented opportunities and challenges for all. For these countries, the nature and role of the financial system in generating real economic growth is integral, though nuanced and complex. The result is a fascinating spectrum of experiences with powerful takeaways.

Changing Asian Business Systems

Richard Whitley,Xiaoke Zhang
Changing Asian Business Systems Book PDF

Author : Richard Whitley,Xiaoke Zhang
Publisher : Oxford University Press
Page : 448 pages
File Size : 51,8 Mb
Release : 2016-02-26
Category : Business & Economics
ISBN : 9780191045356

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Changing Asian Business Systems by Richard Whitley,Xiaoke Zhang Pdf

This book brings together scholars from different disciplines to examine the evolving patterns of economic organisation across Northeast and Southeast Asia against the backdrop of market liberalisation, political changes and periodic economic crises since the 1990s. More specifically, it provides an interdisciplinary account of variations, continuities and changes in the institutional structures that shape business systems and practices and govern innovation patterns, together with analyses of their impact on established systems of economic coordination and control. In line with this analytical focus, the project has three different yet interrelated objectives. In the first place, building on the comparative business systems framework, it elucidates the nature and properties of business system changes and continuities in Asia since the 1990s. Second, it develops novel theoretical propositions concerning the primary causes of these changes and continuities, representing a collective effort to theorise the changing varieties of Asian economic organisation. Finally, it explores the causal pathways through which the changing institutional structures governing business systems have shaped and reshaped innovation strategies and trajectories across the national, sectoral and firm levels of analysis.

Confronting South Korea's Next Crisis

Jaejoon Woo
Confronting South Korea s Next Crisis Book PDF

Author : Jaejoon Woo
Publisher : Oxford University Press
Page : 240 pages
File Size : 50,8 Mb
Release : 2022-05-12
Category : Business & Economics
ISBN : 9780192633439

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Confronting South Korea's Next Crisis by Jaejoon Woo Pdf

South Korea's economic miracle is a well-known story. However, today Korea is confronting a new set of internal and external risks, which may foreshadow the next crisis. The Korean economy has been struggling with the faltering growth momentum and the rise of unprecedented socio-economic problems over recent years well before the pandemic crisis. After abrupt downshifts to markedly slower growth in the early 2000s, economic growth has continued to decelerate. Koreans are grappling with slow income growth, all time-high household debt, high youth unemployment, inequality, and social polarization. Politics is in disarray and is incapable of directing social discourse for the common good. Rapid population aging along with the world's lowest fertility rates stokes fears of Japanification. Simultaneously, disruptive technologies and fast-changing business environment such as the rise of China clash with a range of long-standing structural problems. The contemporary challenges are radically different from those seen in the early stages of industrialization. There are multiple risks that threaten to self-perpetuate low or stagnant growth over the next decade or so, if not an outright financial crisis. Motivated by these latest developments, this book seeks to provide a timely and in-depth analysis of key current issues and foreseeable challenges of the economy, with a provocative reassessment of its future. Based on extensive new empirical works, it examines the underlying causes of the socio-economic problems. In a constructive spirit, it puts in perspective what would constitute critical elements of ideal policy solutions and the direction of the future government's role.

Financial Development and Cooperation in Asia and the Pacific

Edward K. Y. Chen,Wendy Dobson
Financial Development and Cooperation in Asia and the Pacific Book PDF

Author : Edward K. Y. Chen,Wendy Dobson
Publisher : Routledge
Page : 235 pages
File Size : 43,5 Mb
Release : 2014-11-13
Category : Business & Economics
ISBN : 9781134639120

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Financial Development and Cooperation in Asia and the Pacific by Edward K. Y. Chen,Wendy Dobson Pdf

The 1997–8 Asian financial crisis exposed weaknesses in the region’s national financial systems, but since then East Asia has become the world’s most dynamic economic region. Domestic financial systems have developed, cross-border financial flows within the region are growing apace as demand from governments and large firms increases and as the capabilities of financial institutions develop, and governments have initiated regional cooperation aimed at preventing future crises and managing them if they occur. This book examines the economies of Asia and the Pacific with reference to financial reform and liberalization, monetary policy frameworks, banking and capital markets, regulation and supervision and macroeconomic policies. Further, it asks what lessons have been learned from both the Asian financial crisis and the recent financial crisis, how to engender financial stability in the region, and how to ensure that the benefits of economic growth and financial development reach all members of society. Across four key sections, the chapters examine the future implications of historical studies of the relationships between financial development and growth; financial development including banks, non-bank financial institutions and capital markets; how financial stability is being sought in the region; and China’s plans for capital account opening and renminbi internationalization and subsequent the policy implications for China’s neighbours. This book draws on papers originally presented to the 36th Pacific Trade and Development Conference held in Hong Kong in 2013, and features contributions from leading academics and economists from around the world. As such, it will be of great interest to students and scholars of Asian economics, Asia Pacific studies, international economics and international finance.

