Strengthening Regional Financial Cooperation In East Asia

Author by : Haruhiko Kuroda
Languange : en
Publisher by : Unknown
Format Available : PDF, ePub, Mobi
Total Read : 63
Total Download : 871
File Size : 49,9 Mb
GET BOOK

Description : "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.


Financial Integration And Cooperation In East Asia

Author by : Hong Bum Jang
Languange : en
Publisher by : Unknown
Format Available : PDF, ePub, Mobi
Total Read : 94
Total Download : 867
File Size : 49,8 Mb
GET BOOK

Description : This paper examines the current situation pertaining to trade and financial integration in East Asia from various approaches and discusses potential linkages between intra-regional trade and financial integration. This paper also offers policy suggestions based upon its analyses that take full account of the post-global crisis policy landscape. The main conclusions drawn from this study are as follows: (i) the overall degree of intra-regional trade and financial integrations in East Asia still remain insufficient, as the region's financial integration lags far behind its trade integration; (ii) inter-regional links appear stronger than intra-regional links in East Asian economies; and (iii) intra-regional trade and portfolio investment flows in East Asia generally show positive correlations. Developing East Asia would benefit from wider regional mechanisms with the enhancement of intra-regional trade and financial integration. Since East Asia is at a critical turning point, this paper suggests that East Asian countries strive to strengthen the regional mechanisms with smoothly functioning, integrated regional markets while effectively controlling its risks. They should focus especially on enhancing trade policy cooperation, expediting capital market development, effectively managing cross-border portfolio investments, and strengthening regional safety networks. The three major countries in the region -- Japan, China, and Korea -- should take the lead in facilitating the integration process.


Financial Governance In East Asia

Author by : Gordon De Brouwer
Languange : en
Publisher by : Routledge
Format Available : PDF, ePub, Mobi
Total Read : 11
Total Download : 482
File Size : 53,8 Mb
GET BOOK

Description : First Published in 2004. Routledge is an imprint of Taylor & Francis, an informa company.


The Imf And East Asia

Author by : Gordon De Brouwer
Languange : en
Publisher by : Unknown
Format Available : PDF, ePub, Mobi
Total Read : 57
Total Download : 744
File Size : 46,9 Mb
GET BOOK

Description :


On East Asian Regional Cooperation I

Author by : Zhang Yunling
Languange : en
Publisher by : Routledge
Format Available : PDF, ePub, Mobi
Total Read : 31
Total Download : 494
File Size : 40,5 Mb
GET BOOK

Description : The book intents to locate the process and effectiveness of cooperation in East Asia, to regard the construction of the East Asian community as the ideal, to see the contradictions and difficulties in construction as the reality, and to identify the actual development and achievement as the choice and effort between the two. The year of 1997 saw the Asian financial crisis, which turned out to be a disaster but also opened up an opportunity for East Asia to establish cooperation mechanisms. Starting with the crisis, this book examines the origin and development of the East Asian cooperation movement. More importantly, it investigates the obstacles and resistance, and provides insights into the cooperation within East Asia in the context of unstable political environments. Specifically, it expounds the East Asian Free Trade Area, monetary cooperation, as well as the cooperation within Northeast Asian and Asia-Pacific regions.


Global Economic Uncertainties And Southeast Asian Economies

Author by : Suthiphand Chirathivat
Languange : en
Publisher by : Flipside Digital Content Company Inc.
Format Available : PDF, ePub, Mobi
Total Read : 71
Total Download : 121
File Size : 42,6 Mb
GET BOOK

