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Financial Sector Policy In Thailand
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Book Synopsis Financial Sector Policy in Thailand by : William Russell Easterly
Download or read book Financial Sector Policy in Thailand written by William Russell Easterly and published by World Bank Publications. This book was released on 1990 with total page 73 pages. Available in PDF, EPUB and Kindle. Book excerpt: How well Thailand's financial sector can provide the investible funds demanded by the country's current boom depends partly on its ability to mobilize savings - through official policy on credit allocation and through the movement of capital internationally.
Author :International Monetary Fund. Monetary and Capital Markets Department Publisher :International Monetary Fund ISBN 13 :1513516485 Total Pages :136 pages Book Rating :4.5/5 (135 download)
Book Synopsis Thailand by : International Monetary Fund. Monetary and Capital Markets Department
Download or read book Thailand written by International Monetary Fund. Monetary and Capital Markets Department and published by International Monetary Fund. This book was released on 2019-10-07 with total page 136 pages. Available in PDF, EPUB and Kindle. Book excerpt: This Financial System Stability Assessment paper on Thailand highlights that assets of the insurance and mutual fund sectors have doubled as a share of gross domestic product over the last decade, and capital markets are largely on par with regional peers. The report discusses significant slowdown in China and advanced economies, a sharp rise in risk premia, and entrenched low inflation would adversely impact the financial system. Stress tests results suggest that the banking sector is resilient to severe shocks and that systemic and contagion risks stemming from interlinkages are limited. Financial system oversight is generally strong, but the operational independence of supervisory agencies can be strengthened further. The operational independence of supervisory agencies can be strengthened further by reducing the involvement of the Ministry of Finance in prudential issues and ensuring that each agency has full control over decisions that lie within its areas of responsibility.
Book Synopsis Thailand:Financial Sector Reform and the East Asian Crises by : Tull Traisaorat
Download or read book Thailand:Financial Sector Reform and the East Asian Crises written by Tull Traisaorat and published by Springer. This book was released on 2000-02-23 with total page 474 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book takes as its focus the current supervisory and regulatory framework for bank supervision in Thailand and the Thai authorities' efforts to modernise and restructure the Thai banking system. It examines the obstacles to this restructuring, which include the current economic difficulties in Thailand and the East Asia region as well as more fundamental historical, cultural and socio-economic factors that underpin Thai society. The book looks at the numerous banking statutes put in place in Thailand in the past sixty years, including legislation of the 1980s in response to problems involving fraud, insider dealing and solvency concerns. It examines how historically ambiguous structures of governmental responsibility and power, and a heavy emphasis on government discretion in regulation, have so far inhibited the effectiveness of this extensive body of legislation in developing a sound modern banking system. There follows an in-depth analysis of the 1997-1998 Thai Banking Crisis and ways in which lessons can be learned to avoid similar crises in future. The author argues for a greater degree of transparency in the regulatory process to bring it into line with internationally accepted standards, for increased supervisory implementation and enforcement by Thai governmental authorities, and for the ultimate depoliticisation of the bank regulatory and supervisory processes.
Book Synopsis Financial Liberalization and the Capital Account by : Pedro Alba
Download or read book Financial Liberalization and the Capital Account written by Pedro Alba and published by World Bank Publications. This book was released on 1999 with total page 68 pages. Available in PDF, EPUB and Kindle. Book excerpt: Thailand's economic crisis in 1997 was fundamentally one of private sector debt, rooted in private behavior that affected the magnitude and composition of investment and how it was financed. Thailand's crisis provides further evidence that financial liberalization must be carefully managed because, by increasing competition, it lowers the franchise value of existing financial institutions and creates incentives for unsound banking practices.
Author :International Monetary Fund. Asia and Pacific Dept Publisher :International Monetary Fund ISBN 13 :148437651X Total Pages :71 pages Book Rating :4.4/5 (843 download)
Book Synopsis Thailand by : International Monetary Fund. Asia and Pacific Dept
Download or read book Thailand written by International Monetary Fund. Asia and Pacific Dept and published by International Monetary Fund. This book was released on 2016-06-08 with total page 71 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper discusses recent developments, outlook and risk, and policies required for a long-lasting recovery of Thailand’s economy. Thailand remains resilient in the face of external and internal challenges. However, political uncertainty and structural bottlenecks cloud long-term prospects. The economy recovered in 2015 after a slowdown induced by political uncertainty. Public investment supported economic activity, particularly through community-based infrastructure projects. Monetary policy was eased in the face of below-target inflation. The credit cycle moderated, but household debt reached a historic high. Implementing high-quality fiscal stimulus, easing monetary policy, and safeguarding financial sector stability can strengthen long-term sustainability, equity, and efficiency of Thailand’s economy.
