Competition among Financial Centres in Asia-Pacific: Prospects, Benefits, Risks and Policy Challenges
Many cities in the Asia-Pacific region serve as financial centres in their respective national jurisdictions or local areas. Noting that most were engaged in efforts to become premier international financial centres (IFCs) in competition with one another, the Korea National Committee for Pacific Eco...
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| Format: | Elektronisch E-Book |
| Sprache: | English |
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Singapore
ISEAS Publishing
[2009]
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| Schlagworte: | |
| Online-Zugang: | FHA01 FKE01 FLA01 UPA01 UBG01 FAW01 FAB01 FCO01 Volltext |
| Zusammenfassung: | Many cities in the Asia-Pacific region serve as financial centres in their respective national jurisdictions or local areas. Noting that most were engaged in efforts to become premier international financial centres (IFCs) in competition with one another, the Korea National Committee for Pacific Economic Cooperation (KOPEC) convened an international conference in Seoul, Korea in October 2007 to examine the prospects for success for seven such financial centres (Hong Kong, Seoul, Shanghai, Singapore, Sydney, Tokyo and Wellington), weigh the costs and benefits of such competition for local economies as well as the region as a whole, and derive implications for cooperation among the regional governments. The present volume consists of case studies and commentaries presented at the conference as well as the synthesis report, which draws conclusions from those papers and commentaries. One of those conclusions is that, given the power of scale economies as well as the lack of integration of the financial markets in the region, none of the regional financial centres, even Hong Kong, Singapore or Tokyo, considered alone represents a meaningful rival to London or New York, the two existing global financial centres. The synthesis report thus argues for regional cooperation to integrate all those financial centres into an Asia-Pacific IFC network. It further argues that the present global financial crisis presents a major opportunity for regional governments to create such an IFC network that will challenge London and New York in quality as well as quantity of international financial business while helping the latter two overcome the current global crisis. This would open the path towards a stable and resilient Asia-Pacific financial community, with the constituent regional economies no longer vulnerable to the problems of the so-called original sin and double mismatch |
| Beschreibung: | Description based on online resource; title from PDF title page (publisher's Web site, viewed 22. Jun 2018) |
| Beschreibung: | 1 online resource |
| ISBN: | 9789812309310 |
| DOI: | 10.1355/9789812309310 |
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| 520 | |a Many cities in the Asia-Pacific region serve as financial centres in their respective national jurisdictions or local areas. Noting that most were engaged in efforts to become premier international financial centres (IFCs) in competition with one another, the Korea National Committee for Pacific Economic Cooperation (KOPEC) convened an international conference in Seoul, Korea in October 2007 to examine the prospects for success for seven such financial centres (Hong Kong, Seoul, Shanghai, Singapore, Sydney, Tokyo and Wellington), weigh the costs and benefits of such competition for local economies as well as the region as a whole, and derive implications for cooperation among the regional governments. The present volume consists of case studies and commentaries presented at the conference as well as the synthesis report, which draws conclusions from those papers and commentaries. One of those conclusions is that, given the power of scale economies as well as the lack of integration of the financial markets in the region, none of the regional financial centres, even Hong Kong, Singapore or Tokyo, considered alone represents a meaningful rival to London or New York, the two existing global financial centres. The synthesis report thus argues for regional cooperation to integrate all those financial centres into an Asia-Pacific IFC network. It further argues that the present global financial crisis presents a major opportunity for regional governments to create such an IFC network that will challenge London and New York in quality as well as quantity of international financial business while helping the latter two overcome the current global crisis. This would open the path towards a stable and resilient Asia-Pacific financial community, with the constituent regional economies no longer vulnerable to the problems of the so-called original sin and double mismatch | ||
