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Author : Yŏng-chʻŏl Pak
Publisher : Unknown
Page : 0 pages
File Size : 55,8 Mb
Release : 2006
Category : Capital movement
ISBN : 8932220689
Author : Ulrich Volz
Publisher : MIT Press
Page : 339 pages
File Size : 50,9 Mb
Release : 2010
Category : East Asia
ISBN : 9780262013994
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. --
Author : Koichi Hamada,Beate Reszat,Ulrich Volz
Publisher : Edward Elgar Publishing
Page : 423 pages
File Size : 43,9 Mb
Release : 2009-01-01
Category : Business & Economics
ISBN : 9781848447349
Towards Monetary and Financial Integration in East Asia is an important book. East Asia, led by China, has been and will continue to be the largest, most rapidly growing region in the world. Major global imbalances persist, with East Asia in large surplus. Yet East Asian financial and monetary integration is only in the early stages of what will necessarily be a long-run process. These 14 essays by different authors address, in six Parts, fundamental long-run issues and prospects. These include the development of a regional financial architecture, liquidity provision and crisis management, surveillance mechanisms, exchange rate arrangements, currency baskets, an Asian Currency Unit, and ultimately even a single currency. The implications of the rise of China and the role of Japan underlie much of these analyses. However imperfect, the EU is the dominant relevant experience for East Asian financial and monetary integration. It is important to understand, as the authors do, that it took 47 years from the EU s nascent founding to the establishment of the euro, and that economic integration has preceded political integration. This book importantly addresses such basic issues in this time frame and with an appreciation of the political economy difficulties of financial integration. Hugh Patrick, Columbia University, US The book edited by Professors Hamada, Reszat, and Volz gives a comprehensive overview of the current status and challenges of economic integration in East Asia. Monetary and financial integration in East Asia has proceeded gradually but steadily since the Asian financial crisis of 1997 98. The book is an authoritative cutting-edge collection of papers in respective topics which brings the reader to the frontier of the literature. Takatoshi Ito, University of Tokyo, Japan This indispensable book provides a comprehensive analysis of monetary and financial integration in East Asia. It assesses the steps already taken toward financial integration and brings forward different proposals for future exchange rate arrangements in what has now become the world s most dynamic region. With contributions from distinguished experts this timely book evaluates the economic and politico-economic arguments and conditions for monetary and financial integration in East Asia. It explores how and to what extent the countries of the region can integrate despite their heterogeneity and their underlying political tensions. Drawing on the European experiences, this book analyzes the economic logic of monetary and financial integration in East Asia and its political feasibility. This invaluable broad analysis will be of interest to academic researchers, students, policy-makers and professional economists working on matters of international economic cooperation, common currency areas, international open economy macroeconomics, and East Asian integration.
Author : Yung Chul Park,Charles Wyplosz
Publisher : Oxford University Press
Page : 190 pages
File Size : 48,7 Mb
Release : 2010-07
Category : Business & Economics
ISBN : 9780199587124
The book analyses the Asian experience from both Asian and European perspectives.
Author : Yun-jong Wang
Publisher : 대외경제정책연구원
Page : 56 pages
File Size : 55,9 Mb
Release : 2002
Category : Asian cooperation
ISBN : UCSD:31822031352206
Author : Peter B. Kenen,Ellen E. Meade
Publisher : Cambridge University Press
Page : 199 pages
File Size : 53,7 Mb
Release : 2007-11-26
Category : Business & Economics
ISBN : 9781139466035
This book surveys the prospects for regional monetary integration in various parts of the world. Beginning with a brief review of the theory of optimal currency areas, it goes on to examine the structure and functioning of the European Monetary Union, then turns to the prospects for monetary integration elsewhere in the world - North America, South America, and East Asia. Such cooperation may take the form of full-fledged monetary unions or looser forms of monetary cooperation. The book emphasizes the economic and institutional requirements for successful monetary integration, including the need for a single central bank in the case of a full-fledged monetary union, and the corresponding need for multinational institutions to safeguard its independence and assure its accountability. The book concludes with a chapter on the implications of monetary integration for the United States and the US dollar.
Author : Masahiro Kawai,Yung Chul Park,Charles Wyplosz
Publisher : Oxford University Press, USA
Page : 255 pages
File Size : 55,7 Mb
Release : 2015
Category : Business & Economics
ISBN : 9780198714156
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)
Author : Woosik Moon,Yeongseop Rhee
Publisher : Edward Elgar Publishing
Page : 241 pages
File Size : 55,8 Mb
Release : 2012
Category : Business & Economics
ISBN : 9781781009154
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.
