Thursday, February 26, 2009

Crisis almost in all level

On 12 February 2009 Mr Shankar Acharya wrote a article in the Business Standard saying “In the field of financial economics I can think of no other Asian who combines serious policy experience with academic rigour so effectively”. Yes he praised Andrew Sheng who delivered Third K B Lall Memorial Lecture on “From Asian to Global Financial Crisis” at ICRIER in Delhi recently. 

The lecture has almost all usual citing and verbatim etc. at least   what was interesting to me was his concluding part as Sheng writes “The three key functions of financial sector are to protect property rights, reduce transaction costs and have high transparency. These are Western concepts that were not understood well within the Asian experience”.

see other post here

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