The impact of liberalization and regionalism upon capital markets in emerging Asian economies

Christopher Bilson, Vince Hooper, Martin Jaugietis

Research output: Chapter in Book/Report/Conference proceedingChapterResearchpeer-review

2 Citations (Scopus)
65 Downloads (Pure)

Abstract

This chapter examines the trend towards regionalism upon stock market returns for a sample of Asian countries. We find that stock markets are becoming regionally integrated at a faster rate than globally. This finding reflects the growing co-operation between Asian countries. This study focuses upon Indonesia, Malaysia, the Philippines, South Korea, Taiwan and Thailand. These markets suffered severe contagion effects in relation to the Asian financial crisis that occurred during 1997. In addition, this study reports on the significant economic and political events that occurred in Asian economies from 1980. This study concludes that increases in liberalization coupled with stronger 'regionalism' in South East Asia contributed to the Asian financial crisis in 1997, in addition to the structural weaknesses in their financial systems. Policy setters may consider reducing the amount of intra-regional dependence in order to reduce the impact of financial crises and improve stability of the financial system.

Original languageEnglish
Title of host publicationAsian Financial Crisis Financial, Structural and International Dimensions
EditorsJ. Jay Choi
PublisherEmerald Group Publishing Limited
Pages199-235
Number of pages37
ISBN (Electronic)978-1-84950-063-0
ISBN (Print)0762306866, 9780762306862
DOIs
Publication statusPublished - 1 Dec 2000

Publication series

NameInternational Finance Review
Volume1
ISSN (Print)1569-3767

Fingerprint

Emerging Asian countries
Liberalization
Regionalism
Asian financial crisis
Financial system
Capital markets
Asian countries
Contagion effect
Asian economies
Stock market
Stock market returns
Indonesia
South Korea
South-East Asia
Philippines
Financial crisis
Thailand
Malaysia
Taiwan
Integrated

Cite this

Bilson, C., Hooper, V., & Jaugietis, M. (2000). The impact of liberalization and regionalism upon capital markets in emerging Asian economies. In J. J. Choi (Ed.), Asian Financial Crisis Financial, Structural and International Dimensions (pp. 199-235). (International Finance Review; Vol. 1). Emerald Group Publishing Limited. https://doi.org/10.1016/S1569-3767(00)01010-4
Bilson, Christopher ; Hooper, Vince ; Jaugietis, Martin. / The impact of liberalization and regionalism upon capital markets in emerging Asian economies. Asian Financial Crisis Financial, Structural and International Dimensions. editor / J. Jay Choi. Emerald Group Publishing Limited, 2000. pp. 199-235 (International Finance Review).
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Bilson, C, Hooper, V & Jaugietis, M 2000, The impact of liberalization and regionalism upon capital markets in emerging Asian economies. in JJ Choi (ed.), Asian Financial Crisis Financial, Structural and International Dimensions. International Finance Review, vol. 1, Emerald Group Publishing Limited, pp. 199-235. https://doi.org/10.1016/S1569-3767(00)01010-4

The impact of liberalization and regionalism upon capital markets in emerging Asian economies. / Bilson, Christopher; Hooper, Vince; Jaugietis, Martin.

Asian Financial Crisis Financial, Structural and International Dimensions. ed. / J. Jay Choi. Emerald Group Publishing Limited, 2000. p. 199-235 (International Finance Review; Vol. 1).

Research output: Chapter in Book/Report/Conference proceedingChapterResearchpeer-review

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Bilson C, Hooper V, Jaugietis M. The impact of liberalization and regionalism upon capital markets in emerging Asian economies. In Choi JJ, editor, Asian Financial Crisis Financial, Structural and International Dimensions. Emerald Group Publishing Limited. 2000. p. 199-235. (International Finance Review). https://doi.org/10.1016/S1569-3767(00)01010-4