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Financial Services Integration in East Asia : Lessons from the European Union

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  • Gloria O. Pasadilla

    (PIDS)

Abstract

This paper distills some policy lessons from the financial services integration programme in the European Union for East Asia. Focusing on the improved cross-border facilitation of financial flows rather than on general macroeconomic factors related to optimal currency area formation, the paper discusses some specific features of the EUs financial sector liberalization programme and the results achieved so far. Considering the institutional difference between EU and East Asia, it discusses what possible features of the EU experience will be replicable in the region.

Suggested Citation

  • Gloria O. Pasadilla, 2008. "Financial Services Integration in East Asia : Lessons from the European Union," Finance Working Papers 22680, East Asian Bureau of Economic Research.
  • Handle: RePEc:eab:financ:22680
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    File URL: http://www.eaber.org/node/22680
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    References listed on IDEAS

    as
    1. Dorrucci, Ettore & Firpo, Stefano & Mongelli, Francesco Paolo & Fratzscher, Marcel, 2002. "European integration: what lessons for other regions? The case of Latin America," Working Paper Series 0185, European Central Bank.
    2. Paula Bongini, 2003. "The EU Experience in Financial Services Liberalization: A Model for GATS Negotiations?," SUERF Studies, SUERF - The European Money and Finance Forum, number 2003/2 edited by Morten Balling.
    3. Gual, Jordi, 2003. "Integration of EU banking markets, The," IESE Research Papers D/504, IESE Business School.
    4. Andrew Sheng, 2006. "Building National and Regional Financial Markets: The East Asian Experience," Papers Presented at Global Meetings of the Emerging Markets Forum 2006regfinmkt, Emerging Markets Forum.
    5. Lane, Philip & Milesi-Ferretti, Gian Maria, "undated". "External Wealth of Nations," Instructional Stata datasets for econometrics extwealth, Boston College Department of Economics.
    6. Ramkishen Rajan & Rahul Sen, 2002. "Liberalisation of Financial Services in Southeast Asia under the ASEAN Framework Agreement on Services (AFAS)," Centre for International Economic Studies Working Papers 2002-26, University of Adelaide, Centre for International Economic Studies.
    7. Leslie E Teo & David Cowen & Hemant Shah & Ranil M Salgado & Alessandro Zanello, 2006. "Financial Integration in Asia; Recent Developments and Next Steps," IMF Working Papers 06/196, International Monetary Fund.
    8. Lieven Baele & Annalisa Ferrando & Peter Hördahl & Elizaveta Krylova & Cyril Monnet, 2004. "Measuring financial integration in the euro area," Occasional Paper Series 14, European Central Bank.
    Full references (including those not matched with items on IDEAS)

    Citations

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    Cited by:

    1. Hong Bum Jang, 2011. "Financial Integration and Cooperation in East Asia: Assessment of Recent Developments and Their Implications," IMES Discussion Paper Series 11-E-05, Institute for Monetary and Economic Studies, Bank of Japan.
    2. Gajewski, Krzysztof & Olszewski, Krzysztof & Pawłowska, Małgorzata & Rogowski, Wojciech & Tchorek, Grzegorz & Zięba, Jolanta, 2012. "Integracja finansowa w Europie po wprowadzeniu euro. Przegląd literatury
      [Financial integration in Europe after the introduction of the euro. A literature overview]
      ," MPRA Paper 42482, University Library of Munich, Germany.
    3. Adalbert Winkler, 2012. "The Financial Crisis: A Wake-up Call for Strengthening Regional Monitoring of Financial Markets and Regional Coordination of Financial Sector Policies?," Chapters,in: Implications of the Global Financial Crisis for Financial Reform and Regulation in Asia, chapter 7 Edward Elgar Publishing.
    4. Choong Lyol Lee & Shinji Takagi, 2015. "Assessing the Financial Landscape for the Association of Southeast Asian Nations Economic Community, 2015," Asia and the Pacific Policy Studies, Wiley Blackwell, vol. 2(1), pages 116-129, January.

    More about this item

    Keywords

    Regional Economic Integration; financial services liberalization; Banking; East Asia;

    JEL classification:

    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages
    • F15 - International Economics - - Trade - - - Economic Integration
    • F36 - International Economics - - International Finance - - - Financial Aspects of Economic Integration

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