Book Synopsis 21st Century Thailand by : Pansak Vinyaratn
Download or read book 21st Century Thailand written by Pansak Vinyaratn and published by . This book was released on 2004 with total page 142 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Thailand's Corporate Financing and Governance Structures by : Pedro Alba
Download or read book Thailand's Corporate Financing and Governance Structures written by Pedro Alba and published by World Bank Publications. This book was released on 1998 with total page 31 pages. Available in PDF, EPUB and Kindle. Book excerpt: November 1998 Weaknesses in corporate governance and the fragile financial structure of many corporations contributed to, and deepened Thailand's recent financial crisis. Large corporations need to reduce their vulnerability to economic shocks and improve corporate governance; smaller firms should achieve a more stable funding structure. Alba, Claessens, and Djankov assess Thailand's policy options for reducing large corporations' vulnerability to economic shocks and improving their corporate governance - and for providing smaller firms a more stable funding structure. Using data for firms listed on Thailand's stock exchange, they empirically assess the relative importance of various factors determining the cost of capital, the availability of financing, and policies and distortions that affect corporate governance in nonfinancial firms. The empirical findings highlight weaknesses in corporate governance and the inherent risks in Thailand's corporate financing structures. They conclude that the most important ask in improving the structure of corporate financing and the framework for corporate governance is to change incentives. This will involve: * Accelerating legal reform, including reform of bankruptcy and foreclosure laws. * Improving bank monitoring of enterprise management and encouraging banks to develop more arm's-length relationships with firms. This will require greater transparency and disclosure of ownership relationships and stricter enforcement of insider and related lending limits, violation of which contributed poor intermediation and the recent crisis. * Improving disclosure and accounting practices. Self-regulatory agencies may need to play more of a role, possibly with more legal power to discipline violators. * Better enforcement of corporate governance rules. The formal structure for corporate governance is standard but enforcement is weak. * Facilitation of equity infusions. Investors - especially minority shareholders - may need to play a more direct role in monitoring and disciplining managers. To attract new infusions of equity, new equity owners may need more-than-proportional representation on the board of directors until other investor protection mechanisms are strengthened. * Improving the framework for corporate governance. A broad public discussion of corporate governance, similar to recent discussions in the United Kingdom and elsewhere, may be needed to clarify the distribution of control in the economy's real sector. * Strengthening institutions responsible for gathering and analyzing data on firms of all sizes and for monitoring firm performance and behavior. This paper-a product of the Economic Policy Unit, Finance, Private Sector, and Infrastructure Network-is part of a larger effort in the network to study the performance and financing structures of East Asian corporations.
Author :International Monetary Fund. Monetary and Capital Markets Department Publisher :International Monetary Fund ISBN 13 :1513517597 Total Pages :258 pages Book Rating :4.5/5 (135 download)
Book Synopsis Thailand by : International Monetary Fund. Monetary and Capital Markets Department
Download or read book Thailand written by International Monetary Fund. Monetary and Capital Markets Department and published by International Monetary Fund. This book was released on 2019-10-24 with total page 258 pages. Available in PDF, EPUB and Kindle. Book excerpt: This Detailed Assessment of Observance on the Basel Core Principles (BCP) for effective banking supervision on Thailand highlights that there have been significant enhancements to the legal framework and the supervisory process since the last BCP review, resulting in high compliance. The commercial banking sector appears to be sound and stable with a diversified lending profile and a steady source of funding. The involvement of other ministerial authorities in Specialized Financial Institutions supervision may affect standard-setting processes and the mindset of key decision makers for commercial banks when trying to level regulatory standards. The supervisory framework and practices provide the foundation for the continued development of risk-based supervision. Notifications and examination manuals increasingly focus on analysis of qualitative factors such as governance, risk management and risk appetite statements to determine the bank’s composite rating. The report recommends that efficiency of enforcement actions would be increased by aligning Financial Institutions Business Act requirements and Bank of Thailand internal practices.
Book Synopsis Financial Development and Monetary Policy in Thailand by : June Nualtaranee
Download or read book Financial Development and Monetary Policy in Thailand written by June Nualtaranee and published by . This book was released on 1999 with total page 232 pages. Available in PDF, EPUB and Kindle. Book excerpt: Chapter 3 examines the causal relationship between development in the financial sector and economic growth using a cointegration method, error correction model, Granger causality test, variance decomposition, and impulse response functions. The results show that commercial banks have been the most important financial institutions, serving as an engine that has driven economic development. Other financial institutions such as finance and securities companies may also have complementary effects over the period of their rapid development that followed the economic boom in 1987.
