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Cross-Border Financial Integration in Asia and the Macro-Financial Policy Framework

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  • Philip R. Lane

    (Institute for International Integration Studies, Trinity College Dublin)

Abstract

Asia came through the global financial crisis relatively well. At the same time, financial globalization means that Asia cannot be fully insulated from international financial shocks. Moreover, it is likely that the rest of the world will undergo a redesign of its international financial profile, such that Asia will also have to adapt. All in all, there is likely to be considerable convergence in the composition of international balance sheets across Asia and the rest of the world. In turn, this is likely to be associated with a higher degree of regional financial integration within Asia. These structural changes call for the careful design of a prudential macro-financial policy framework.

Suggested Citation

  • Philip R. Lane, 2013. "Cross-Border Financial Integration in Asia and the Macro-Financial Policy Framework," The Institute for International Integration Studies Discussion Paper Series iiisdp423, IIIS.
    • Handle: RePEc:iis:dispap:iiisdp423
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    Cited by:

    1. Peter Drysdale & Sébastien Willis, 2014. "International Institutions and the Rise of Asia," Asia and the Pacific Policy Studies, Wiley Blackwell, vol. 1(3), pages 455-469, September.

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