Economics Project Abstract
ASIAN FINANCIAL STRUCTURES AND IMPLICATIONS FOR INTERNATIONAL TRADE AND CAPITAL MOVEMENT
Presenter:
Arthur Wojtowicz, Illinois Mathematics and Science Academy, 1500 West Sullivan Road, Aurora, IL 60506; chochmo@imsa.edu
Mentor:
Howard J. Polk, A.G. Edwards and Sons, Inc., 222 S. Riverside Plaza, Suite 720, Chicago, IL 60606
Abstract:
Because it comprises a significant share of the world economy, countless individuals and institutions have significant interests in the East Asian region. The business practices of East Asia are crucial to determining the future implications of austerity measures required by the International Monetary Fund and World Bank for foreign investment and capital movement globally. Consequently, the means by which financial structures and practices affect the flow of foreign investment capital into the region is of great importance. In the wake of the 1997-1998 Asian Financial Crisis issues of corporate transparency, government influence, and corporate practice have come to the forefront of economic policy and debate. International institutions, including the International Monetary Fund and the World Bank, have pressured East Asian economies to adapt Western protocol and business standards, but why? Projections for the futures of these economies are constructed by examining the reactions of Asian financial systems and economies to overhauls of many primary economic structures.