Aspects of Regional Financial Stability: A Policy Approach

37 Pages Posted: 5 Nov 2014 Last revised: 7 Nov 2014

See all articles by Robert F. Engle

Robert F. Engle

New York University - Leonard N. Stern School of Business - Department of Economics; New York University (NYU) - Department of Finance; National Bureau of Economic Research (NBER)

Fariborz Moshirian

Institute of Global Finance, UNSW Business School

Bohui Zhang

The Chinese University of Hong Kong, Shenzhen

Date Written: October 31, 2014

Abstract

The sovereign debt crisis in Europe and the withdrawal of funds from the Asian markets (similar to capital outflows from Asia after the collapse of the Lehman Brothers) have highlighted the importance of more resilient regional and national financial systems in Asia. Regional architectures such as ASEAN, ASEAN plus six and the East Asia Summit are part of the process that may contribute to the emergence of a more resilient financial system in Asia. This paper analyses some of the financial issues that could contribute to the development of a more resilient global financial system and contribute to regional financial stability.

Keywords: Gobal Financial Stability, Regional Financial Stability and Systemic Risk

JEL Classification: G12, G15, G2, G29

Suggested Citation

Engle, Robert F. and Moshirian, Fariborz and Zhang, Bohui, Aspects of Regional Financial Stability: A Policy Approach (October 31, 2014). CIFR Paper No. 046/2014. Available at SSRN: https://ssrn.com/abstract=2518703 or http://dx.doi.org/10.2139/ssrn.2518703

Robert F. Engle

New York University - Leonard N. Stern School of Business - Department of Economics ( email )

269 Mercer Street
New York, NY 10003
United States

New York University (NYU) - Department of Finance

Stern School of Business
44 West 4th Street
New York, NY 10012-1126
United States

National Bureau of Economic Research (NBER)

1050 Massachusetts Avenue
Cambridge, MA 02138
United States

Fariborz Moshirian (Contact Author)

Institute of Global Finance, UNSW Business School ( email )

Sydney, NSW 2052
Australia
+61 2 93855859 (Phone)
+61 2 94877519 (Fax)

Bohui Zhang

The Chinese University of Hong Kong, Shenzhen ( email )

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