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

Author

Listed:
  • Mordechai E. Kreinin

    (Michigan State University)

  • Michael G. Plummer

    () (The Johns Hopkins University, SAIS-Bologna)

Abstract

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.

Suggested Citation

  • Mordechai E. Kreinin & Michael G. Plummer, 2009. "Monetary Integration in East Asia: Issues of Economic and Policy Convergence in a Comparative Context," Professional Reports 02_09, Rimini Centre for Economic Analysis.
  • Handle: RePEc:rim:rimpre:02_09
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    File URL: http://www.rcea.org/RePEc/pdf/pr02_09.pdf
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    More about this item

    Keywords

    Monetary integration; ASEAN; Economic Integration; East Asia;

    JEL classification:

    • F33 - International Economics - - International Finance - - - International Monetary Arrangements and Institutions

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