Description : The aftermath of the global economic breakdown in 2008-9 underscores the risks facing Southeast Asia's growth prospects. Although the region has demonstrated exceptional resilience to external shocks emanating from economic powerhouses around the globe, Southeast Asia is in dire need of an optimal policy mix of macroeconomic and trade policy measures that differ by country, underpin domestic demand, and revive domestic economies. This book offers in-depth, region-specific economic policy discourse that illuminates how a policy push is at work in the region, and sheds light on room for strengthening regional cooperation.This book aims to: (1) discuss the developments of macroeconomic and trade-policy mix against the backdrop of the eurozone sovereign debt crisis and economic prospects for major countries in Southeast Asia (i.e., Singapore, Thailand, Malaysia, Indonesia, and Vietnam); (2) assess the effectiveness of policy responses to the global economic unrest; (3) identify opportunities and challenges facing Southeast Asia in the midst of the global economic slump when developing Southeast Asia leverages on an ever-expanding role in the global business environment; (4) rethink the East Asian model of growth where enormous gains were driven principally by export demands from advanced economies; and (5) pioneer the key areas of regional cooperation and macroeconomic and trade policy reforms that may potentially strengthen regional economies.


Co Design For A New East Asia After The Crisis

Author by : H. Hirakawa
Languange : en
Publisher by : Springer Science & Business Media
Format Available : PDF, ePub, Mobi
Total Read : 14
Total Download : 944
File Size : 44,8 Mb
GET BOOK

Description : East Asia enjoyed a role as a growth center of the world economy from the 1960s until the currency and economic crisis of 1997. In 1993, the World Bank issued a report entitled "The East Asian Miracle: Economic Growth and Public Policy," in which the bank expressed its admiration for the region 's rapid economic develop ment. However, within only four years the region had fallen prey to the currency and economic crisis that spread outward from Thailand. In the midst of the crisis, many East Asian countries began at long last to cooperate with one another in order to cope with these unprecedented difficulties and to prevent another crisis. In fact, the East Asian region was an exception throughout the 1990s with re spect to regionalism. A surge of regionalism, which began in Europe in the second half ofthe 1980s, spread to North America and Latin America. However, the North east Asian region in particular, consisting of Japan, China (People's Republic of China), and Korea (Republic of Korea), did not participate in any kind of regional economic arrangements. Regional cooperation frameworks were limited to coun tries belonging to the Association of Southeast Asian Nations (ASEAN) and did not spread to the Northeast Asian region.


East Asian Visions

Author by : Indermit Singh Gill
Languange : en
Publisher by : World Bank Publications
Format Available : PDF, ePub, Mobi
Total Read : 89
Total Download : 885
File Size : 41,6 Mb
GET BOOK

Description : Despite the diversity in income levels, languages, culture, resource endowments, and political systems, the countries of East Asia are more integrated now than they have ever been. Goods, money, and ideas are being traded across the region. East Asia is redefining itself from a collection of disparate nations that looked mainly to markets in the west, to a more self-reliant, innovative, and networked region. Countries in this region are strengthening ties with each other and seeking more strategic partnerships with the rest of the world. 'East Asian Visions' is a collection of essays that convey, firsthand, how some of the most influential thinkers in East Asia view these challenges. The writers are eminent policy makers, statesmen, and scholars. They write about how competition with the west has bred success; how crises in the region have provoked introspection; and how the rise of China is catalyzing change.


Unlocking The Potential For East And North East Asian Regional Economic Cooperation And Integration

Author by : United Nations Economic and Social Commission for Asia and the Pacific
Languange : en
Publisher by : United Nations
Format Available : PDF, ePub, Mobi
Total Read : 58
Total Download : 164
File Size : 45,8 Mb
GET BOOK

Description : At the outset, the subregions of East and North-East Asia are more dissimilar than similar, with different stages of development, economic structure and size, political systems and culture. Due to these differences and long standing historical and geopolitical tensions, institutionalized regionalization has not made much progress. Yet, there are increasing interactions and this publication looks into how greater cooperation and integration could offer solutions to not only the old problems of poverty and political instability facing the subregion but also the new challenges posed by economic growth such as emerging income gaps, environmental degradation, urbanization and congestion and various social issues.


