Institutions for Economic and Financial Integration in Asia: Trends and Prospects
AbstractAsian economic regionalism has emerged from a bottom-up process, driven by market forces in the absence of a grand plan for regional integration. While the financial crisis of 1997–98 triggered new regional cooperation initiatives, more recently several Asian political leaders have formulated proposals for the creation of a regional economic community, suggesting the possible start of a top-down approach. Based on the results of a survey of Asia’s opinion leaders conducted by the Asian Development Bank (ADB) in 2010, this paper discusses how Asia’s institutional architecture for economic and financial integration is taking shape, suggesting the need to strengthen existing institutions that promote Asian regionalism and to create new ones.
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Bibliographic InfoPaper provided by Asian Development Bank Institute in its series ADBI Working Papers with number 308.
Length: 28 pages
Date of creation: 07 Sep 2011
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chiang mai initiative; economic cooperation; regional integration;
Find related papers by JEL classification:
- F15 - International Economics - - Trade - - - Economic Integration
- F36 - International Economics - - International Finance - - - Financial Aspects of Economic Integration
- F55 - International Economics - - International Relations, National Security, and International Political Economy - - - International Institutional Arrangements
- H87 - Public Economics - - Miscellaneous Issues - - - International Fiscal Issues; International Public Goods
- O53 - Economic Development, Technological Change, and Growth - - Economywide Country Studies - - - Asia including Middle East
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