Financial Liberalization and Prudential Regulation in East Asia : Still Perverse ?

This Working Paper series presents papers in a preliminary form and serves to stimulate comment and discussion. The views expressed are entirely the author's own and not that of the Institute of Defence and Strategic Studies. The Institute of Defence and Strategic Studies (IDSS) was established in July 1996 as an autonomous research institute within the Nanyang Technological University. Its objectives are to: • Conduct research on security, strategic and international issues. • Provide general and graduate education in strategic studies, international relations, defence management and defence technology. • Promote joint and exchange programmes with similar regional and international institutions; organise seminars/conferences on topics salient to the strategic and policy communities of the Asia-Pacific. Research Through its Working Paper Series, IDSS Commentary and other publications, the Institute seeks to share its research findings with the strategic studies and defence policy communities. The Institute's researchers are also encouraged to publish their writings in refereed journals. The focus of research is on issues relating to the security and stability of the Asia-Pacific region and their implications for Singapore and other countries in the region. The Institute has also established the S. Rajaratnam Professorship in Strategic Studies (named after Singapore's first Foreign Minister), to bring distinguished scholars to participate in the work of the Institute. Previous holders of the Chair include Professors Teaching The Institute provides educational opportunities at an advanced level to professionals from both the private and public sectors in Singapore and overseas through the Master of Science in Strategic Studies and Master of Science in International Relations programmes. These are full-time courses conducted by an international faculty from July-June each year. In 2002, the Institute inaugurated a PhD programme in Strategic Studies/International Relations. In addition to the graduate programmes, the Institute also conducts courses on geopolitics and regional security issues for the SAFTI Military Institute (Officer Cadet School, Advanced Officers' School and the Singapore Command & Staff College), the SAF Warrant Officers' School, as well as the Defence and Foreign Ministries. The Institute also runs a one-semester course on 'The International Relations of the Asia Pacific' for undergraduates in NTU. Networking The Institute convenes workshops, seminars and colloquia on aspects of international relations and security development which are of contemporary and historical significance. Highlights of the Institute's activities include a regular Colloquium on Strategic Trends in the 21 st Century, the annual Asia Pacific Programme for Senior Military Officers and …