Regional Financial Cooperation

Author by : José Antonio Ocampo
Languange : en
Publisher by : Brookings Institution Press
Format Available : PDF, ePub, Mobi
Total Read : 55
Total Download : 429
File Size : 45,7 Mb
GET BOOK

Description : Using the experience of postwar Western Europe as a benchmark, José Antonio Ocampo and his colleagues assess how regional financial institutions can help developing countries —often at a disadvantage within the global financial framework — finance their investment needs, counteract the volatility of private capital flows, and make their voices heard.The 1997 Asian financial crisis generated extensive debate on the international financial architecture. Through this discussion, it became clear that services by financial institutions — including adequate mechanisms for preventing and managing financial crises, and instruments for safeguarding global macroeconomic and financial stability —are undersupplied. Furthermore, private international capital markets provide finance to developing countries in a way that effectively reduces the ability of those nations to undertake countercyclical macroeconomic policies. International capital markets ration out many developing countries, particularly the poorest, from private global capital markets.While these deficiencies in the financial architecture are clear, the post-1997 debate has done little to evaluate the role that regional institutions could play in improving global financial arrangements. Regional Financial Cooperation aims to fill that important gap.Contributors include Ernest Aryeetey (Institute of Statistical, Social and Economic Research, University of Ghana), Georges Corm (Saint Joseph University, Beirut), Roy Culpeper (North-South Institute, Ottawa), Ana Teresa Fuzzo de Lima (Institute of Development Studies, University of Sussex), Stephany Griffith-Jones (Institute of Development Studies, University of Sussex), Julia Leung (Hong Kong Monetary Authority), José Luis Machinea (ECLAC), Jae Ha Park (Korean Institute of Finance),Yung Chul Park (Korea University), Fernando Prada (FORO Nactional/International, Lima), Guillermo Rozenwurcel (School of Politics and Government, University of San Martin, Argentina), Francisco Sagasti (FORO Nacional/Internacional, Programa Agenda: Peru), Kanit Sangsubhan (Fiscal Policy Research Institute of Thailand), Alfred Steinherr (European Investment Bank, Luxembourg and University of Bozen-Bolzano), Daniel Titelman (ECLAC), and Charles Wyplosz (Graduate Institute of International Studies, Geneva, and Center for Economic Policy Research).


Financial Globalization And Regionalism In East Asia

Author by : Takuji Kinkyo
Languange : en
Publisher by : Routledge
Format Available : PDF, ePub, Mobi
Total Read : 24
Total Download : 644
File Size : 51,9 Mb
GET BOOK

Description : With increased resilience in the financial systems, emerging Asian economies were less affected by the recent global financial crisis, recovering more quickly from the crisis than major advanced economies. Yet, Asian financial systems remain underdeveloped. More open and efficient financial systems continue to be a key priority for Asia’s development strategy. Emerging Asian economies need to tackle the new challenges to macroeconomic and financial stability posed by financial globalisation. This book identifies the key challenges to Asia’s financial development in an era of rapid financial globalisation and discusses their policy implications for financial reforms and regional cooperation in East Asia. Particular areas of focus include: the impact of financial globalisation on economic stability and inequality in East Asian economies; the progress of Asia’s regional financial cooperation and lessons from the recent European economic crisis; and the priority of financial reforms in individual Asian economies. Combining advanced econometric methods and in-depth case studies, this book provides rigorous and contextual analyses of the most critical issues for Asia’s financial development. It offers a comprehensive and useful guide for students, academics, and policymakers interested in the current state and future prospects of Asian financial systems.


Regional Community Building In East Asia

Author by : Lee Lai To
Languange : en
Publisher by : Routledge
Format Available : PDF, ePub, Mobi
Total Read : 92
Total Download : 412
File Size : 47,9 Mb
GET BOOK

Description : This volume is a collection of papers written by nationals or former nationals of the respective country in ASEAN and Northeast Asia. Unlike other works written by scholars outside ASEAN or East Asia, it offers an insider’s point of view of the 10 ASEAN states, China, Japan and South Korea on regional community building. While a nationalist perspective may permeate throughout the study, it is also clear that pursuing regional cooperation is considered to be important by the respective author, denoting the non-exclusivity between nationalism and regionalism and the mutual reinforcement of the two. Each author of this volume has made a deliberate effort to introduce and survey the developmental challenges and experiences of his or her country from a historical perspective. All authors, without exception, have emphasized the importance and advantages in staying with ASEAN or linking up with ASEAN by China, Japan and South Korea in political-security, economic and socio-cultural terms. Their papers also reveal that the self-help and self-strengthening mechanism emphasized by the ASEAN Plus Three process will take time to bear fruits. In the meantime, it seems that bilateral interactions and cooperation between ASEAN and Northeast Asian states remain to be more dominant as shown in this study. One can argue that bilateral interactions are the building block of multilateralism interactions. To be sure, there is a deliberate effort in this study to highlight "unity in diversity" in East Asia in general and ASEAN in particular.


