Towards Monetary And Financial Integration In East Asia
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Towards Monetary And Financial Integration In East Asia
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Author : Koichi Hamada
language : en
Publisher: Edward Elgar Publishing
Release Date : 2009-01-01
Towards Monetary And Financial Integration In East Asia written by Koichi Hamada and has been published by Edward Elgar Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2009-01-01 with Business & Economics categories.
Towards Monetary and Financial Integration in East Asia is an important book. East Asia, led by China, has been and will continue to be the largest, most rapidly growing region in the world. Major global imbalances persist, with East Asia in large surplus. Yet East Asian financial and monetary integration is only in the early stages of what will necessarily be a long-run process. These 14 essays by different authors address, in six Parts, fundamental long-run issues and prospects. These include the development of a regional financial architecture, liquidity provision and crisis management, surveillance mechanisms, exchange rate arrangements, currency baskets, an Asian Currency Unit, and ultimately even a single currency. The implications of the rise of China and the role of Japan underlie much of these analyses. However imperfect, the EU is the dominant relevant experience for East Asian financial and monetary integration. It is important to understand, as the authors do, that it took 47 years from the EU s nascent founding to the establishment of the euro, and that economic integration has preceded political integration. This book importantly addresses such basic issues in this time frame and with an appreciation of the political economy difficulties of financial integration. Hugh Patrick, Columbia University, US The book edited by Professors Hamada, Reszat, and Volz gives a comprehensive overview of the current status and challenges of economic integration in East Asia. Monetary and financial integration in East Asia has proceeded gradually but steadily since the Asian financial crisis of 1997 98. The book is an authoritative cutting-edge collection of papers in respective topics which brings the reader to the frontier of the literature. Takatoshi Ito, University of Tokyo, Japan This indispensable book provides a comprehensive analysis of monetary and financial integration in East Asia. It assesses the steps already taken toward financial integration and brings forward different proposals for future exchange rate arrangements in what has now become the world s most dynamic region. With contributions from distinguished experts this timely book evaluates the economic and politico-economic arguments and conditions for monetary and financial integration in East Asia. It explores how and to what extent the countries of the region can integrate despite their heterogeneity and their underlying political tensions. Drawing on the European experiences, this book analyzes the economic logic of monetary and financial integration in East Asia and its political feasibility. This invaluable broad analysis will be of interest to academic researchers, students, policy-makers and professional economists working on matters of international economic cooperation, common currency areas, international open economy macroeconomics, and East Asian integration.
Monetary And Financial Integration In East Asia
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Author : Yŏng-chʻŏl Pak
language : en
Publisher: Oxford University Press
Release Date : 2010-07
Monetary And Financial Integration In East Asia written by Yŏng-chʻŏl Pak and has been published by Oxford University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2010-07 with Business & Economics categories.
The book analyses the Asian experience from both Asian and European perspectives.
Financial Deregulation And Integration In East Asia
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Author : Takatoshi Ito
language : en
Publisher: University of Chicago Press
Release Date : 2007-12-01
Financial Deregulation And Integration In East Asia written by Takatoshi Ito and has been published by University of Chicago Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2007-12-01 with Business & Economics categories.
The increased mobility and volume of international capital flows is a striking trend in international finance. While countries worldwide have engaged in financial deregulation, nowhere is this pattern more pronounced than in East Asia, where it has affected in unanticipated ways the behavior of exchange rates, interest rates, and capital flows. In these thirteen essays, American and Asian scholars analyze the effects of financial deregulation and integration on East Asian markets. Topics covered include the roles of the United States and Japan in trading with Asian countries, macroeconomic policy implications of export-led growth in Korea and Taiwan, the effects of foreign direct investment in China, and the impact of financial liberalization in Japan, Korea, and Singapore. Demonstrating the complexity of financial deregulation and the challenges it poses for policy makers, this volume provides an excellent picture of the overall status of East Asian financial markets for scholars in international finance and Asian economic development.
International Economic Integration And Asia
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Author : Michael G. Plummer
language : en
Publisher: World Scientific
Release Date : 2006
International Economic Integration And Asia written by Michael G. Plummer and has been published by World Scientific this book supported file pdf, txt, epub, kindle and other format this book has been release on 2006 with Business & Economics categories.
Regional economic integration has become a key force in international commercial policy in the 2000s. Europe has traditionally embraced regionalism; the United States became actively involved in preferential trading arrangements only in the 1980s. While Asia has been late in accepting formal regional economic integration accords, all Asian countries are now in the process of creating various free-trade areas and other forms of economic integration programs, and some are already in place. This volume analyzes the regionalism trend from an Asian perspective. It considers the lessons from, and the economic implications of, various economic integration programs in the OECD (mostly the EU but also NAFTA), as well as the proposals for closer economic integration in the region itself. Chapters deal with both real and financial integration issues.
Economic Integration In Asia
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Author : Deeparghya Mukherjee
language : en
Publisher: Routledge
Release Date : 2020-09-30
Economic Integration In Asia written by Deeparghya Mukherjee and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2020-09-30 with categories.
The Regional Comprehensive Economic Partnership (RCEP) aims to achieve greater integration between the ASEAN region and its six free trade agreement (FTA) partners (India, China, Japan, Australia, New Zealand and Korea). The RCEP is the only agreement to include three economies which are among the seven biggest economies of the world--China, Japan and India. The book opens with an introduction to the current status of economic integration and factors that would affect it and looks at key issues like non-tariff barriers, evolving investment regulations in China (in the context of FTAs), connectivity initiatives to integrate the region, rules of origin in the context of value chain integration in selected sectors as well as region-specific aspects of South Asia and South East Asia which would shape the regional economic architecture going forward. With an attempt to cover key imperatives, the book concludes by noting primary impediments to easier trade and investment flows in the region, highlighting possible policy recommendations to improve economic integration.
