Regional financial integration in Asia: present and future

The first workshop of Asian Research Network on Financial Markets and Institutions, organised by the Hong Kong Institute for Monetary Research and the Bank for International Settlements, Hong Kong SAR, 21 January 2008.

The BIS Asian Office and the Hong Kong Institute for Monetary Research jointly organised the first annual workshop of the Asian Research Network on Financial Markets and Institutions in Hong Kong SAR on 21 January 2008. More than 30 participants took part in the workshop, including senior research officers and economists from Asia-Pacific central banks and supervisory authorities as well as an academic and a market participant. The theme of the workshop was "Regional financial integration in Asia: present and future". Eight papers were presented around the following four topics: (1) Asian financial integration - how far and why?; (2) financial liberalisation and cooperation in Asia; (3) aspects of economic and financial integration; and (4) India's integration in the global financial system. This volume makes available revised versions of all papers presented during the workshop.

The papers presented at the conference were published as BIS Papers No 42 in October 2008.

Conference programme
List of participants
Assessing the integration of Asia's equity and bond markets
Laurence Kang-por Fung, Chi-sang Tam and Ip-wing yu
Why is there so little regional financial integration in Asia?
Alicia Garcia-Herrero, Doo-young Yang and Philip Wooldridge
Dissecting regional integration in financial services from the competition policy
Masamichi Kono and Mamiko Yokoi-Arai
Regional financial cooperation in Asia: challenges and path to development
Jee-young Jung
Measuring economic integration: the case of Asian economies
Yin-Wong Cheung, Matthew S Yiu and Kenneth K Chow
Volatility and persistence of capital flows
Chris Becker and Clare Noone
India's financial openness and integration with Southeast Asian countries: an analytical perspective
Chandan Sinha and Narayan Chandra Pradhan
Integration of India's stock market with global and major regional markets
Janak Raj and Sarat Dhal