ABSTRACT
The Asia Pacific Region includes a number of national economies which have, over the past few years, experienced, and are still experiencing very high rates of economic growth. Concomitant with this economic development, there has not only been a substantial inflow of foreign capital in search of lucrative investment opportunities, but also many governments in the region have taken a series of measures to deregulate their financial sectors during the 1980s. As a result, the financial markets in these countries have expanded rapidly, in terms of the range and variety of financial instruments, the volume of financial transactions, and the efficiency of the financial systems.
