TY - CHAP
T1 - Encouraging Growth in Asia with Multi-Pillar Financial Systems
AU - Narayanamurti, Mukund
AU - Batten, Jonathan A.
PY - 2006
Y1 - 2006
N2 - 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.
AB - 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.
UR - http://www.scopus.com/inward/record.url?scp=33645947329&partnerID=8YFLogxK
U2 - 10.1016/S1569-3759(05)86016-4
DO - 10.1016/S1569-3759(05)86016-4
M3 - Chapter
SN - 0762312580
SN - 9780762312580
VL - 86
T3 - Contemporary Studies in Economic and Financial Analysis
SP - 361
EP - 415
BT - Asia Pacific Financial Markets in Comparative Perspective: Issues and Implications for the 21st Century
ER -