Law and Policy in International Business

Articles from Vol. 28, No. 3, Spring

Achieving a Balance between Trade and the Environment: The Need to Amend the WTO/GATT to Include Multilateral Environmental Agreements
With the completion of the Uruguay Round of the General Agreement on Tariffs and Trade (GATT) in December 1993, trade barriers were lowered around the world and the formal World Trade Organization (WTO) was established.(1) The Uruguay Round also...
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China's Financial Reforms in the Global Market
I. Introduction As explicitly recognized in the Ninth Five-Year Plan(1) promulgated in early 1996, China's economic growth is approaching a crossroads. China's extremely high savings rate has made possible high investment levels, and capital...
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Comments: China
The securities market in China emerged in the middle of the 1980s as an economic reform "experiment." Although the legitimacy of this experiment was ideologically controversial, there was no disagreement that this reform was supposed to strengthen...
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Comments: Japan
I would like to talk about the Japanese financial system and the ways in which Japanese society and Japanese government policy-making are changing that system. One characteristic of the Japanese economy is its very high savings ratio. Our savings...
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Comments: Korea
Good afternoon. Because of time constraints, I am going to describe quickly the historical background of Korea's financial system and then discuss the recent internationalization of the securities market. Finally, I will mention the issues that...
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Comments: Malaysia
First of all, I will briefly describe the trends of capital market development in Malaysia, and then discuss a little bit of what is happening in Asia, more specifically the ASEAN subregion and the trends there, whether towards diversity or convergence....
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Financial Reform and Economic Development in Vietnam
"Our President slogan must be capital, capital and more capital." -- Do Muoi, Vietnam Communist Party Secretary General(1) To presume that one could begin to discuss the progress of financial reforms in Vietnam along with other Asian countries...
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Internationalizing U.S. Capital Markets in Global Context: Problems and Prospects
I. Introduction The capital markets of the United States play a central role in global corporate finance, but perhaps not primarily as a source of equity capital via the stock markets. The main importance of U.S. capital markets results from...
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Keynote Address
I am delighted to be here this afternoon to speak to you about strengthening financial systems in Asia. You have been discussing various aspects of this issue for the last several days, and, I ask myself, how can I come in at this stage of a conference...
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Law and Political Economy of Capital Market Regulation in the Republic of China on Taiwan
I. Introduction The Republic of China on Taiwan (ROC) has come a long way from its days of being just a manufacturing-based, labor-intensive economy focusing blindly on export promotion.(1) Compared to Taiwan's approach in the post-World...
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Legislative Control of Hong Kong Financial Markets: Some Aspects of Banking and Securities Regulations
I. Introduction This paper addresses the regulatory framework of banking and finance on the eve of the resumption of exercise of sovereignty over Hong Kong by the People's Republic of China. A discussion of historical, economic, and sociological...
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Liberalization of Financial and Capital Markets - Singapore Is Almost There!
I. Introduction This paper provides an overview of financial and capital markets and institutions in Singapore. A major financial center in Asia, Singapore has well developed institutions, instruments, and policies and a very open economy...
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The Australian Financial System: Evolution, Regulation, and Globalization
I. Introduction The ten year period from the mid-1980s to the mid-1990s has been one of unusually rapid change in the Australian financial system. Financial system structures alter continually in response to financial innovations and to changes...
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The World Telecommunications Policy Forum: Globalization, Liberalization, and Privatization in the Provision of Satellite Services
The phenomenal growth in satellite technology will soon allow a town doctor in a remote village to communicate via a portable phone with a hospital in the United States, and a company to reach its traveling employees regardless of where in the...
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