Monetary Integration in East Asia: Issues of Economic and Policy Convergence in a Comparative Context
AbstractIn recent years, Asian policymakers have considered the possibility of promoting closer financial integration and, possibly, monetary union. This paper considers the economics of the decision to form a currency union in East Asia using the European experience as a benchmark. We also compare the appropriateness of an East Asian currency union to MERCOSUR. In sum, we find that a core group of five East Asian countries appear to meet the convergence criteria set out in the Maastricht Treaty, whereas some of the others are moving toward that goal. The macroeconomic indicators tend to be strong and symmetric.
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Bibliographic InfoPaper provided by The Rimini Centre for Economic Analysis in its series Professional Reports with number 02_09.
Date of creation: Jan 2009
Date of revision:
Monetary integration; ASEAN; Economic Integration; East Asia;
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- F33 - International Economics - - International Finance - - - International Monetary Arrangements and Institutions
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