Asia's Financial Markets: Capitalising on Reform

Summary

The countries of Asia are now embarking on the most far-reaching
transformation of their financial systems since independence. The new study
from the EAU provides an excellent overview of these changes." David
Hale, Global Chief Economist, Zurich Group.

The EAAU has provided an informed, scholarly and highly-readable
account of the state of play in East Asia's financial systems." Professor
Ian Harper, Melbourne Business School, Member of the Wallis Inquiry into
Australia's Financial System.

The Asian financial crisis, competition for regional financial business and
global technological and regulatory innovations are driving profound change in
East Asia's financial markets. Governments have intervened extensively to
rescue banking systems. Now banking and capital markets are consolidating, and
foreign involvement is increasing. East Asia's future prospects are linked
inextricably to its success in managing financial sector restructuring.

This comprehensive, up-to-date report analyses major new developments in
regional banking, capital markets and non-bank financial institutions. It
examines post-crisis bank refinancing, prudential reforms, initiatives to open
markets, new financial products and the impact of new technology, including
the Internet. Country chapters analyse the future of Hong Kong's peg, the
post-crisis surge of foreign capital into Japan and Korea, the health of
China's financial sector and recovery prospects in South East Asia.

The report highlights opportunities for Australian business, ranging from
attracting regional financial centre business and exporting financial and
related services to participating in mergers and acquisitions.