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Asia and Global Financial Governance

Author

Listed:
  • C. Randall Henning

    (Peterson Institute for International Economics)

  • Mohsin S. Khan

    (Peterson Institute for International Economics)

Abstract

Currently, Asia’s influence in global financial governance is not consistent with its weight in the world economy. This paper examines the role of Asia in the International Monetary Fund (IMF) and the Group of Twenty (G-20). It looks in particular at how the relationship between East Asian countries and the IMF has evolved since the Asian financial crisis of 1997-98 and outlines how Asian regional arrangements for crisis financing and economic surveillance could constructively interact with the IMF in the future. It also considers ways to enhance the effectiveness of Asian countries in the G-20 process.

Suggested Citation

  • C. Randall Henning & Mohsin S. Khan, 2011. "Asia and Global Financial Governance," Working Paper Series WP11-16, Peterson Institute for International Economics.
    • Handle: RePEc:iie:wpaper:wp11-16
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    References listed on IDEAS

    as
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    3. Edwin M. Truman, 2010. "The G-20 and International Financial Institution Governance," Working Paper Series WP10-13, Peterson Institute for International Economics.
    4. Ms. Natalia T. Tamirisa & Mr. Simon Johnson & Ms. Kalpana Kochhar & Todd Mitton, 2006. "Malaysian Capital Controls: Macroeconomics and Institutions," IMF Working Papers 2006/051, International Monetary Fund.
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    6. Chalongphob Sussangkarn, 2010. "The Chiang Mai Initiative Multilateralization : Origin, Development and Outlook," Governance Working Papers 22821, East Asian Bureau of Economic Research.
    7. Koichi Hamada & Beate Reszat & Ulrich Volz (ed.), 2009. "Towards Monetary and Financial Integration in East Asia," Books, Edward Elgar Publishing, number 13458.
    8. C. Randall Henning, 2009. "The Future of the Chiang Mai Initiative: An Asian Monetary Fund?," Policy Briefs PB09-5, Peterson Institute for International Economics.
    9. Simon Johnson & Kalpana Kochhar & Todd Mitton & Natalia Tamirisa, 2007. "Malaysian Capital Controls: Macroeconomics and Institutions," NBER Chapters, in: Capital Controls and Capital Flows in Emerging Economies: Policies, Practices, and Consequences, pages 529-574, National Bureau of Economic Research, Inc.
    10. C. Randall Henning, 2002. "East Asian Financial Cooperation," Peterson Institute Press: All Books, Peterson Institute for International Economics, number pa68, October.
    11. Masahiro Kawai, 2010. "Reform Of The International Financial Architecture: An Asian Perspective," The Singapore Economic Review (SER), World Scientific Publishing Co. Pte. Ltd., vol. 55(01), pages 207-242.
    12. Takagi, Shinji, 2010. "Regional Surveillance for East Asia: How Can It Be Designed to Complement Global Surveillance?," Working Papers on Regional Economic Integration 50, Asian Development Bank.
    13. C. Randall Henning, 2011. "Coordinating Regional and Multilateral Financial Institutions," Working Paper Series WP11-9, Peterson Institute for International Economics.
    14. Mohsin S. Khan & Sunil Sharma, 2003. "IMF Conditionality and Country Ownership of Adjustment Programs," The World Bank Research Observer, World Bank, vol. 18(2), pages 227-248.
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    Cited by:

    1. Mario Lamberte & Peter J. Morgan, 2012. "Regional and Global Monetary Cooperation," Finance Working Papers 23190, East Asian Bureau of Economic Research.
    2. Edwin M. Truman, 2011. "Asian regional policy coordination," Proceedings, Federal Reserve Bank of San Francisco, issue Nov, pages 247-292.
    3. C. Randall Henning, 2012. "Choice and Coercion in East Asian Exchange Rate Regimes," Working Paper Series WP12-15, Peterson Institute for International Economics.
    4. Margot Schüller & Jan Peter Wogart, 2017. "The emergence of post-crisis regional financial institutions in Asia—with a little help from Europe," Asia Europe Journal, Springer, vol. 15(4), pages 483-501, December.

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    More about this item

    Keywords

    Asia; G-20; IMF; regional financial arrangements; global governance;
    All these keywords.

    JEL classification:

    • F02 - International Economics - - General - - - International Economic Order and Integration
    • F55 - International Economics - - International Relations, National Security, and International Political Economy - - - International Institutional Arrangements

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