Banking and Finance Issues in Emerging Markets

William A. Barnett – is theOswald Distinguished Professor of Macroeconomics at the University of Kansas,Director of the Center for Financial Stability in New York City, President ofthe Society for Economic Measurement, and Editor of the Cambridge UniversityPress journal, Macroeconomic Dynamics.His book, Getting It Wrong: How FaultyMonetary Statistics Undermine the Fed, the Financial System, and the Economy,published by MIT Press, won the American Publishers Award for Professional andScholarly Excellence for the best book published in economics during 2012. WithNobel Laureate Paul Samuelson, he also coauthored the book, Inside the Economist’s Mind, translatedinto seven languages. Bruno S. Sergi – is a teacher and scholar whose area of researchinterest centers on the emerging markets. At Harvard University he is aninstructor on the economics of emerging markets and the political economy ofRussia and China, an Associate of the Davis Center for Russian and EurasianStudies, and a Faculty Affiliate in the Institute for Quantitative SocialScience. In addition, he teaches international economics at the University ofMessina, is an Associate Editor of TheAmerican Economist (an official publication of Omicron Delta Epsilon, TheInternational Honor Society in Economics), and a co-founder and ScientificDirector of the International Center for Emerging Markets in Moscow. He is theauthor and/or coauthor of several books and over 150 scholarly papers.

The book edited by William A. Barnett and Bruno S. Sergi is well embedded in international literature on banking and financial issues related to the realities of the emerging markets. The author uses multiple and diversified sources of information, including monographs, academic journals, publications and reports issues by central banks, other financial institutions, consultancies etc... the monograph under review is an interesting and valuable theoretical-empirical study, well rooted in the topical literature. I would highly recommend the book edited by William A. Barnett and Bruno S. Sergi to all scholars as well as managers and business people interested in banking and finance in emerging markets.

• Chapter 1. ASEAN-5 Economic and Exchange Rate Integration; Tatre Jantarakolica and Korbkul JantarakolicaChapter 2. The Macroeconomic Effects of RMB Internationalization: the Perspective of Overseas Circulation; Cong Wang and Xue WangChapter 3. Dynamic Connectedness in Emerging Asian Equity Markets; Pym Manopimoke, Suthawan Prukumpai and Yuthana SethapramoteChapter 4. Stock Market Contagion from a Spatial Perspective; William W. ChowChapter 5. Deposit Rate Asymmetry and Edgeworth Cycles after Hong Kong’s Interest Rate Deregulation; Michael K. Fung Chapter 6. India’s Bad Loan Conundrum: Recurrent Concern for Banking System Stability and the Way Forward; Soumya Bhadury and Bhanu PratapChapter 7. An International Perspective on the Loan Puzzle in Emerging Markets; Asli Leblebiciouglu and Victor Valcarcel Chapter 8. Is Japanese Regional Banks’ Overseas Business in Emerging Markets Hopeful? An Observation Through X-Means Clustering; Masaki Yamaguchi Chapter 9. A Paradigm Shift in Banking: Unfolding Asia’s FinTech Adventures; Agrata Gupta and Chun Xia Chapter 10. Acceptance of Financial Technology in Thailand: Case Study of Algorithm Trading; Korbkul Jantarakolica and Tatre Jantarakolica Chapter 11. Financial Innovation and Technology Firms: A Smart New World with Machines; Kevin Chen