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East Asian Financial and Monetary Cooperation and Its Prospect
Author: Young-Joon Park
Publisher:
Published: 2014
Total Pages: 58
ISBN-13:
DOWNLOAD EBOOK →This paper examines the ASEAN 3 cooperation of regional financial safety nets, and reviews the regional monetary issues of a single currency and currency competition in East Asia. We point out potential systemic risks in East Asia and the importance of regional surveillance. ASEAN 3 regional surveillance should move forward to the stronger measures of peer review and peer pressure, and make the AMRO a well-resourced professional surveillance secretariat to create capacity to apply independent conditionality. To this effective surveillance mechanism, we propose to establish the Board of Coordination to support the ASEAN 3 ERPD by confirming its decision or remitting the relevant case to the ASEAN 3 ERPD and providing possible legal consultation. The institution building of the CMIM secretariat will accelerate the establishment of a regional monetary institution, e.g. an Asian Monetary Fund. The current crisis provides sufficient incentives for East Asian economies to pursue internationalization of their currencies, and it would open the possibility towards a single currency in East Asia.
Monetary and Financial Cooperation in East Asia
Author: Masahiro Kawai
Publisher: Oxford University Press (UK)
Published: 2015
Total Pages: 255
ISBN-13: 0198714157
DOWNLOAD EBOOK →This edited volume evaluates the prospects for monetary and financial cooperation in East Asia after the crises in the developed countries (2008 in the US, 2010 in Europe).
Prospects for Monetary Cooperation and Integration in East Asia
Author: Ulrich Volz
Publisher: MIT Press
Published: 2010
Total Pages: 339
ISBN-13: 0262013991
DOWNLOAD EBOOK →East Asian countries were notably uninterested in regional monetary integration until the late 1990's, when the Asian financial crisis revealed the fragility of the region's exchange rate arrangements and highlighted the need for a stronger regional financial architecture. Since then, the countries of East Asia have begun taking steps to explore monetary and financial cooperation, establishing such initiatives as regular consultations among finance ministers and central bank governors and the pooling of foreign exchange reserves. In this book Ulrich Volz investigates the prospects for monetary cooperation and integration in East Asia, using state-of-the-art theoretical and empirical tools to analyze the most promising policy options. --
Prospects for Financial and Monetary Cooperation in East Asia
Author: Yun-jong Wang
Publisher: 대외경제정책연구원
Published: 2002
Total Pages: 56
ISBN-13:
DOWNLOAD EBOOK →Monetary Cooperation in East Asia
Author: Jai-Won Ryou
Publisher:
Published: 2017
Total Pages: 55
ISBN-13:
DOWNLOAD EBOOK →The Asian currency crisis in 1997 and the launch of the euro in 1999 made the possibility and desirability of introducing a regional currency union in East Asia a point of debate. At present, the empirical findings and policy implications of previous studies are mixed. We are still in need of theoretical and empirical studies that capture the salient features of East Asia, and give us reliable recommendations for incentive structures, configurations and policy instruments in monetary cooperation in its various stages.This paper aims to review major conceptual and empirical issues relevant to monetary cooperation in East Asia, including proposals for a regional cooperative framework for exchange rate stability or forming a currency union in the region. East Asian countries have no experience with any type of monetary cooperation and all we have are hypothetical predictions. Nevertheless, East Asian countries may be on the brink of an historical evolution to economic and monetary integration, as Europe was half a century ago.The progressive integration of markets in East Asia has conferred a commonality of economic interest upon the countries in the region. As the economic structures of East Asian countries converge with one another through closer ties of trade, investment and finance, the necessity for monetary cooperation will be more likely to emerge in the future. Monetary cooperation in East Asia will be a long process. East Asian countries should make efforts to build collective institutions in the beginning.
Fostering Monetary And Financial Cooperation In East Asia
Author: Barry Eichengreen
Publisher: World Scientific
Published: 2009-04-29
Total Pages: 190
ISBN-13: 9814468185
DOWNLOAD EBOOK →Since the Asian financial crisis of 1997-1998, there has been a deep and abiding desire on the part of Asian policy makers and opinion makers to enhance the region's economic, monetary and financial self-sufficiency — or at least to ring-fence the region against financial instability and give it a louder voice in global financial affairs. There has been progress in these directions, notably in the form of the Chiang Mai Initiative of financial supports and the Asian Bond Market Initiative to build a single Asian financial market. But progress is hindered by disagreements among the principal national governments — Japan, China and South Korea — and resistance to the development of an Asian bloc from both Europe and the United States.This volume considers these issues from a number of different national and analytical perspectives. Scholars from all the relevant regions and countries are represented: Japan, China, Korea, Europe and the United States. While there have been a few previous books and articles concerned with the issue of Asian integration, this is one of the first volumes to successfully draw together top contributors from these different countries and regions to address the issues in a rigorous but relatively accessible way.
Monetary and Financial Integration in East Asia
Author: Yung Chul Park
Publisher: Oxford University Press
Published: 2010-07
Total Pages: 190
ISBN-13: 0199587124
DOWNLOAD EBOOK →The book analyses the Asian experience from both Asian and European perspectives.
Asian Monetary Integration
Author: Woosik Moon
Publisher: Edward Elgar Publishing
Published: 2012
Total Pages: 241
ISBN-13: 1781009155
DOWNLOAD EBOOK →Numerous ideas for monetary and financial cooperation in East Asia have been proposed both within and outside the region since the financial crisis in Asia. Despite this strong level of interest, however, there are few studies that aim to comprehensively address the issue from multiple perspectives. This insightful book redresses the balance and illustrates how East Asian countries plan to take advantage of their rising economic power in rearranging the new international monetary and financial order in the post-crisis era. The expert contributors examine the history, conditions and current efforts towards monetary integration in Asia and explore possible future paths, highlighting the roles and perspectives of East Asian countries in the integration process. They consider how East Asian economies could establish their own zone of monetary stability, and show that monetary stability cannot be separately addressed from the issues of economic growth and solidarity. Without economic growth and solidarity, there would be no purpose in pursuing monetary integration, therefore all three challenges must be simultaneously addressed. Against this backdrop, the book tackles the issues of East Asian monetary integration underpinned by the broad framework of economic growth and solidarity. Scholars of economics, monetary integration, Asian studies and regionalism will find this book to be an illuminating and thought-provoking read.
East Asian Financial Cooperation
Author: C. Randall Henning
Publisher: Peterson Institute for International Economics
Published: 2002
Total Pages: 156
ISBN-13:
DOWNLOAD EBOOK →This study examines the case for and against regional financial arrangements in East Asia, describes the Chiang Mai Initiative, compares it to financial arrangements in other regions. It speaks specifically to the concerns of American, European and multilateral organizations, assessing the pros and cons for the global system of such regional financial arrangements.