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Datensatz im Suchindex
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| spelling | Competition among Financial Centres in Asia-Pacific Prospects, Benefits, Risks and Policy Challenges Soogil Young, Dosoung Choi, Jesus Seade, Sayuri Shirai Singapore ISEAS Publishing [2009] © 2009 1 online resource txt rdacontent c rdamedia cr rdacarrier Description based on online resource; title from PDF title page (publisher's Web site, viewed 22. Jun 2018) Many cities in the Asia-Pacific region serve as financial centres in their respective national jurisdictions or local areas. Noting that most were engaged in efforts to become premier international financial centres (IFCs) in competition with one another, the Korea National Committee for Pacific Economic Cooperation (KOPEC) convened an international conference in Seoul, Korea in October 2007 to examine the prospects for success for seven such financial centres (Hong Kong, Seoul, Shanghai, Singapore, Sydney, Tokyo and Wellington), weigh the costs and benefits of such competition for local economies as well as the region as a whole, and derive implications for cooperation among the regional governments. The present volume consists of case studies and commentaries presented at the conference as well as the synthesis report, which draws conclusions from those papers and commentaries. One of those conclusions is that, given the power of scale economies as well as the lack of integration of the financial markets in the region, none of the regional financial centres, even Hong Kong, Singapore or Tokyo, considered alone represents a meaningful rival to London or New York, the two existing global financial centres. The synthesis report thus argues for regional cooperation to integrate all those financial centres into an Asia-Pacific IFC network. It further argues that the present global financial crisis presents a major opportunity for regional governments to create such an IFC network that will challenge London and New York in quality as well as quantity of international financial business while helping the latter two overcome the current global crisis. This would open the path towards a stable and resilient Asia-Pacific financial community, with the constituent regional economies no longer vulnerable to the problems of the so-called original sin and double mismatch In English Competition Asia Congresses Competition Pacific Area Congresses Financial institutions Asia Congresses Financial institutions Pacific Area Congresses 1\p (DE-588)1071861417 Konferenzschrift gnd-content Choi, Dosoung edt Seade, Jesus edt Shirai, Sayuri edt Young, Soogil edt https://doi.org/10.1355/9789812309310 Verlag URL des Erstveröffentlichers Volltext 1\p cgwrk 20201028 DE-101 https://d-nb.info/provenance/plan#cgwrk |
| spellingShingle | Competition among Financial Centres in Asia-Pacific Prospects, Benefits, Risks and Policy Challenges Competition Asia Congresses Competition Pacific Area Congresses Financial institutions Asia Congresses Financial institutions Pacific Area Congresses |
| subject_GND | (DE-588)1071861417 |
| title | Competition among Financial Centres in Asia-Pacific Prospects, Benefits, Risks and Policy Challenges |
| title_auth | Competition among Financial Centres in Asia-Pacific Prospects, Benefits, Risks and Policy Challenges |
| title_exact_search | Competition among Financial Centres in Asia-Pacific Prospects, Benefits, Risks and Policy Challenges |
| title_full | Competition among Financial Centres in Asia-Pacific Prospects, Benefits, Risks and Policy Challenges Soogil Young, Dosoung Choi, Jesus Seade, Sayuri Shirai |
| title_fullStr | Competition among Financial Centres in Asia-Pacific Prospects, Benefits, Risks and Policy Challenges Soogil Young, Dosoung Choi, Jesus Seade, Sayuri Shirai |
| title_full_unstemmed | Competition among Financial Centres in Asia-Pacific Prospects, Benefits, Risks and Policy Challenges Soogil Young, Dosoung Choi, Jesus Seade, Sayuri Shirai |
| title_short | Competition among Financial Centres in Asia-Pacific |
| title_sort | competition among financial centres in asia pacific prospects benefits risks and policy challenges |
| title_sub | Prospects, Benefits, Risks and Policy Challenges |
| topic | Competition Asia Congresses Competition Pacific Area Congresses Financial institutions Asia Congresses Financial institutions Pacific Area Congresses |
| topic_facet | Competition Asia Congresses Competition Pacific Area Congresses Financial institutions Asia Congresses Financial institutions Pacific Area Congresses Konferenzschrift |
| url | https://doi.org/10.1355/9789812309310 |
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