Asia Pacific Issues

Author by : Anonim
Languange : en
Publisher by : Unknown
Format Available : PDF, ePub, Mobi
Total Read : 69
Total Download : 187
File Size : 47,9 Mb
GET BOOK

Description :


Asian Economic Integration Report 2017

Author by : Asian Development Bank
Languange : en
Publisher by : Asian Development Bank
Format Available : PDF, ePub, Mobi
Total Read : 58
Total Download : 574
File Size : 51,7 Mb
GET BOOK

Description : The Asian Economic Integration Report 2017 is the annual report on Asia's progress in regional cooperation and integration (RCI) of the Asian Development Bank (ADB). It covers ADB's 48 regional members and analyzes regional and global economic linkages. This year's special theme chapter, "The Era of Financial Interconnectedness: How Can Asia Strengthen Financial Resilience?" examines the region's ability to absorb financial shocks and avoid instability. The report introduces an RCI composite index to help monitor and evaluate RCI progress in the region. The Asia-Pacific Regional Cooperation and Integration Index combines six RCI components: trade and investment, money and finance, regional value chains, infrastructure connectivity, movement of people, and institutional and social integration.


Amu And Monetary Cooperation In Asia

Author by : Eiji Ogawa
Languange : en
Publisher by : Unknown
Format Available : PDF, ePub, Mobi
Total Read : 11
Total Download : 858
File Size : 41,6 Mb
GET BOOK

Description : Regional monetary and financial cooperation among the monetary authorities of Asian countries have been further strengthening through the recent global financial crisis in 2007-2008. Finance Ministers and Central Bank Governors of the ASEAN Members States, People's Republic of China (PRC), Japan and Korea (ASEAN plus three) and the monetary authority of Hong Kong, China announced that the Chiang Mai Initiative Multilateralization (CMIM) agreement came into effect on March 24, 2010. They also reached agreement on establishing a surveillance office, which is called an ASEAN plus three Macroeconomic Research Office (AMRO) and would ensure technical details of regional surveillance. The regional monetary cooperation in Asia has been discussed for years. For example, Ogawa and Shimizu (2005) proposed both an Asian Monetary Unit (AMU), which is a common currency basket computed as a weighted average of the thirteen ASEAN plus three currencies, and AMU Deviation Indicators (AMU DIs), which indicates deviation of each Asian currency in terms of the AMU compared with the benchmark rate. The AMU and the AMU DIs are considered as both surveillance measures under the Chiang Mai Initiative and coordinated exchange rate policies among Asian countries. In this paper, we show that monitoring the AMU and the AMU DIs plays an important role in the regional surveillance process under the CMIM. By using daily and monthly data of AMU and AMU DIs in the period between January 2000 to June 2010, which are available in a website of the Research Institute of Economy, Trade, and Industry (RIETI), we examine their usefulness as a surveillance indicator. Our studies of AMU and AMU DIs confirm as follows: First, an AMU peg system stabilizes Nominal Effective Exchange Rate (NEER) of each Asian countries. Second, the AMU and the AMU DIs could warn overvaluation or undervaluation for each of Asia currencies. Third, trade imbalances within the region have been growing as the AMU DIs have been widen


Monetary And Financial Cooperation In East Asia

Author by : Masahiro Kawai
Languange : en
Publisher by : OUP Oxford
Format Available : PDF, ePub, Mobi
Total Read : 31
Total Download : 997
File Size : 50,8 Mb
GET BOOK

