Financial Stability Issues: The Case of East Asia

Drawing on a range of material including exploration of international standards and "best practices" in banking and finance, the experience of the US and the UK in planning and implementing reform measures, and the theoretical literature analyzing financial crises and what causes them, this text analyzes the specific financial reforms in four Asian countries: Japan, Indonesia, South Korea and Thailand. Included are "lessons to be learned" about crisis detection, containment and prevention. During the course of the analysis, the author reveals fundamental policy areas where meaningful and effective reform can take place.