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Financial Fragility and Crisis Union in the Asia-Pacific Region

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  • Strobel Frank

    (University of Birmingham)

Abstract

We examine whether core ASEAN+3 countries might be interested in joining a financial "crisis union," allowing for the role of uncertainty by constructing a stylized real options model of the decision problem involved. We calibrate that model by proxying financial fragility with commonly used bank asset ratios and observe that, according to our criteria, a wider financial crisis union might be more attainable the more encompassing that grouping is; however, our results also reinforce the common perception of pervasive, possibly prohibitive, heterogeneity in these countries' banking and financial systems.

Suggested Citation

  • Strobel Frank, 2009. "Financial Fragility and Crisis Union in the Asia-Pacific Region," Global Economy Journal, De Gruyter, vol. 9(2), pages 1-12, June.
    • Handle: RePEc:bpj:glecon:v:9:y:2009:i:2:n:7
    DOI: 10.2202/1524-5861.1460
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    Cited by:

    1. Laetitia Lepetit & Clovis Rugemintwari & Frank Strobel, 2015. "Monetary, Financial and Fiscal Stability in the East African Community: Ready for a Monetary Union?," The World Economy, Wiley Blackwell, vol. 38(8), pages 1179-1204, August.
    2. Suominen Kati, 2010. "Insuring Against Instability: United States and the Future of the International Monetary Fund," Global Economy Journal, De Gruyter, vol. 10(3), pages 1-23, October.

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