Creating wealth in post currency crisis Asia : opportunities for financial services in Singapore
Thesis (M.B.A.)--Massachusetts Institute of Technology, Sloan School of Management, 2000.
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| Format: | Thesis |
| Language: | eng |
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Massachusetts Institute of Technology
2005
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| Online Access: | http://hdl.handle.net/1721.1/9190 |
| _version_ | 1826200970829234176 |
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| author | Wong, Ann Chai, 1967- |
| author2 | Lester C. Thurow. |
| author_facet | Lester C. Thurow. Wong, Ann Chai, 1967- |
| author_sort | Wong, Ann Chai, 1967- |
| collection | MIT |
| description | Thesis (M.B.A.)--Massachusetts Institute of Technology, Sloan School of Management, 2000. |
| first_indexed | 2024-09-23T11:44:35Z |
| format | Thesis |
| id | mit-1721.1/9190 |
| institution | Massachusetts Institute of Technology |
| language | eng |
| last_indexed | 2024-09-23T11:44:35Z |
| publishDate | 2005 |
| publisher | Massachusetts Institute of Technology |
| record_format | dspace |
| spelling | mit-1721.1/91902019-04-11T01:17:42Z Creating wealth in post currency crisis Asia : opportunities for financial services in Singapore Wong, Ann Chai, 1967- Lester C. Thurow. Sloan School of Management. Sloan School of Management. Sloan School of Management. Thesis (M.B.A.)--Massachusetts Institute of Technology, Sloan School of Management, 2000. Also available online on DSpace at MIT. Includes bibliographical references (leaves 139-141). The Asian currency crisis revealed the structural weaknesses of the banking systems in Asia, following the devaluation of Thai Baht on 2 July 1997. With freedom of movement of capital, economies in Thailand, Indonesia and Korea were affected adversely by the liquidity squeeze when capital flowed out. Banks had to raise interest rates and nonperforming loans (NPLs) mounted, leading to severe stresses on banking systems. Post crisis, there were signs of limited recovery of the region in sight, but the region-wide reforms would take some time to complete. In the interim, Singapore could use the crisis to position the entire financial sector has to better respond to future challenges. The thesis would analyse the causes of the crisis as starting point to derive the directions the financial sector should take. Preserving the stability of the banking sector whilst engendering a more efficient use of capital remains a central issue in this thesis. The crisis has shown that an over-reliance on the debt capital model could lead to a systemic weakness in the economy, and this motivated the need to develop the financial market to ensure diversification. The thesis then evaluates the liberalisation measures adopted by the regulatory body (Monetary Authority of Singapore) in its bid to enhance the financial sector, and identifies some of the main opportunities and challenges ahead. Beyond leveraging on Singapore's time-tested regulatory, accounting and legal systems, financial institutions will need to take into account the impact of technology and financial innovation. Globalisation, electronic and online trading are potentially going to disrupt the traditional models of banking and exchanges. Consequently, both the banking and financial market industries need to respond to this new challenge, and the traditional advantages of geography were being eroded. To remain as a vibrant international financial market, banks and exchanges have to upgrade, creating new and more sophisticated value-added products and services through specialisation. by Ann Chai Wong. M.B.A. 2005-08-22T23:24:21Z 2005-08-22T23:24:21Z 2000 2000 Thesis http://hdl.handle.net/1721.1/9190 45459447 eng M.I.T. theses are protected by copyright. They may be viewed from this source for any purpose, but reproduction or distribution in any format is prohibited without written permission. See provided URL for inquiries about permission. http://dspace.mit.edu/handle/1721.1/7582 141 leaves 12816046 bytes 12815805 bytes application/pdf application/pdf application/pdf Massachusetts Institute of Technology |
| spellingShingle | Sloan School of Management. Wong, Ann Chai, 1967- Creating wealth in post currency crisis Asia : opportunities for financial services in Singapore |
| title | Creating wealth in post currency crisis Asia : opportunities for financial services in Singapore |
| title_full | Creating wealth in post currency crisis Asia : opportunities for financial services in Singapore |
| title_fullStr | Creating wealth in post currency crisis Asia : opportunities for financial services in Singapore |
| title_full_unstemmed | Creating wealth in post currency crisis Asia : opportunities for financial services in Singapore |
| title_short | Creating wealth in post currency crisis Asia : opportunities for financial services in Singapore |
| title_sort | creating wealth in post currency crisis asia opportunities for financial services in singapore |
| topic | Sloan School of Management. |
| url | http://hdl.handle.net/1721.1/9190 |
| work_keys_str_mv | AT wongannchai1967 creatingwealthinpostcurrencycrisisasiaopportunitiesforfinancialservicesinsingapore |