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Getting Finance in South Asia 2010

Author

Listed:
  • Kiatchai Sophastienphong
  • Anoma Kulathunga

Abstract

The recent global financial meltdown was a revelation in one sense. Before the crisis there had been a belief that banks could never fail, a belief that encouraged overleveraging and excessive risk taking. The complexity of financial instruments, opaqueness of transactions, and sophistication of modeling techniques used by developed country financial institutions all combined to conceal the hollowness of their success. Many financial institutions largely ignored regulatory requirements or preempted them through the use of complex instruments and methods, while risk taking caused profits to rocket to unimaginable levels. Regulatory arbitrage became rampant in this environment. While financial institutions were in a mode of overexpansion, regulators visibly failed to enforce regulations, and the financial institutions took advantage of the regulatory anarchy. All this was an eye-opener for regulators in South Asia, as regulatory lapses and lack of enforcement can lead to potential instability in financial systems. The report evaluates key prudential guidelines issued by the regulatory authority of each country to assess the comparability of data as well as to shed light on the country's level of regulatory development. It also expands the group of benchmark economies to allow comparison with diverse economies in Asia as well as the Western hemisphere. And it includes a special write-up on how South Asian countries and commercial banking sectors are managing the impact of the global financial crisis and economic slowdown.

Suggested Citation

  • Kiatchai Sophastienphong & Anoma Kulathunga, 2010. "Getting Finance in South Asia 2010," World Bank Publications - Books, The World Bank Group, number 2498.
  • Handle: RePEc:wbk:wbpubs:2498
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    File URL: https://openknowledge.worldbank.org/bitstream/handle/10986/2498/562940PUB0Gett1August0201011PUBLIC1.pdf?sequence=1
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    Cited by:

    1. Nasreen, Samia & Anwar, Sofia & Ozturk, Ilhan, 2017. "Financial stability, energy consumption and environmental quality: Evidence from South Asian economies," Renewable and Sustainable Energy Reviews, Elsevier, vol. 67(C), pages 1105-1122.
    2. Marianne, Ojo, 2015. "Long term funding and regulation: facilitating financial stability and development (low income developing countries)," MPRA Paper 63406, University Library of Munich, Germany.
    3. GAMAGE Pandula, 2015. "Bank Finance For Small And Medium-Sized Enterprises In Sri Lanka: Issues And Policy Reforms," Studies in Business and Economics, Lucian Blaga University of Sibiu, Faculty of Economic Sciences, vol. 10(2), pages 32-43, August.
    4. Anwar Hossain Repon & K.M Zahidul Islam, 2016. "Competition and Concentration in Bangladeshi Banking Sector: An Application of Panzar-Rosse Model," International Journal of Finance & Banking Studies, Center for the Strategic Studies in Business and Finance, vol. 5(1), pages 14-29, January.

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