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Financial Integration in East Asia: How Far? How Much Further to Go?

Author

Listed:
  • Ramkishen S. Rajan

    ()

  • Reza Y. Siregar

    ()

  • Tony Cavoli

    ()

Abstract

Despite numerous empirical studies examining various facets of the topic, the degree of intraregional financial integration in East Asia remains a matter of vigorous debate. This paper offers a selective survey of the recent empirical literature on financial integration, the focus being on alternative definitions of financial integration and measurement issues and results. The focus is on the ASEAN–5 plus 3 or APT economic group (i.e. Indonesia, Thailand, Malaysia, Philippines, Singapore, Korea, China and Japan) as well as Hong Kong and Chinese Taipei. These are the economies that have consciously attempted to intensify intraregional monetary and financial cooperation in the last few years, particularly since the East Asian crisis of 1997-98.

Suggested Citation

  • Ramkishen S. Rajan & Reza Y. Siregar & Tony Cavoli, 2006. "Financial Integration in East Asia: How Far? How Much Further to Go?," Working Papers id:372, eSocialSciences.
  • Handle: RePEc:ess:wpaper:id:372
    Note: Working Papers
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    References listed on IDEAS

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    Cited by:

    1. Guglielmo Maria Caporale & Luis A. Gil-Alana & Kefei You, 2017. "Global and Regional Financial Integration in Emerging Asia: Evidence from Stock Markets," Discussion Papers of DIW Berlin 1668, DIW Berlin, German Institute for Economic Research.
    2. Guglielmo Maria Caporale & Kefei You, 2017. "Stock Market Integration in Asia: Global or Regional? Evidence from Industry Level Panel Convergence Tests," CESifo Working Paper Series 6494, CESifo Group Munich.
    3. Rughoo, Aarti & You, Kefei, 2016. "Asian financial integration: Global or regional? Evidence from money and bond markets," International Review of Financial Analysis, Elsevier, vol. 48(C), pages 419-434.

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