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- W655306102 abstract "BOOK REVIEW TAIWAN'S FINANCIAL MARKETS AND INSTITUTIONS: THE LEGAL AND FINANCIAL ISSUES OF DEREGULATION AND INTERNATION- ALIZATION by Brian Wallace Semkow. Published by Quorum Books, 1992. Michael S. Bennett The Republic of China ( Taiwan ) is one of the foremost economic success stories of the past thirty years. Numerous sta- tistics attest to Taiwan's remarkable economic development. As a newly industrialized country, its Gross National Product ( GNP ) is now roughly the twentieth largest in the world. Tai- wan's per capita income has grown from only US$196 in 1952 to over US$8,000 today. Its foreign exchange reserves, valued at over US$90 billion and rising, are the largest in the world. In short, Taiwan has emerged as one of the powerhouse economies of the Pacific Rim. Following a trail first blazed in Asia by Japan, Taiwan's eco- nomic growth was based primarily on export-oriented manufac- turing. Over the past thirty years, products manufactured in Taiwan, ranging from T-shirts to electronics, have carved out a significant share of global markets. The development of Taiwan's financial system, however, did not keep pace with the island's industrial development. Until quite recently, Taiwan's financial markets were overregulated and virtually closed to foreign participation. Bruce Wallace Semkow's book, Taiwan's Financial Markets and Institutions, focuses on the recent efforts of the Taiwanese government to deregulate, liberalize, and internationalize the is- land's financial markets. In particular, Mr. Semkow examines legislation passed by Taiwan's Legislative Yuan in the late 1980s and early 1990s that was intended to create a more modem finan- cial system in Taiwan, including significant amendments to the Banking Law, the Securities Exchange Law, the Insurance Law, and the statute governing foreign exchange. Mr. Semkow is a New York and California attorney who, in addition to having worked at the international law firm of Jones, t Associate, Simpson Thacher & Bartlett, Tokyo, Japan." @default.
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- W655306102 date "1995-01-01" @default.
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- W655306102 title "by Brian Wallace Semkow" @default.
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