The reform in Asian financial sectors--especially in banking and stock markets--has been remarkable since the currency crisis of 1997-98. East Asia is now a major player in international finance, providing serious competition to the more traditional financial centers of London and New York. Financial Sector Development in the Pacific Rim provides a rich collection of theoretical and empirical analyses of the growing capital markets in the region. Bringing together authors from various East Asian and Pacific nations, this volume examines the institutional factors influencing financial innovation, the consequences of financial development, widespread consolidation occurring through mergers and acquisitions, and the implementation of policy reform. Financial Sector Development in the Pacific Rim offers the comparative analysis necessary to answer broad questions about economic development and the future of Asia.

From the estate of Edward Kane, an internationally recognized economist specializing in banking and financial regulation.  Kane held the James. F. Cleary Chair in Finance at Boston College until retirement, and earlier in his career taught for 20 years at Ohio State.  His analysis informed modern banking regulations and, as a fan of comic books and horror movies, he is also remembered for coining the now widely-known term "zombie banks".