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Monetary Integration in East Asia: Issues of Economic and Policy Convergence in a Comparative Context

Listed author(s):
  • Mordechai E. Kreinin

    (Michigan State University)

  • Michael G. Plummer


    (The Johns Hopkins University, SAIS-Bologna)

In recent years, Asian policymakers have considered the possibility of promoting closer financial integration and, possibly, monetary union. This paper considers the economics of the decision to form a currency union in East Asia using the European experience as a benchmark. We also compare the appropriateness of an East Asian currency union to MERCOSUR. In sum, we find that a core group of five East Asian countries appear to meet the convergence criteria set out in the Maastricht Treaty, whereas some of the others are moving toward that goal. The macroeconomic indicators tend to be strong and symmetric.

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Paper provided by The Rimini Centre for Economic Analysis in its series Professional Reports with number 02_09.

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Date of creation: Jan 2009
Handle: RePEc:rim:rimpre:02_09
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