Derivatives and Global Capital Flows: Applications to Asia

Jan Kregel

Cambridge Journal of Economics, 1998, vol. 22, issue 6, 677-92

Abstract: The role of derivatives contracts in explaining the existence of a number of puzzles associated with the Asian financial crisis is investigated. The shift to short-term commercial bank lending in a region that traditionally relied on direct investment, the allocation of resources to low-return uses in an area considered to be highly profitable, lax prudential supervision in systems that had introduced financial reforms early, and the comovement of asset prices and exchange rates, which was to have been eliminated by direct equity investments, are all linked to the characteristics of derivative contracts used to provide lending to Asia. Copyright 1998 by Oxford University Press.

Date: 1998
References: Add references at CitEc
Citations: View citations in EconPapers (15)

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

Related works:
Chapter: Derivatives and Global Capital Flows: Applications to Asia (2001)
Working Paper: Derivatives and Global Capital Flows: Applications to Asia (1998)
Working Paper: Derivatives and Global Capital Flows: Applications to Asia (1998)
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:oup:cambje:v:22:y:1998:i:6:p:677-92

Ordering information: This journal article can be ordered from
https://academic.oup.com/journals

Access Statistics for this article

Cambridge Journal of Economics is currently edited by Jacqui Lagrue

More articles in Cambridge Journal of Economics from Cambridge Political Economy Society Oxford University Press, Great Clarendon Street, Oxford OX2 6DP, UK.
Bibliographic data for series maintained by Oxford University Press ().