'Capital Market Refom in Asia' contains a selection of papers that capture the essence of capital market reform in the Asian region, including important lessons from the global financial crisis of 2007-2009

This paper studies fiscal deficits, consumption-saving behavior, current account imbalances, and exchange rates in a small open economy populated by households with finite lives. Suppose the government undertakes a bond-financed tax cut today. The authors find that if tax finance is anticipated...