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The Chiang Mai Initiative and Beyond

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  • Yung Chul Park
  • Yunjong Wang
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    Abstract

    More than three years have passed since the inception of the Chiang Mai Initiative (CMI) in May 2000. Although much progress has been made, the present structure of the CMI is still incomplete. The purpose of this paper is to provide a view on the current process and future prospects for regional financial and monetary cooperation in East Asia. Looking forward, the most realistic scenario is that the countries participating in the CMI will muddle through, continuously discussing modalities of policy dialogue, the types of the surveillance system the CMI needs, and also augmentation of swap amounts without making any substantial progress. Copyright Blackwell Publishing Ltd 2005.

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    Bibliographic Info

    Article provided by Wiley Blackwell in its journal The World Economy.

    Volume (Year): 28 (2005)
    Issue (Month): 1 (01)
    Pages: 91-101

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    Handle: RePEc:bla:worlde:v:28:y:2005:i:1:p:91-101

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    Cited by:
    1. Imbs, Jean & Mauro, Paolo, 2007. "Pooling Risk Among Countries," CEPR Discussion Papers 6461, C.E.P.R. Discussion Papers.
    2. Yuliya Demyanyk & Vadym Volosovych, 2007. "Gains from financial integration in the European union: evidence for new and old members," Supervisory Policy Analysis Working Papers 2007-01, Federal Reserve Bank of St. Louis.
    3. Adalbert Winkler, 2010. "The Financial Crisis: A Wake-Up Call for Strengthening Regional Monitoring of Financial Markets and Regional Coordination of Financial Sector Policies?," Working Papers id:3021, eSocialSciences.

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