East Asia in the World

Anne Prescott
East Asia in the World Book PDF

Author : Anne Prescott
Publisher : Routledge
Page : 291 pages
File Size : 42,8 Mb
Release : 2015-05-15
Category : History
ISBN : 9781317509707

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East Asia in the World by Anne Prescott Pdf

From the Foundations in Global Studies series, this text offers students a fresh, comprehensive, multidisciplinary entry point to East Asia. After a brief introduction to the study of East Asia, the early chapters of the book survey the essentials of East Asian history; important historical narratives; and the region's languages, religions, and global connections. Students are guided through the material with relevant maps, resource boxes, and text boxes that support and guide further independent exploration of the topics at hand. The second half of the book features interdisciplinary case studies, each of which focuses on a specific country or region and a particular issue. Each chapter gives a flavor for the cultural distinctiveness of the particular country yet also draws attention to global linkages. Readers will come away from this book with an understanding of the larger historical, political, and cultural frameworks that shaped East Asia as we know it today, and of current issues that have relevance in Asia and beyond.

Financial Reform in China

On Kit Tam
Financial Reform in China Book PDF

Author : On Kit Tam
Publisher : Psychology Press
Page : 220 pages
File Size : 51,6 Mb
Release : 1995
Category : Business & Economics
ISBN : 0415019710

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Financial Reform in China by On Kit Tam Pdf

China's spectacular economic growth has made it the focus of international attention. Financial Reform in China argues that Chinese financial reform has not kept pace with its continuing economic growth. Written by the leading protagonists of China's financial institutions and markets, Financial Reform in China looks at the bottleneck of strict financial regulation which threatens China's continuing economic reform. With increased marketisation and internationalisation, China's financial and monetary system should play a pivotal role in economic reform and development. However, while China's banking and financial organisations still operate under a highly regulated environment shaped by the centrally planned economic system, China's slow financial reform has failed to meet the demands of its more general economic reform.

China's New Sources of Economic Growth: Vol. 1

Ligang Song,Ross Garnaut,Cai Fang,Lauren Johnston
China s New Sources of Economic Growth Vol 1 Book PDF

Author : Ligang Song,Ross Garnaut,Cai Fang,Lauren Johnston
Publisher : ANU Press
Page : 545 pages
File Size : 41,9 Mb
Release : 2016-07-21
Category : Business & Economics
ISBN : 9781760460358

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China's New Sources of Economic Growth: Vol. 1 by Ligang Song,Ross Garnaut,Cai Fang,Lauren Johnston Pdf

China’s change to a new model of growth, now called the ‘new normal’, was always going to be hard. Events over the past year show how hard it is. The attempts to moderate the extremes of high investment and low consumption, the correction of overcapacity in the heavy industries that were the mainstays of the old model of growth, the hauling in of the immense debt hangover from the fiscal and monetary expansion that pulled China out of the Great Crash of 2008 would all have been hard at any time. They are harder when changes in economic policy and structure coincide with stagnation in global trade and rising protectionist sentiment in developed countries, extraordinarily rapid demographic change and recognition of the urgency of easing the environmental damage from the old model. China’s economy has slowed and there are worries that the authorities will not be able to contain the slowdown within preferred limits. This year’s Update explores the challenge of the slowdown in growth and the change in economic structure. Leading experts on China’s economy and environment review change within China’s new model of growth, and its interaction with ageing, environmental pressure, new patterns of urbanisation, and debt problems at different levels of government. It illuminates some new developments in China’s economy, including the transformational potential of internet banking, and the dynamics of financial market instability. China’s economic development since 1978 is full of exciting change, and this year’s China Update is again the way to know it as it is happening.

China 2049

David Dollar,Yiping Huang,Yang Yao
China 2049 Book PDF

Author : David Dollar,Yiping Huang,Yang Yao
Publisher : Brookings Institution Press
Page : 444 pages
File Size : 45,9 Mb
Release : 2020-06-09
Category : Political Science
ISBN : 9780815738060

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China 2049 by David Dollar,Yiping Huang,Yang Yao Pdf

