Destructive Creativity of Wall Street and the East Asian Response
Destructive Creativity of Wall Street and the East Asian Response

Author: Michael S. H. Heng

Publisher: World Scientific

Published: 2009

Total Pages: 267

ISBN-13: 9814273791

DOWNLOAD EBOOK

The current financial crisis provides a valuable occasion for the world to re-examine the grand statements of wisdom which dominate the financial world for a long time. The impact is extremely serious as a result of the convergence of a number of factors such as huge current account deficits of the United States, globalization, deregulation, loose monetary policy, and excessive liquidity. This book seeks to address the critical issues in deregulation, derivatives, leveraging, remuneration systems, and rating agencies. This book will also examine Asia''s response and why Asian economies have been less affected by the global financial crisis. Are corporate governance, culture, management styles or even a state-led model the main reasons? Would the Asian sovereign funds help to be the last line of defense against the excesses of the crisis? Is the US$80 billion Asian crisis fund envisaged as the first instance of a coordinated East Asian response to the crisis and would this truly underpin the creation of an East Asian regional order? This book reaffims the need for banks and financial institutions to provide value-adding services, exercise prudence and due diligence and pay due regard for societal interest.

Destructive Creativity Of Wall Street And The East Asian Response
Destructive Creativity Of Wall Street And The East Asian Response

Author: Michael Siam-heng Heng

Publisher: World Scientific

Published: 2009-05-04

Total Pages: 267

ISBN-13: 9814467766

DOWNLOAD EBOOK

The current financial crisis provides a valuable occasion for the world to re-examine the grand statements of wisdom which dominate the financial world for a long time. The impact is extremely serious as a result of the convergence of a number of factors such as huge current account deficits of the United States, globalization, deregulation, loose monetary policy, and excessive liquidity. This book seeks to address the critical issues in deregulation, derivatives, leveraging, remuneration systems, and rating agencies.This book will also examine Asia's response and why Asian economies have been less affected by the global financial crisis. Are corporate governance, culture, management styles or even a state-led model the main reasons? Would the Asian sovereign funds help to be the last line of defense against the excesses of the crisis? Is the US$80 billion Asian crisis fund envisaged as the first instance of a coordinated East Asian response to the crisis and would this truly underpin the creation of an East Asian regional order? This book reaffims the need for banks and financial institutions to provide value-adding services, exercise prudence and due diligence and pay due regard for societal interest.

The Theoretical and Practical Dimensions of Regionalism in East Asia
The Theoretical and Practical Dimensions of Regionalism in East Asia

Author: Karolina Klecha-Tylec

Publisher: Springer

Published: 2016-11-29

Total Pages: 387

ISBN-13: 3319402625

DOWNLOAD EBOOK

This book provides a comprehensive overview of developments in East Asian regionalism, combining qualitative evidence with empirical quantitative analysis. It argues that two dominant processes have formed East Asian regionalism: 1) regionalization, and 2) inter-regionalism. Klecha-Tylec examines the differences between traditional and new regionalisms as they apply to East Asia; the differences between East Asian and European regionalism; the role of the United States in shaping regional links; and the evolution of the three key structures of ASEAN, ASEAN+3, and Asia Summits. The book is unique for examining together the network, zonal, and geospatial dimensions of relations in East Asia as they apply at micro-regional, sub-regional, macro-regional, trans-regional and inter-regional levels. The book offers a detailed analysis of intra-regional links and the hybrid relationships between micro-regions and nation-states.

Great Recession, The: History, Ideology, Hubris And Nemesis
Great Recession, The: History, Ideology, Hubris And Nemesis

Author: Michael Siam-heng Heng

Publisher: World Scientific

Published: 2010-07-16

Total Pages: 285

ISBN-13: 981433863X

DOWNLOAD EBOOK

Many books on the 2008 financial crisis and the current recession focus on the financial sector. Unlike them, this book takes the real economy as the starting point and it situates the downturn within the societal context over the last several decades. Important elements of the story include global manufacturing overcapacity and declining profitability, failure of advanced industrial economies to make a quantum jump in discoveries and innovations across a broad range of technologies, ascent of neo-liberalism after the fall of the Berlin Wall, the Asian financial crisis, the Japanese “lost decade”, and the dot-com boom. This provides the backdrop of the birth of a market society, deregulation, easy credit, and financial excesses.The financial crisis reveals much that has gone astray in the business world over the last few decades — short term thinking, manipulation of figures and image management at the cost of the basics. The financial sector has become an arena for accounting shenanigans and corporate skullduggery. It is also a symptom of deeper social and cultural change. Crisis of a very serious nature functions as a cleansing exercise. Already we have seen debates which re-examine values and ideas, state policy and business practices. If the world could rise to the challenge, history will view the crisis as a blessing in disguise and thus render it in positive terms.

