Financial Turmoil in the Banking Sector and the Asian Lamfalussy Process: The Case of Four Economies

This paper investigates the prevailing financial regulatory structures and impact of the current financial turmoil on banking performance in four economies: the People's Republic of China (PRC); Hong Kong China; Singapore; and Taipei,China. Both the PRC and Hong Kong, China operate under a fragmented financial regulatory structure, while Singapore and Taipei,China have integrated structures. We examine the role of an integrated financial regulatory structure in helping financial institutions mitigate the impact of the financial crisis, using financial indicators of banks' capital structure and operating performance in these four economies between 2003 and 2008. Our analysis of the indicators reveals that banking performance under a fragmented financial regulatory structure is not worse than under integrated regulation. This implies that financial regulatory structure is not the main reason why Asian financial institutions suffered only limited losses from the current global financial crisis. However, given the growing complexity of the global financial system, and the relative weakness of current financial regulatory structures in Asia, this paper suggests that East Asian governments should refer to the Lamfalussy Process in the European Union and set up an Asia Financial Stability Dialogue to facilitate policy coordination for regional financial sector stability and development.asian financial regulation; global financial crisis; asian banking; prc; asian financial institutions; asian financial sector

Distribution and Accumulation of Mercury in Sediments of Kaohsiung River Mouth, Taiwan

AbstractThis study was conducted using the data collected in May 2009 to investigate and analyze mercury (Hg) contained in the surface sediments, and to evaluate the accumulation of Hg and the degree of its potential risk. The results show that samples collected at all monitoring stations near the mouth of Kaohsiung River contain 0.15–1.15mg kg-1of Hg with average of 0.68±0.30mg kg-1. The spatial distribution of Hg reveals that the Hg concentration is relatively high in the river mouth region, and gradually diminishes toward the harbor region. This indicates that upstream industrial and municipal wastewater discharges along the river bank are major sources of pollution. The accumulation factor and potential ecological risk index indicate that the sedimentation at Kaohsiung River mouth has the most serious degree of Hg accumulation and the highest ecological potential risk. Therefore, a strategy for effective controlling and managing Kaohsiung River upstream pollution needs to be immediately implemented in order to improve the sediment quality and alleviate the ecological risk

Copper Contamination in the Sediments of Salt River Mouth, Taiwan

AbstractThis study was conducted using the data collected at the mouth of Salt River to investigate and analyze copper (Cu) contained in the sediments, and to evaluate the accumulation of Cu and the degree of its potential risk. The results show that samples collected at all monitoring stations near the mouth of Salt River contain 286–895mg/kg of Cu with average of 501±243mg/kg. The spatial distribution of Cu reveals that the Cu concentration is relatively high in the river mouth region, and gradually diminishes toward the harbor region. This indicates that upstream industrial and municipal wastewater discharges along the river bank are major sources of pollution. The accumulation factor and potential ecological risk index indicate that the sedimentation at Salt River mouth has the most serious degree of Cu accumulation and the highest ecological potential risk