Book Synopsis Synergies Between Monetary and Macroprudential Policies in Thailand by : Ichiro Fukunaga
Download or read book Synergies Between Monetary and Macroprudential Policies in Thailand written by Ichiro Fukunaga and published by International Monetary Fund. This book was released on 2020-06-05 with total page 28 pages. Available in PDF, EPUB and Kindle. Book excerpt: A dynamic stochastic general equilibrium (DSGE) model tailored to the Thai economy is used to explore the performance of alternative monetary and macroprudential policy rules when faced with shocks that directly impact the financial cycle. In this context, the model shows that a monetary policy focused on its traditional inflation and output objectives accompanied by a well targeted counter-cyclical macroprudential policy yields better macroeconomic outcomes than a lean-against-the-wind monetary policy rule under a wide range of assumptions.
Download or read book Finance in Asia written by Qiao Liu and published by Routledge. This book was released on 2013 with total page 634 pages. Available in PDF, EPUB and Kindle. Book excerpt: Asia's demand for second-generation financial institutions and markets needs to be met in order for the region's further development to be sustained. This book provides a compelling, fact-based assessment of current practices and regulations in Asia's financial institutions and markets and carefully documents the exciting opportunities and challenges that lie ahead in the region's financial systems. This book differs in design from typical treatments of financial institutions and markets because its focus is on Asia rather than using the US model (in terms of market configurations or products) as a benchmark, and its takes a contemporary and forward-looking view of financial markets. Examples of practice from Asia are used to illustrate major accepted themes in finance and financial regulation. To the extent that Asia's main economies share characteristics that are distinct, for example, in the relationship between government and the banking sector, or in aspects of corporate governance, the book will discuss the consequences for market operation and intermediation. The book's carefully structured facts and rigorously argued analysis carry important implications both for students in business and law and for professionals new to financial markets in Asia. It will change the way that Asian financial markets and institutions is taught in universities as well as provide a valuable resource for professionals working in finance in Asia.
Book Synopsis Patterns of Financial Intermediation in Thailand by : Bank of Thailand
Download or read book Patterns of Financial Intermediation in Thailand written by Bank of Thailand and published by . This book was released on 2015 with total page 24 pages. Available in PDF, EPUB and Kindle. Book excerpt: Over the past decade, the domestic bond market and specialised financial institutions (SFIs) have played a greater role in financial intermediation in Thailand. The bond market's increasing importance in financial resource allocation is due mainly to a set of policies to promote the financial markets as an alternative source of financing for the banking sector in both the public and private sectors. Other contributory factors arise from the lengthy and unprecedented post-crisis monetary easing in advanced economies, which has led to increased foreign demand for domestic bonds. In addition, accommodative domestic financial conditions have recently incentivised Thai firms to participate more in the bond market to lock in low interest rates. Within the Thai banking sector, SFIs have gained more importance in credit extension, initially as a main part of the government's countercyclical policies during the global financial crisis (GFC), and to support the government's spending and stimulus measures in the subsequent periods. In Thailand, risks to external vulnerabilities remain contained. Despite high global liquidity, Thai firms' offshore borrowing remains limited owing to the relatively lower costs of domestic funding. Following the GFC, commercial banks' foreign liabilities have continued to grow, but remain contained relative to their balance sheets. Across the period, the degree of monetary policy effectiveness has been affected by the increasing importance of the domestic bond market and SFIs. Looking ahead, the monetary policy priority is to support an ongoing economic recovery against the backdrop of a subdued inflation outlook and impending global financial market volatility.Full publication: "http://ssrn.com/abstract=2692232" What Do New Forms of Finance Mean for EM Central Banks?
Book Synopsis The Changing Politics of Finance in Korea and Thailand by : Xiaoke Zhang
Download or read book The Changing Politics of Finance in Korea and Thailand written by Xiaoke Zhang and published by Routledge. This book was released on 2003-08-29 with total page 255 pages. Available in PDF, EPUB and Kindle. Book excerpt: This is the first systematic attempt to explore the causal relationship between financial market reform and financial crisis in an interdisciplinary and comparative perspective. It examines the political underpinnings of financial policy-change and provides an in-depth analysis of market liberalisation processes and their impact on the economic turmoil of 1997-98 in Korea and Thailand. The common crisis stemmed from divergent reform patterns and originated from dissimilar institutional deficiencies and political constraints. The book will be essential reading for both policy-makers and academics concerned with national governance in an era of globalisation.