Description : The global financial crisis and the Eurozone crisis have led to a profound rethink in East Asia about the international monetary system and regional monetary and financial integration. After the East Asian crisis of 1997, deeper regional cooperation was seen as the way to avoid reliance on the IMF and the rest of the world. Steps were taken, but they were limited because of disagreements reflecting regional rivalries. Still, integration into the global financial system and Europe's regional process were seen as objectives to be adapted to East Asia, as detailed in an overview chapter. The crises have shaken this strategy but also revealed the pre-existing deep disagreements. This book presents contributions by scholars from different countries. Each one was invited to describe the vision of their policymakers. The traidtional rivalry between China and Japan, the region's largest economies, reveals Chinese confidence into its rising power and Japanese growing doubts about its ability to weigh on the debate. For opposite reasons, both display a declining interest into regional cooperation. Korea and the ASEAN countries do not wish to choose between the regional powers but remain attached to regional cooperation and integration. They look for pragmatic solutions that recognize the value-chain characteristic of trade. Additional contributions by US and European scholars provide evaluations of the global and Eurozone crises and of their relevance for East Asian integration.


Meeting The Challenges In An Era Of Globalization By Strengthening Regional Development Cooperation

Author by : United Nations. Economic and Social Commission for Asia and the Pacific
Languange : en
Publisher by : UN
Format Available : PDF, ePub, Mobi
Total Read : 94
Total Download : 457
File Size : 44,7 Mb
GET BOOK

Description : This study explores the current state of regional co-operation in the Asia-Pacific region, and the development policy challenges involved in managing the effects of increasing globalisation. It focuses on four key areas of trade, finance, transport and information and communications technology (ICT). Issues discussed include: whether the EU can provide an integration model for the region; regional co-operation arrangements such as ASEAN and SAARC; as well as a number of recent initiatives including the growing array of preferential trade agreements, the Asian Bond Market proposals; the Digital Solidarity Agenda; the Asian Highway; and the Trans-Asian railway.


Regional Cooperation In Asia

Author by : Ramgopal Agarwala
Languange : en
Publisher by : Unknown
Format Available : PDF, ePub, Mobi
Total Read : 83
Total Download : 543
File Size : 41,7 Mb
GET BOOK

Description : Intra-regional flows of trade, labor, and capital grew rapidly in Asia over the last few decades. However, in recent years, there has been retrogression in all 3 areas basically associated with the slowdown in growth, and departure from the East Asian model in these economies. Major economies are now going through a prolonged slump and suffering from a massive misallocation of its resources, both labor and capital. What is needed now is a program for strengthening the regional fin'l. infrastructure, which would involve a vastly increased role for the Asian Develop. Bank in resource transfer within the region and establishment of an "Asian Reserve Bank" for greater stability in exchange rates, greater financial security, and greater resource mobilization in the area.


East Asia

Author by : Gennady Chufrin
Languange : en
Publisher by : Inst of Southeast Asian Studies
Format Available : PDF, ePub, Mobi
Total Read : 99
Total Download : 674
File Size : 42,9 Mb
GET BOOK

Description : The book analyses modern tendencies in the development of regional economic cooperation in East Asia which is considered by regional countries as their response to growing challenges of globalization. Trying to protect their national interests by collective efforts they are promoting regional commercial, investment, and financial cooperation as measures aimed at improving the efficiency of their economies. These steps however are not regarded as a counterweight to globalization but merely directed against most negative manisfestations of the latter and in fact are realized as one of the forms of globalization at the regional level.


Asian Development Experience Vol 3

Author by : Ryokichi Hirono
Languange : en
Publisher by : Institute of Southeast Asian Studies
Format Available : PDF, ePub, Mobi
Total Read : 36
Total Download : 554
File Size : 44,7 Mb
GET BOOK

Description : As ASEAN Vision 2020 proclaims, the members of ASEAN have achieved remarkable success in economic growth, stability and poverty reduction, over the past decades. There are, however, still diverse debates as to the factors which contributed to the success, with no conclusive assessment. This volume reviews the domestic reforms effectively introduced by ASEAN members after the 1997 financial crisis and what could be done to accelerate such reforms. With the entry of the 4 new members into AS...