00392550

open access

Version of Record

トウナン アジア ノ キンユウ ハッテン カイハツ キンユウ パラダイム ノ ヘンカ ト タヨウセイ

Financail Development in South East Asia : The Change and the Diversification of the Paradigm in Financial Development

Japanese (日本語)

国際協力論集

12(1)

57-84

神戸大学大学院国際協力研究科

2004-08

2007-06-07

The purpose of the papar is to discuss the features of the financial structure in the process of industrialization in the four South East Asian countries: Thailand， the Philippines， Indonesia and Malaysia， by using the comparative institutional analysis frame-work， as well as by observing the long-term macro financial data. Firstly ， we start by conceptual preparation besed on the “low-level equilibrium trap" in financial development， various implications from comparative institutional analysis as well as possible market failures in industrialization. Then， we follow the various historical facts on financial development in the four countries. And we summarize the common features among them， particularly in the comparison with those of Far East countries such as Korea and Taiwan. The features include relatively rich financial re-sources as endowment， weak government intervention， market-oriented financial system and the role of foreign capital. After that， we demonstrate our view that the financial structures in economic development process in South East Asian countries could be seen as another paradigm of financial development in contrast to that of Far East countries. We conclude by pointing out their weakness which should be conquered in the future.

紀要論文