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Institutions for Economic and Financial Integration in Asia: Trends and Prospects

Author

Listed:
  • Giovanni Capannelli

    (Asian Development Bank Institute)

Abstract

Asian economic regionalism has emerged from a bottom-up process, driven by market forces in the absence of a grand plan for regional integration. While the financial crisis of 1997–98 triggered new regional cooperation initiatives, more recently several Asian political leaders have formulated proposals for the creation of a regional economic community, suggesting the possible start of a top-down approach. Based on the results of a survey of Asia’s opinion leaders conducted by the Asian Development Bank (ADB) in 2010, this paper discusses how Asia’s institutional architecture for economic and financial integration is taking shape, suggesting the need to strengthen existing institutions that promote Asian regionalism and to create new ones.

Suggested Citation

  • Giovanni Capannelli, 2011. "Institutions for Economic and Financial Integration in Asia: Trends and Prospects," ADBI Working Papers 308, Asian Development Bank Institute.
    • Handle: RePEc:ris:adbiwp:0308
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    References listed on IDEAS

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    Cited by:

    1. Aalto, Pami, 2014. "Energy market integration and regional institutions in east Asia," Energy Policy, Elsevier, vol. 74(C), pages 91-100.
    2. Giovanni Capannelli & See Seng Tan, 2012. "Institutions for Asian Integration: Innovation and Reform," ADBI Working Papers 375, Asian Development Bank Institute.
    3. Abhijit Sen Gupta, 2012. "Exchange Rate Coordination in Asia : Evidence using the Asian Currency Unit," Governance Working Papers 23321, East Asian Bureau of Economic Research.
    4. Fithra Faisal Hastiadi, 2011. "The determinants of east asian regionalism," Revista Finanzas y Politica Economica, Universidad Católica de Colombia, vol. 3(2), pages 13-26.
    5. Gregory Chin, 2012. "Responding to the Global Financial Crisis: The Evolution of Asian Regionalism and Economic Globalization," ADBI Working Papers 343, Asian Development Bank Institute.

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    Keywords

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    JEL classification:

    • F15 - International Economics - - Trade - - - Economic Integration
    • F36 - International Economics - - International Finance - - - Financial Aspects of Economic Integration
    • F55 - International Economics - - International Relations, National Security, and International Political Economy - - - International Institutional Arrangements
    • H87 - Public Economics - - Miscellaneous Issues - - - International Fiscal Issues; International Public Goods
    • O53 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - Asia including Middle East

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