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Moving Beyond Bilateralism? Japan and the Asian Monetary Fund


  • Jennifer Amyx


This paper examines the political dynamics surrounding the Japanese government’s initial proposal for the creation of an Asian Monetary Fund (AMF) in 1997 and the arrangements that have emerged in its place. Specifically, the paper delves into why Japan attempted to embark on regional institution building independent of the United States and the International Monetary Fund (IMF) in 1997 but has since supported the close linkage to the IMF of a network of bilateral currency swap arrangements in the region. The findings reveal the formidable difficulties Japan faces in circumventing the activities of US-dominated multilateral institutions to play a greater leadership role in financial crisis management in Asia.

Suggested Citation

  • Jennifer Amyx, 2002. "Moving Beyond Bilateralism? Japan and the Asian Monetary Fund," Asia Pacific Economic Papers 331, Australia-Japan Research Centre, Crawford School of Public Policy, The Australian National University.
  • Handle: RePEc:csg:ajrcau:331

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    Cited by:

    1. Robert B. Kahn & Ellen E. Meade, 2016. "International Aspects of Central Banking : Diplomacy and Coordination," Finance and Economics Discussion Series 2016-062, Board of Governors of the Federal Reserve System (U.S.).

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    JEL classification:

    • F02 - International Economics - - General - - - International Economic Order and Integration


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