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

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  • Pasadilla, Gloria

Abstract

This paper distills some policy lessons from the financial services integration program 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 EU’s financial sector liberalization program 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

  • Pasadilla, Gloria, 2008. "Financial Services Integration in East Asia: Lessons from the European Union," Discussion Papers DP 2008-31, Philippine Institute for Development Studies.
    • Handle: RePEc:phd:dpaper:dp_2008-31
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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. 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: Masahiro Kawai & David G. Mayes & Peter Morgan (ed.), Implications of the Global Financial Crisis for Financial Reform and Regulation in Asia, chapter 7, Edward Elgar Publishing.
    3. 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.
    4. Chikako IWATA & Jose Ma. Luis MONTESCLAROS & Xiao QI, 2015. "Systemic risks of asean+3 financial integration: challenges, opportunities and the future," Revista Digital Mundo Asia Pacífico, Universidad EAFIT, vol. 4(5), pages 63-80, June.
    5. 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.
    6. Jamshaid ur Rehman & Tasneem Zafar & Shabbir Ahmad & Aftab Anwar, 2022. "In Search of Common Currency Anchor for ASEAN+3+3 Countries," Journal of Policy Research (JPR), Research Foundation for Humanity (RFH), vol. 8(3), pages 237-264, September.

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    More about this item

    Keywords

    regional economic integration; banking; East Asia; financial services liberalization;
    All these keywords.

    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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