|
|
Procyclicality of financial systems in Asia.(Book review)
- Article from:
-
Pacific Affairs
- Article date:
-
March 22, 2008
- Author:
- Wade, Robert
|
Copyright informationCOPYRIGHT 2008 University of British Columbia. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
PROCYCLICALITY OF FINANCIAL SYSTEMS IN ASIA. Edited by Stefan Gerlach and Paul Gruenwald. Basingstock (UK), New York: Palgrave Macmillan, 2006. xiv, 182 pp. (Tables, figures.) US$90.00, cloth. ISBN 978-1-4039-8751-8.
The title is clunky, but the content of this book could scarcely be more timely. Its four chapters deal with procyclicality and volatility in financial systems in general and in particular reference to Asia. Aside from the Asia component, the book provides useful background to what we have been reading in the newspapers for the past eight months as the first-world debt crisis unfolds. We are now (mid-March 2008) at the stage of procyclicality known as "horror ...