Capital Market Reform in Asia

Preface
Introduction
I: DEVELOPMENT OF CAPITAL MARKETS IN ASIA
Banks and Financial Intermediation in Emerging Asia: Reforms and New Risks - M S Mohanty and Philip Turner
How to Develop Capital Markets in East Asia - Andrew Sheng
II: ISSUES OF CAPITAL MARKET REFORM
Capital Market Reform in Malaysia - Zarinah Anwar
Non-tradable Share Reform in the People's Republic of China - Xinghai Fang
Trends and Best Practices in Shaping OECD Public Debt Management and Government Securities Markets - Hans J Blommestein
Ten Years After: Implications of the Current Financial Market Turmoil - Atchana Waiquamdee
Facing the North-Atlantic Financial Crisis: A European Perspective - Hans-Helmut Kotz
III: EMERGING RISKS AND CHALLENGES OF REGULATION, SUPERVISION, AND CORPORATE GOVERNANCE
Corporate Governance: An IOSCO Perspective - Jeremy Cooper
Governance of and by Institutional Investors in the OECD Area - Stephen Lumpkin
Restoring Trust in Financial Markets - Stephen Grenville
Financial Sector Supervision: What We Have Learned So Far - Stephen Grenville
Investor Protection in the Asia Pacific: Survey Findings of the Asia-Pacific Regional Committee - Lynn Hew and Mohammad Nizam Ismail
The Elephant in the Room: The Need to Deal with What Banks Do - Adrian Blundell-Wignall, Gert Wehinger, and Patrick Slovik
IV: REGIONAL CO-OPERATION AND INTEGRATION OF CAPITAL MARKETS IN ASIA
A New Financial Market Structure for East Asia: How to Promote Regional Financial Market Integration - Gordon de Brouwer and Jenny Corbett
The Integration of Capital Markets in the Asian Region: Some Practical Steps Forward - Gordon de Brouwer and Lorraine Allan
The Asian Bond Fund-2 and Regional Initiatives - Thirachai Phuvanatnaranubala
The Role of Capital Markets in Infrastructure Financing - Worapot Manupipatpong
Index

Masahiro Kawai is Professor at the Graduate School of Public Policy, University of Tokyo. He was Dean and CEO of the Asian Development Bank Institute (ADBI) from January 2007 to February 2014. He holds a PhD in economics from Stanford University. Andrew Sheng, a chartered accountant (FCA, 1972) by profession, is currently the Chief Adviser to the China Banking Regulatory Commission. In addition to this position, he holds several academic, statutory and corporate sector appointments in Malaysia, India and Qatar: Adjunct Professor at the Graduate School of Economics and Management, Tsinghua University, Beijing; Pro-Chancellor of the Universiti Tun Abdul Razak, Malaysia; Adjunct Professor and Third Holder of the Tun Ismail Ali Chair at the Faculty of Economics & Administration, University of Malaya; member of the Malaysian National Economic Advisory Council (NEAC), the Governing Council of the International Centre for Education in Islamic Finance (INCEIF), the Advisory Council of the Iskandar Regional Development Authority and the International Advisory Panel of the Labuan Offshore Financial Services Authority (LOFSA); Director of Khazanah Nasional; Board Member of Sime Darby Berhad, International Advisory Council Member of the China Investment Corporation; Board Member of the Qatar Financial Centre Regulatory Authority, Board Member of the Advisory Council of the National Institute of Securities Market, India (NISM) and member of the Advisory Board of the Emerging markets Forum. Sheng has been Co-Chair of the OECD-ADBI Roundtable Conference on Capital Market Reform in Asia since 2005. A central banker by training, he was an Assistant Governor and Chief Economist of Bank and Insurance Regulations at Bank Negara Malaysia. Between 1989 and 1993, he was Senior Manager, Financial Sector Development Department, World Bank. In Hong Kong, China, he was the Deputy Chief Executive responsible for the Reserves Management and External Affairs Departments of the Hong Kong