How will China reform its economy as it aspires to become the next economic superpower? It's clear that China is the world's next economic superpower. But what isn't so clear is how China will get there by the middle of this century. It now faces tremendous challenges such as fostering innovation, dealing with ageing problem and coping with a less accommodative global environment. In this book, economists from China's leading university and America's best-known think tank offer in depth analyses of these challenges. Does China have enough talent and right policy and institutional mix to transit from input-driven to innovation-driven economy? What does ageing mean, in terms of labor supply, consumption demand and social welfare expenditure? Can China contain the environmental and climate change risks? How should the financial system be transformed in order to continuously support economic growth and keep financial risks under control? What fiscal reforms are required in order to balance between economic efficiency and social harmony? What roles should the state-owned enterprises play in the future Chinese economy? In addition, how will technological competition between the United States and China affect each country's development? Will the Chinese yuan emerge as a major reserve currency, and would this destabilize the international financial system? What will be China's role in the international economic institutions? And will the United States and other established powers accept a growing role for China and the rest of the developing world in the governance of global institutions such as the World Trade Organization and the International Monetary Fund, or will the world devolve into competing blocs? This book provides unique insights into independent analyses and policy recommendations by a group of top Chinese and American scholars. Whether China succeeds or fails in economic reform will have a large impact, not just on China's development, but also on stability and prosperity for the whole world.

Financial Crime in China

Hongming Cheng
Financial Crime in China Book PDF

Author : Hongming Cheng
Publisher : Springer
Page : 194 pages
File Size : 50,9 Mb
Release : 2016-01-26
Category : Social Science
ISBN : 9781137571069

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Financial Crime in China by Hongming Cheng Pdf

Given China's rapid development, many observers assert that world economic growth and key economic indicators are now depending on the country alone, including the prospects of the dollar, the Euro, oil prices, industrial commodities, global equity markets and bond prices. On the other hand, China faces a number of major social and economic challenges which could undermine future growth, such as prevalent corruption, financial crime, and the relative lack of the rule of law. Financial Crime in China builds upon original research into the topic and offers a never-before-seen look at the systemic spread of state-controlled corruption in the form of bank fraud, securities fraud, insider trading, and Ponzi schemes. Cheng presents an authentic picture of financial crime in China by identifying the latest manifestations, analyzing empirical data and case studies, and drawing conclusions about the origin, characteristics, dynamics, and developmental features of financial criminality in the context of political economy.

Asian Economic Integration in an Era of Global Uncertainty

Shiro Armstrong,Tom Westland
Asian Economic Integration in an Era of Global Uncertainty Book PDF

Author : Shiro Armstrong,Tom Westland
Publisher : ANU Press
Page : 315 pages
File Size : 48,9 Mb
Release : 2018-01-08
Category : Political Science
ISBN : 9781760461768

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Asian Economic Integration in an Era of Global Uncertainty by Shiro Armstrong,Tom Westland Pdf

The Pacific Trade and Development (PAFTAD) conference series has been at the forefront of analysing challenges facing the economies of East Asia and the Pacific since its first meeting in Tokyo in January 1968. The 38th PAFTAD conference met at a key time to consider international economic integration. Earlier in the year, the people of the United Kingdom voted to leave the European Union and the United States elected Donald Trump as their next president on the back of an inward-looking ‘America First’ promise. Brexit and President Trump represent a growing, and worrying, trend towards protectionism in the North Atlantic countries that have led the process of globalisation since the end of the Second World War. The chapters in the volume describe the state of play in Asian economic integration but, more importantly, look forward to the region’s future, and the role it might play in defending the global system that has underwritten its historic rise. Asia has the potential to stand as a bulwark against the dual threats of North Atlantic protectionism and slowing trade growth, but collective leadership will be needed regionally and difficult domestic reforms will be required in each country.

China’s 40 Years of Reform and Development: 1978–2018

Ross Garnaut,Ligang Song,Cai Fang
China s 40 Years of Reform and Development 1978 2018 Book PDF

Author : Ross Garnaut,Ligang Song,Cai Fang
Publisher : ANU Press
Page : 709 pages
File Size : 43,7 Mb
Release : 2018-07-19
Category : Business & Economics
ISBN : 9781760462253

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China’s 40 Years of Reform and Development: 1978–2018 by Ross Garnaut,Ligang Song,Cai Fang Pdf

The year 2018 marks 40 years of reform and development in China (1978–2018). This commemorative book assembles some of the world’s most prominent scholars on the Chinese economy to reflect on what has been achieved as a result of the economic reform programs, and to draw out the key lessons that have been learned by the model of growth and development in China over the preceding four decades. This book explores what has happened in the transformation of the Chinese economy in the past 40 years for China itself, as well as for the rest of the world, and discusses the implications of what will happen next in the context of China’s new reform agenda. Focusing on the long-term development strategy amid various old and new challenges that face the economy, this book sets the scene for what the world can expect in China’s fifth decade of reform and development. A key feature of this book is its comprehensive coverage of the key issues involved in China’s economic reform and development. Included are discussions of China’s 40 years of reform and development in a global perspective; the political economy of economic transformation; the progress of marketisation and changes in market-compatible institutions; the reform program for state-owned enterprises; the financial sector and fiscal system reform, and its foreign exchange system reform; the progress and challenges in economic rebalancing; and the continuing process of China’s global integration. This book further documents and analyses the development experiences including China’s large scale of migration and urbanisation, the demographic structural changes, the private sector development, income distribution, land reform and regional development, agricultural development, and energy and climate change policies.

