Alternatives of Cross-Border Securities Settlement System in East Asia
| العنوان: | Alternatives of Cross-Border Securities Settlement System in East Asia |
|---|---|
| المؤلفون: | Chai Hee-Yul, Rhee Yeongseop |
| المصدر: | East Asian Economic Review, Vol 9, Iss 2, Pp 49-82 (2005) |
| بيانات النشر: | Korean Institute for International Economic Policy, 2005. |
| سنة النشر: | 2005 |
| مصطلحات موضوعية: | Economic efficiency, lcsh:HB71-74, Large array, lcsh:Economics as a science, Decentralised system, Multi-currency DVP Securities Settlement, Market economy, Capital Market Integration in East Asia, Decentralized System, Settlement (finance), East Asia, Cross-border Securities Settlement, Business, Economic system, Element (criminal law), Capital market, Centralized System |
| الوصف: | The establishment of cross-border securities settlement system is a very important element of regional capital market integration. Despite its importance, relatively few arguments, both theoretical and practical, have been advanced on the subject. This paper aims to examine the alternatives of cross-border securities settlement system in East Asia, and analyse the feasibility and the advantages and disadvantages of each alternative. The paper underlines the need to develop a multi-currency DVP securities settlement system. The conceivable alternatives of East Asia's cross-border securities settlement system can be divided into decentralized system and centralized system. It is possible to consider a large array of institutional settings according to the depository/settlement methods. The comparison of the alternatives is based on economic efficiency, feasibility and institutional location of settlement system. In view of these criteria, it is argued that a 'big-bang' approach toward imperfectly cenralized system is the most desirable alternative. |
| تدمد: | 2508-1667 2508-1640 |
| DOI: | 10.11644/kiep.jeai.2005.9.2.144 |
| URL الوصول: | https://explore.openaire.eu/search/publication?articleId=doi_dedup___::1260690b3e8df0608f9a050076fd98a5 https://doi.org/10.11644/kiep.jeai.2005.9.2.144 |
| Rights: | OPEN |
| رقم الانضمام: | edsair.doi.dedup.....1260690b3e8df0608f9a050076fd98a5 |
| قاعدة البيانات: | OpenAIRE |
| تدمد: | 25081667 25081640 |
|---|---|
| DOI: | 10.11644/kiep.jeai.2005.9.2.144 |