Monetary and Financial Cooperation in East Asia: The State of Affairs After the Global and European Crises (by Masahiro Kawai, Yung Chul Park, Charles Wyplosz)


Author(s): Masahiro Kawai, Yung Chul Park, Charles Wyplosz

Publisher: Oxford University Press
Publish date: 2015-06-16
ISBN-10: 0198714157
ISBN-13: 9780198714156
Language: English
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… more…

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