Deepening Reform for China’s Long-term Growth and Development

Ligang Song,Ross Garnaut,Cai Fang
Deepening Reform for China s Long term Growth and Development Book PDF

Author : Ligang Song,Ross Garnaut,Cai Fang
Publisher : ANU E Press
Page : 596 pages
File Size : 47,7 Mb
Release : 2014-07-10
Category : Business & Economics
ISBN : 9781925021776

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Deepening Reform for China’s Long-term Growth and Development by Ligang Song,Ross Garnaut,Cai Fang Pdf

The Chinese economy has entered a new phase of development in which sources of growth are not so much dependent upon pure increases in labour, investment and credit expansion, but from productivity improvement, structural changes, technological progress and the benefits from improvement of the social security and welfare improvement. When market functions are fully established to become a main channel for allocating resources, the entrepreneurship will flourish engaging in more innovative activities, workers will move more freely and have more incentives to improve their skills, firms will become more productive through market entry and exit, the economic structure will become more balanced because of the improved resource allocation, and in the end, growth will become more spontaneous and sustainable. In this sense, reforms could deliver ‘dividend’ by raising China’s potential economic growth rates. For China to confront all the challenges it faces at present, the reforms undertaken now have to be deep, comprehensive and far-reaching in order to succeed in paving the way for China to complete the task of transformation in the long-term. There is no better alternative than deepening the market-oriented reform in advancing the course of China’s modernisation for future development and prosperity and lifting China to the status of a developed economy in the next two decades. The recent China update books have covered the topic of reform from different angles and this new book is another attempt to address this important issue.

Venture Capital Law in China

Lin Lin
Venture Capital Law in China Book PDF

Author : Lin Lin
Publisher : Cambridge University Press
Page : 357 pages
File Size : 46,5 Mb
Release : 2021-02-18
Category : Business & Economics
ISBN : 9781108423557

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Venture Capital Law in China by Lin Lin Pdf

Provides an in-depth comparative, empirical and critical analysis of the law and practice of venture capital in China.

Japanese Political Economy Revisited

David Chiavacci,Sébastien Lechevalier
Japanese Political Economy Revisited Book PDF

Author : David Chiavacci,Sébastien Lechevalier
Publisher : Routledge
Page : 132 pages
File Size : 51,7 Mb
Release : 2020-11-25
Category : Social Science
ISBN : 9780429884566

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Japanese Political Economy Revisited by David Chiavacci,Sébastien Lechevalier Pdf

During the last 30 years, the Japanese political economy system has experienced significant changes that are usually not well understood or analysed because of their complexity and contradictions. This book provides new analyses and insights on the process of evolving Japanese political economy including Japan’s current economic policy known as Abenomics. The first three chapters looks at evolutions at the corporate level, characterised in recent years by increasing firm heterogeneity. The authors apply theoretically driven analyses to the complex subject of corporate governance, human resource management and corporate reporting by discussing new developments in context of their economic opportunities as well as of their institutional contradictions with continuities in Japanese business practices. The second group of chapters deals with institutional changes and evolving economic reforms on the macro level of political economy. The two chapters focus on the financial system regulation and economic growth policies as two central elements of Japan’s political economy and key drivers in the evolution of its economy. Their analysis allows us to better understand the interplay between reforms and change in consumption credit and to reinterpret Abenomics as a manifestation of ongoing contradictions within the Japanese political economy. The chapters were originally published in a special issue in Japan Forum.

The Fundamental Dynamic Effect on Reform and Opening in China

SHAO Binhong
The Fundamental Dynamic Effect on Reform and Opening in China Book PDF

Author : SHAO Binhong
Publisher : BRILL
Page : 381 pages
File Size : 40,8 Mb
Release : 2019-10-29
Category : Political Science
ISBN : 9789004417229

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The Fundamental Dynamic Effect on Reform and Opening in China by SHAO Binhong Pdf

This volume is divided into: World and China Economy, Chinese Diplomacy, International Strategies. In an era when world order is undergoing reformations, it provides scholars in the English-speaking world with a window to understand the perspectives of the Chinese academia.