Advanced Search
MyIDEAS: Login to save this paper or follow this series

Responding to the Global Financial Crisis: The Evolution of Asian Regionalism and Economic Globalization


Author Info

  • Chin, Gregory

    (Asian Development Bank Institute)

Registered author(s):


    This paper examines the evolving dynamics between economic globalization and Asian regional interdependence, and asks whether and how the global financial crisis impacted Asian regionalism. The analysis suggests that the global crisis did trigger advances in regional policy cooperation from 2007 onwards, especially in the area of financial and monetary cooperation. Although the first order response of Asian countries was to join the broader global effort to contain financial freefall at the world level, there emerged a second order response at the level of regional institutional building, specifically to “multilateralize” the Chiang Mai Initiative, and to develop a regional trust fund to help strengthen Asian bond markets.

    Download Info

    If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
    File URL:
    File Function: Full text
    Download Restriction: no

    Bibliographic Info

    Paper provided by Asian Development Bank Institute in its series ADBI Working Papers with number 343.

    as in new window
    Length: 23 pages
    Date of creation: 02 Feb 2012
    Date of revision:
    Handle: RePEc:ris:adbiwp:0343

    Contact details of provider:
    Postal: Kasumigaseki Building 8F, 3-2-5, Kasumigaseki, Chiyoda-ku,, Tokyo 100-6008, Japan
    Phone: (81-3)3593-5500
    Fax: (81-3) 3593-5571
    Web page:
    More information through EDIRC

    Related research

    Keywords: economic globalization; asian regional interdependence; global financial crisis; asian regionalism;

    Find related papers by JEL classification:


    References listed on IDEAS
    Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
    as in new window
    1. PG Rajamohan & Dil Bahadur Rahut & Jabin T Jacob, 2008. "Changing Paradigm of Indo-Japan Relations: Opportunities and Challenges," Working Papers id:1539, eSocialSciences.
    2. Zhai, Fan, 2010. "The Benefits of Regional Infrastructure Investment in Asia: A Quantitative Exploration," ADBI Working Papers 223, Asian Development Bank Institute.
    3. Giovanni Capannelli, 2011. "Institutions for Economic and Financial Integration in Asia : Trends and Prospects," Trade Working Papers 23228, East Asian Bureau of Economic Research.
    4. Giovanni Capannelli, 2011. "Institutions for Economic and Financial Integration in Asia : Trends and Prospects," Governance Working Papers 23228, East Asian Bureau of Economic Research.
    5. Capannelli, Giovanni, 2011. "Institutions for Economic and Financial Integration in Asia: Trends and Prospects," ADBI Working Papers 308, Asian Development Bank Institute.
    6. Adams, Charles & Jeong, Hoe Yun & Park, Cyn-Young, 2010. "Asia’s Contribution to Global Rebalancing," Working Papers on Regional Economic Integration 58, Asian Development Bank.
    7. Biswa Nath Bhattacharyay, 2010. "Institutions for Asian Connectivity," Governance Working Papers 21871, East Asian Bureau of Economic Research.
    8. Haruhiko Kuroda & Masahiro Kawai, 2002. "Strengthening Regional Financial Cooperation in East Asia," Asia Pacific Economic Papers 332, Australia-Japan Research Centre, Crawford School of Public Policy, The Australian National University.
    9. Capannelli, Giovanni & Lee, Jong-Wha & Petri, Peter, 2009. "Developing Indicators for Regional Economic Integration and Cooperation," Working Papers on Regional Economic Integration 33, Asian Development Bank.
    10. Arner, Douglas & Schou-Zibell, Lotte, 2010. "Responding to the Global Financial and Economic Crisis: Meeting the Challenges in Asia," Working Papers on Regional Economic Integration 60, Asian Development Bank.
    Full references (including those not matched with items on IDEAS)



    This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.


    Access and download statistics


    When requesting a correction, please mention this item's handle: RePEc:ris:adbiwp:0343. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Robert Hugh Davis).

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If references are entirely missing, you can add them using this form.

    If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.