Development of the Asia Pacific Banking System

Xiaoqing Maggie Fu, Yongjia Rebecca Lin and Philip Molyneux ()
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Xiaoqing Maggie Fu: University of Macau
Yongjia Rebecca Lin: Macau University of Science and Technology

Chapter 2 in Bank Competition, Efficiency and Liquidity Creation in Asia Pacific, 2015, pp 5-48 from Palgrave Macmillan

Abstract: Abstract Banks have continuously dominated financial systems across the Asia Pacific region and played an important role in regional economic development. After experiencing rapid growth during the 1990s, Asia Pacific financial systems, especially banking systems, were hit hard by the 1997 Asian financial crisis. Regulators implemented a series of reforms to improve bank efficiency, competition, regulation, supervision, and profitability to enhance financial stability. These efforts have made Asia Pacific banking systems more resilient. These banks have weathered the global financial crisis much better than they did during the Asian financial crisis and better than banks in the U.S. and Europe. Basel III, which responded to the problems of sophisticated Western financial systems, have been widely implemented in Asia Pacific financial systems that are bank-dominated systems with relatively small capital markets and limited securitization. Tighter capital and liquidity requirements under Basel III may constrain bank lending and economic development. Therefore, the effectiveness of the Basel III changes is unclear.

Keywords: International Monetary Fund; Banking System; Global Financial Crisis; Asia Pacific Region; Asian Financial Crisis (search for similar items in EconPapers)
Date: 2015
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Persistent link: https://EconPapers.repec.org/RePEc:pal:pmschp:978-1-137-53384-5_2

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DOI: 10.1057/9781137533845_2

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