Author : Haruhiko Kuroda,Masahiro Kawai
Publisher : Unknown
Page : 52 pages
File Size : 54,8 Mb
Release : 2002
Category : Asian cooperation
ISBN : STANFORD:36105113014000
"This paper argues that a regional financial architecture needs to be firmly established in East Asia, outlines recent developments in financial cooperation in the region, and provides possible directions for the future". -- p. 1.
Author : Anonim
Publisher : Unknown
Page : 128 pages
File Size : 43,6 Mb
Release : 2024-06-28
Category : Electronic
ISBN : 9789814468183
Author : Peter B. Kenen
Publisher : Unknown
Page : 230 pages
File Size : 55,8 Mb
Release : 2008
Category : Currency question
ISBN : 1107178061
This book surveys the prospects for regional monetary integration in various parts of the world. Beginning with a brief review of the theory of optimal currency areas, it goes on to examine the structure and functioning of the European Monetary Union, then turns to the prospects for monetary integration elsewhere in the world - North America, South America, and East Asia. Such cooperation may take the form of full-fledged monetary unions or looser forms of monetary cooperation. The book emphasizes the economic and institutional requirements for successful monetary integration, including the need for a single central bank in the case of a full-fledged monetary union, and the corresponding need for multinational institutions to safeguard its independence and assure its accountability. The book concludes with a chapter on the implications of monetary integration for the United States and the US dollar.
Author : Asian Development Bank
Publisher : Unknown
Page : 424 pages
File Size : 54,8 Mb
Release : 2005
Category : Asia
ISBN : UCSD:31822034275818
Comprised of papers presented at a 2004 conference on Asian integration, this collection of expert views evaluates the current state of economic cooperation in Asia and explores the benefits and challenges of increased integration across the region. With an eye towards globalization and the modern geopolitical landscape, the essays reflect a growing awareness of the interdependence of countries in the region and discuss possible steps to continue the enhancement of intra-Asian relationships more expansively than ever before.
Author : Michael Devereux,Research Fellow at the Institute for Fiscal Studies London Professor of Finance Department of Economics Michael Devereux,Philip R Lane,Cyn-Young Park,Shang-Jin Wei
Publisher : Taylor & Francis
Page : 342 pages
File Size : 42,8 Mb
Release : 2011-05-03
Category : Business & Economics
ISBN : 9781136847622
The ongoing global financial crisis has manifested a remarkable degree of global financial integration—and its implications—for emerging Asian financial markets. The current crisis will not and should not deter the progress that the region has made toward financial openness and integration. However, events like this clearly demonstrate that financial liberalization and integration is not without risks. Hence, emerging Asian economies' growing financial ties have motivated us to look closer at the repercussions of increased financial integration and evaluate the benefits of risk sharing and better access to international capital markets against the costs of cross-border financial contagion. The crisis also presents a timely opportunity for the region’s policy makers to rethink their strategies for financial deregulation and liberalization and to reconsider a next step to integrate emerging East Asia’s financial markets further. However, doing so requires deeper understanding of financial market integration. While much has been said in both academic and policy circles about financial globalization and regional financial integration as separate areas of study, existing research has been relatively silent on the dynamics between these two distinctive forces. The book addresses this gap in financial literature and assesses financial integration in emerging East Asia at both regional and global levels. The publication studies the factors driving the progress of regional financial integration in relation to financial globalization and identifies the relevant policy challenges facing emerging market economies in the region. Chapters look into three broad aspects of regional and global financial market integration: (i) measurement of regional and global financial integration, (ii) understanding dynamics of regional financial integration versus global financial integration, and (iii) welfare implications from regional financial market integration amid financial globalization. Against this context, academics, policy makers, and other readers will appreciate the rigorous research contribution provided by the book.
Author : Kyŏng-t'ae Yi
Publisher : KIEP
Page : 68 pages
File Size : 40,8 Mb
Release : 2007
Category : East Asia
ISBN : STANFORD:36105123916905
Author : Deeparghya Mukherjee
Publisher : Routledge
Page : 204 pages
File Size : 42,8 Mb
Release : 2019-01-14
Category : Business & Economics
ISBN : 9781351061339
The Regional Comprehensive Economic Partnership (RCEP) aims to achieve greater integration between the ASEAN region and its six free trade agreement (FTA) partners (India, China, Japan, Australia, New Zealand and Korea). The RCEP is the only agreement to include three economies which are among the seven biggest economies of the world—China, Japan and India. The book opens with an introduction to the current status of economic integration and factors that would affect it and looks at key issues like non-tariff barriers, evolving investment regulations in China (in the context of FTAs), connectivity initiatives to integrate the region, rules of origin in the context of value chain integration in selected sectors as well as region-specific aspects of South Asia and South East Asia which would shape the regional economic architecture going forward. With an attempt to cover key imperatives, the book concludes by noting primary impediments to easier trade and investment flows in the region, highlighting possible policy recommendations to improve economic integration.