Book Synopsis Financial Liberalization and the Capital Account by : Pedro Alba
Download or read book Financial Liberalization and the Capital Account written by Pedro Alba and published by . This book was released on 2004 with total page 60 pages. Available in PDF, EPUB and Kindle. Book excerpt: Thailand's economic crisis in 1997 was fundamentally one of private sector debt, rooted in private behavior that affected the magnitude and composition of investment and how it was financed. Thailand's crisis provides further evidence that financial liberalization must be carefully managed because, by increasing competition, it lowers the franchise value of existing financial institutions and creates incentives for unsound banking practices.Alba, Hernandez, and Klingebiel examine Thailand's macroeconomy and micro-economy for the period 1988-97 to assess the extent to which the country's mix of macroeconomic and financial sector policies contributed to its economic crisis in 1997.They conclude that the crisis was fundamentally one of private sector debt, rooted in private behavior that affected the magnitude and composition of investment and how it was financed.Unlike the Latin American debt crisis, the Thai crisis was not caused by excessive sovereign borrowing.Financial sector weaknesses - including inadequate regulation and supervision, implicit deposit insurance, concentrated ownership structures, and poor accounting and disclosure - combined with liberalization of the financial sector and capital accounts, increased vulnerability by creating incentives for risk-taking by financial institutions.Many macroeconomic fundamentals were strong, but the combination of tight monetary policy and an inflexible exchange rate created strong incentives for residents to expose themselves to excessive foreign exchange and liquidity risks.Weak corporate governance, including close corporate links to the banking sector, encouraged risky investments and overdiversification in the corporate sector.This paper - a joint product of the Economic Policy Division, Poverty Reduction and Economic Management Network, and the Financial Sector Strategy and Policy Department - is part of a collaborative effort with the Asian Development Bank to understand the management of private capital flows in Asia. The authors may be contacted at [email protected], [email protected], or [email protected].
Book Synopsis Financial Sector Crisis and Restructuring by : Carl-Johan Lindgren
Download or read book Financial Sector Crisis and Restructuring written by Carl-Johan Lindgren and published by . This book was released on 1999 with total page 103 pages. Available in PDF, EPUB and Kindle. Book excerpt: An IMF paper reviewing the policy responses of Indonesia, Korea and Thailand to the 1997 Asian crisis, comparing the actions of these three countries with those of Malaysia and the Philippines. Although all judgements are still tentative, important lessons can be learned from the experiences of the last two years.
Book Synopsis Financial System Stability, Regulation, and Financial Inclusion by : ADB Institute
Download or read book Financial System Stability, Regulation, and Financial Inclusion written by ADB Institute and published by Springer. This book was released on 2015-01-14 with total page 136 pages. Available in PDF, EPUB and Kindle. Book excerpt: Financial authorities face a number of key challenges, including maintaining financial stability; ensuring long-term finance for stable economic growth; promoting greater access to financial services for both households and small and medium-sized enterprises (SMEs); and fostering a competitive financial industry. Access to finance for SMEs is particularly important, given their large shares in economic activity and employment in Asian economies. Striking the appropriate balance in achieving these objectives through financial supervision and regulation is an important policy issue for financial regulators. This book is the record of a joint conference in 2014 organized by the Asian Development Bank Institute; Financial Services Agency, Japan; and International Monetary Fund Regional Office for Asia and the Pacific on the topic of financial system stability, regulation, and financial inclusion. Participants included noted scholars, policymakers, and financial industrial participants from Asia. ADB Institute The ADB Institute, located in Tokyo, is the think tank of the Asian Development Bank. Its mission is to identify effective development strategies and improve development management in ADB’s developing member countries. Financial Services Agency, Japan The Financial Services Agency, Japan is responsible for ensuring the stability of Japan’s financial system, the protection of depositors, insurance policyholders and securities investors, and smooth finance through such measures as planning and policymaking. International Monetary Fund Regional Office for Asia and the Pacific The International Monetary Fund Regional Office for Asia and the Pacific contributes to economic surveillance and research, leads the IMF’s involvement in regional cooperation, manages regional capacity building programs, and promotes the understanding and two-way dialogue of the IMF in the region.
Book Synopsis The Politics of Finance in Developing Countries by : Stephan Haggard
Download or read book The Politics of Finance in Developing Countries written by Stephan Haggard and published by Cornell University Press. This book was released on 2019-05-15 with total page 351 pages. Available in PDF, EPUB and Kindle. Book excerpt: Ten original essays examine the political and institutional factors that influence the initiation and efficiency of preferential credit policies in Korea, Taiwan, Thailand, Indonesia, the Philippines, Chile, Mexico, and Brazil.