Destructive Creativity of Wall St. and the East Asian Response
Destructive Creativity of Wall St. and the East Asian Response

Author: Michael S. H. Heng

Publisher: World Scientific

Published: 2009

Total Pages: 267

ISBN-13: 9814273783

DOWNLOAD EBOOK

The current financial crisis provides a valuable occasion for the world to re-examine the grand statements of wisdom which dominate the financial world for a long time. The impact is extremely serious as a result of the convergence of a number of factors such as huge current account deficits of the United States, globalization, deregulation, loose monetary policy, and excessive liquidity. This book seeks to address the critical issues in deregulation, derivatives, leveraging, remuneration systems, and rating agencies. This book will also examine Asia's response and why Asian economies have been less affected by the global financial crisis. Are corporate governance, culture, management styles or even a state-led model the main reasons? Would the Asian sovereign funds help to be the last line of defense against the excesses of the crisis? Is the US$80 billion Asian crisis fund envisaged as the first instance of a coordinated East Asian response to the crisis and would this truly underpin the creation of an East Asian regional order? This book reaffims the need for banks and financial institutions to provide value-adding services, exercise prudence and due diligence and pay due regard for societal interest.

Technology, Economic Growth and Crises in East Asia
Technology, Economic Growth and Crises in East Asia

Author: G. Chris Rodrigo

Publisher: Edward Elgar Publishing

Published: 2001

Total Pages: 216

ISBN-13:

DOWNLOAD EBOOK

This important book develops an evolutionary conception of growth in East Asia, in which technology, organizations and institutions interact and co-evolve to advance productivity. Episodic crises are seen as disruptions which bring to the fore structural and institutional flaws that need reform. The author begins with a thorough analysis of the neo-classical theory of technical change and shows that it fails to capture crucial aspects of the various learning processes involved. He goes on to develop a comprehensive framework for understanding technological progress. Productivity growth is seen as deriving from knowledge hard-coded in equipment and structures, and soft-coded in human skill, organizations and institutions that guide economic activity. The role of exports in promoting faster growth is also examined, as are the channels of technological capability acquisition. This book will be welcomed by academics, policymakers, students, government bodies and business people interested in East Asian growth and in understanding technological change in general.

Creative Destruction
Creative Destruction

Author: Tyler Cowen

Publisher:

Published: 2002

Total Pages: 179

ISBN-13: 9780691090160

DOWNLOAD EBOOK

Links globalization to changing trends in modern culture to present a case for a more sympathetic understanding of cross-cultural trade, considering such topics as the market exchange versus aesthetic quality, the impact of technology on art, and the affect of globalization on societal intelligence. (Social Science)

Economic Growth and Development in Singapore
Economic Growth and Development in Singapore

Author: Gavin Peebles

Publisher: Edward Elgar Publishing

Published: 2002

Total Pages: 356

ISBN-13:

DOWNLOAD EBOOK

In this book Gavin Peebles and Peter Wilson offer an historical overview of the rapid growth and development of the Singapore economy, detailing the institutions and policies which have made this growth possible. They examine the current state of the economy and its future in terms of prospective growth and structural change. The authors discuss the conflicting views on the role of government and the public sector in the economy, and analyse the quality and sustainability of growth. They explore the structural changes which have occurred due to high rates of savings and investment, a large balance of payments surplus and monetary, financial and fiscal conditions. Important in this analysis is the extent to which Singaporeans themselves have benefited in terms of welfare. The authors also identify the key roles played by trade policy, and financial and exchange rate institutions in creating and sustaining growth. In the aftermath of the Asian financial crisis, they assess the current health of the economy and the implementation of reforms to achieve the government's vision of a 'New Singapore'. Based on the authors' own combined experiences of living in Singapore for over 20 years, this broadbased and analytical book sheds light on Singapore's status in the world economy. The integration of economic, social and political perspectives will ensure the book's broad appeal amongst scholars, students and researchers interested in growth and economic development in Singapore and South-east Asia.

Recent Developments in Computational Finance
Recent Developments in Computational Finance

Author: Thomas Gerstner

Publisher: World Scientific

Published: 2013

Total Pages: 481

ISBN-13: 9814436429

DOWNLOAD EBOOK

Computational finance is an interdisciplinary field which joins financial mathematics, stochastics, numerics and scientific computing. Its task is to estimate as accurately and efficiently as possible the risks that financial instruments generate. This volume consists of a series of cutting-edge surveys of recent developments in the field written by leading international experts. These make the subject accessible to a wide readership in academia and financial businesses. The book consists of 13 chapters divided into 3 parts: foundations, algorithms and applications. Besides surveys of existing results, the book contains many new previously unpublished results.