New Challenges in Asian Capital Markets

Dear Colleagues,

As a result of advances in information technology, deregulation, and globalization, Asian capital markets have been subject to dramatic changes over the past decades. In addition, Asian capital markets have gone through some crisis events. These events have stimulated consolidation among financial institutions as well as capital markets, as documented in a number of references in the literature. Although similar forces driving consolidation in mature markets are at work in the emerging markets as well, the effects or implications of the latter forces may be different.

According to the global economic outlook, the global economic growth in 2015–2016 is projected to be between 3.5%–3.7%, while the growth in Emerging and Developing Asia is expected to be between 6.4%–6.2% (January 2015). This may indicate that Asian economies will lead global economic growth by 2020. However, macroeconomic shocks can introduce external and balance sheet vulnerabilities in both Asian countries and capital markets.

Therefore, we would like to set the objectives of this Special Issue, which are: to reveal/address the underlying new issues or challenges in Asian capital markets and to propose potential solutions. We would like to call as many papers as possible to address these issues and provide potential solutions, so as to achieve sustainable growth.

Potential topics follow below. Similarly, any other related topics that raise issues concerning Asian capital markets and which propose potential solutions for the development/improvement of the Asian economy/capital markets will also be highly welcome.

• Capital markets, infrastructure, and investment
• Micro- and macro-prudential policies with respect to capital markets
• Capital markets and international financial stability
• Capital markets and risk analysis
• Cross-border capital flows
• Capital markets and the financing of new sources of energy
• Capital markets and economic growth
• Capital markets and trade integration
• Structural reforms in capital markets
• Capital market imperfections
• Capital markets and foreign exchange
• Currency unification (Asian Monetary Union)
• Capital markets and financial crises
• Case studies in certain Asian capital markets
• Capital markets and tax effective supply chain or base erosion and profit shifting
• Other related topics

M.Phil Katsuhiko Takagaki
Prof. Dr. Nicholas Apergis
Guest Editors

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• capital markets
• Asia
• integration
• financial institutions
• development
• financial crisis
• prudential policies
• investment
• imperfect
• currency union
• international tax regimes and capital markets