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Reform of the International Financial Architecture: An Asian Perspective

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  • Masahiro Kawai

Abstract

It has taken two crises—the Asian financial crisis of 1997-1998 and the global financial crisis of 2007-2009—for the international community to seriously focus on the reform of the international financial architecture for crisis prevention, management and resolution. Facing the global financial crisis, the international community has responded by making the G20 Summit the premier forum for international economic and financial cooperation, creating a potentially more powerful Financial Stability Board, and augmenting the financial resources of the IMF. [ADBI Working Paper 167]

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  • Masahiro Kawai, 2010. "Reform of the International Financial Architecture: An Asian Perspective," Working Papers id:3066, eSocialSciences.
    • Handle: RePEc:ess:wpaper:id:3066
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    Cited by:

    1. D. Essers & E. Vincent, 2017. "The global financial safety net :In need of repair ?," Economic Review, National Bank of Belgium, issue ii, pages 87-112, september.
    2. Hong Bum Jang, 2011. "Financial Integration and Cooperation in East Asia: Assessment of Recent Developments and Their Implications," IMES Discussion Paper Series 11-E-05, Institute for Monetary and Economic Studies, Bank of Japan.
    3. Ashima Goyal, 2012. "The Future Of Financial Liberalization In South Asia," Asia-Pacific Development Journal, United Nations Economic and Social Commission for Asia and the Pacific (ESCAP), vol. 19(1), pages 63-96, June.
    4. Rana, Pradumna Bickram & Chia, Wai-Mun & Jinjarak, Yothin, 2012. "Monetary integration in ASEAN+3: A perception survey of opinion leaders," Journal of Asian Economics, Elsevier, vol. 23(1), pages 1-12.
    5. Cheng, Gong, 2015. "The Global Financial Safety Net through the Prism of G20 Summits," MPRA Paper 68070, University Library of Munich, Germany, revised Nov 2015.
    6. Hal Hill & Jayant Menon, 2014. "Financial safety nets in Asia: genesis, evolution, adequacy and way forward," Chapters, in: Masahiro Kawai & Peter J. Morgan & Pradumna B. Rana (ed.), New Global Economic Architecture, chapter 5, pages 83-111, Edward Elgar Publishing.
    7. Bose, Udichibarna & MacDonald, Ronald & Tsoukas, Serafeim, 2019. "Policy initiatives and firms' access to external finance: Evidence from a panel of emerging Asian economies," Journal of Corporate Finance, Elsevier, vol. 59(C), pages 162-184.
    8. Yamamoto, Shugo, 2014. "Transmission of US financial and trade shocks to Asian economies: Implications for spillover of the 2007–2009 US financial crisis," The North American Journal of Economics and Finance, Elsevier, vol. 27(C), pages 88-103.
    9. Edwin M. Truman, 2011. "Asian regional policy coordination," Proceedings, Federal Reserve Bank of San Francisco, issue Nov, pages 247-292.
    10. Bose, Udichibarna & MacDonald, Ronald & Tsoukas, Serafeim, 2015. "Policy initiatives and firms' access to external finance: Evidence from a panel of emerging Asian economies," 2007 Annual Meeting, July 29-August 1, 2007, Portland, Oregon TN 2015-65, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    11. Paul De Grauwe & Zhaoyong Zhang & Paul De Grauwe & Zhaoyong Zhang, 2016. "The Rise of China and Regional Integration in East Asia," Scottish Journal of Political Economy, Scottish Economic Society, vol. 63(1), pages 1-6, February.
    12. Kuo-Chun Yeh, 2013. "An Asian Currency Unit: Simulations for Its Effects on East Asia," The World Economy, Wiley Blackwell, vol. 36(12), pages 1611-1631, December.
    13. Wu, Chiu-Hui & Ding, Cherng G. & Jane, Ten-Der & Lin, Hang-Rung & Wu, Cheng-Ying, 2015. "Lessons from the global financial crisis for the semiconductor industry," Technological Forecasting and Social Change, Elsevier, vol. 99(C), pages 47-53.
    14. C. Randall Henning, 2011. "Coordinating Regional and Multilateral Financial Institutions," Working Paper Series WP11-9, Peterson Institute for International Economics.
    15. Capannelli, Giovanni & Tan, See Seng, 2012. "Institutions for Asian Integration: Innovation and Reform," ADBI Working Papers 375, Asian Development Bank Institute.
    16. C. Randall Henning & Mohsin S. Khan, 2011. "Asia and Global Financial Governance," Working Paper Series WP11-16, Peterson Institute for International Economics.
    17. Moon, Woosik, 2013. "Cross-Border Price Differentials and Goods Market Integration in East Asia," ADBI Working Papers 426, Asian Development Bank Institute.
    18. Ding, Cherng G. & Wu, Chiu-Hui & Chang, Pao-Long, 2013. "The influence of government intervention on the trajectory of bank performance during the global financial crisis: A comparative study among Asian economies," Journal of Financial Stability, Elsevier, vol. 9(4), pages 556-564.
    19. Harinder Kohli & Ashok Sharma & Anil Sood (ed.), 2011. "Asia 2050: Realizing the Asian Century," Books, Emerging Markets Forum, edition 1, number asia2050, May.

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    More about this item

    Keywords

    Asian; financial; architecture; Financial Stability Board;
    All these keywords.

    JEL classification:

    • F30 - International Economics - - International Finance - - - General
    • F32 - International Economics - - International Finance - - - Current Account Adjustment; Short-term Capital Movements
    • F33 - International Economics - - International Finance - - - International Monetary Arrangements and Institutions
    • F34 - International Economics - - International Finance - - - International Lending and Debt Problems
    • F53 - International Economics - - International Relations, National Security, and International Political Economy - - - International Agreements and Observance; International Organizations
    • F55 - International Economics - - International Relations, National Security, and International Political Economy - - - International Institutional Arrangements

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