Asia In The Global Economy Finance Trade And Investment
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Author : Ramkishen S Rajan
language : en
Publisher: World Scientific
Release Date : 2008-01-03
Asia In The Global Economy Finance Trade And Investment written by Ramkishen S Rajan and has been published by World Scientific this book supported file pdf, txt, epub, kindle and other format this book has been release on 2008-01-03 with Business & Economics categories.
This book consists of 20 short essays on different dimensions of international economic policy with specific (though not exclusive) focus on Asia. Topics covered include: exchange rate regimes and reserve buildup in Asia; global macroeconomic imbalances; financial sector liberalization; international capital flows to and from Asia; infrastructure financing in Asia; foreign direct investment (FDI) flows, production networks, manufacturing and outsourcing in Asia; the economic rise of China and India; and trade, financial and monetary regionalism in Asia. While the book covers important and often technical economic issues of contemporary policy relevance, it is written in a manner that is easily accessible to non-economists, including students of public policy, international affairs, international commerce and business, as well as policy-makers and interested observers.
Monetary And Financial Cooperation In East Asia
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Author : Masahiro Kawai
language : en
Publisher: OUP Oxford
Release Date : 2015-04-02
Monetary And Financial Cooperation In East Asia written by Masahiro Kawai and has been published by OUP Oxford this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015-04-02 with Business & Economics categories.
The global financial crisis and the Eurozone crisis have led to a profound rethink in East Asia about the international monetary system and regional monetary and financial integration. After the East Asian crisis of 1997, deeper regional cooperation was seen as the way to avoid reliance on the IMF and the rest of the world. Steps were taken, but they were limited because of disagreements reflecting regional rivalries. Still, integration into the global financial system and Europe's regional process were seen as objectives to be adapted to East Asia, as detailed in an overview chapter. The crises have shaken this strategy but also revealed the pre-existing deep disagreements. This book presents contributions by scholars from different countries. Each one was invited to describe the vision of their policymakers. The traidtional rivalry between China and Japan, the region's largest economies, reveals Chinese confidence into its rising power and Japanese growing doubts about its ability to weigh on the debate. For opposite reasons, both display a declining interest into regional cooperation. Korea and the ASEAN countries do not wish to choose between the regional powers but remain attached to regional cooperation and integration. They look for pragmatic solutions that recognize the value-chain characteristic of trade. Additional contributions by US and European scholars provide evaluations of the global and Eurozone crises and of their relevance for East Asian integration.
East Asian Economic Integration
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Author : Ross P. Buckley
language : en
Publisher: Edward Elgar Publishing
Release Date : 2011-01-01
East Asian Economic Integration written by Ross P. Buckley and has been published by Edward Elgar Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2011-01-01 with Business & Economics categories.
'This book offers a fascinating exploration of the contradictions of East Asian economic integration: a topic of enormous contemporary significance to observers of world political and economic affairs. The collection provides an unusually rigorous and systematic treatment of this important topic, drawing on contributions from an impressive array of experts. It will provide a valuable resource for students, scholars and other observers seeking deeper understanding of the contemporary dynamics and challenges of East Asian integration.' - Kate MacDonald, University of Melbourne, Australia 'East Asia is a crucial part of the global economy. This book analyses three key elements of East Asian economic integration: trade, investment and international finance. The authors are leading experts in their fields. Their book represents an important addition to the literature on a subject of fundamental importance both regionally and globally.' - Bradly J. Condon, ITAM, Mexico City This book analyses recent developments and likely future paths for trade and financial integration in East Asia. It suggests a more coherent, balanced way forward for regional economic integration and analyses implications for institution building in East Asia. East Asia has achieved a high degree of intra-regional trade, investment and GDP correlation, through an expanding web of free trade agreements and production networks. However, financially, most regional economies are linked more closely to North America and Europe than to each other. As trade integration has accelerated, financial and monetary integration has not kept pace. East Asian Economic Integration analyses potential reasons and remedies for this phenomenon through a multidisciplinary framework of law, politics and economics. This comprehensive book will appeal to researchers and students in political science, international relations, trade law, international finance law, and regional studies generally. It will also be of great interest to regional
Monetary And Financial Cooperation In East Asia
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Author : Masahiro Kawai
language : en
Publisher: Oxford University Press (UK)
Release Date : 2015
Monetary And Financial Cooperation In East Asia written by Masahiro Kawai and has been published by Oxford University Press (UK) this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015 with Business & Economics categories.
This edited volume evaluates the prospects for monetary and financial cooperation in East Asia after the crises in the developed countries (2008 in the US, 2010 in Europe).
Fostering Monetary Financial Cooperation In East Asia
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Author : Duck-Koo Chung
language : en
Publisher: World Scientific
Release Date : 2009
Fostering Monetary Financial Cooperation In East Asia written by Duck-Koo Chung and has been published by World Scientific this book supported file pdf, txt, epub, kindle and other format this book has been release on 2009 with Business & Economics categories.
Since the Asian financial crisis of 1997?1998, there has been a deep and abiding desire on the part of Asian policy makers and opinion makers to enhance the region's economic, monetary and financial self-sufficiency ? or at least to ring-fence the region against financial instability and give it a louder voice in global financial affairs. There has been progress in these directions, notably in the form of the Chiang Mai Initiative of financial supports and the Asian Bond Market Initiative to build a single Asian financial market. But progress is hindered by disagreements among the principal national governments ? Japan, China and South Korea ? and resistance to the development of an Asian bloc from both Europe and the United States.This volume considers these issues from a number of different national and analytical perspectives. Scholars from all the relevant regions and countries are represented: Japan, China, Korea, Europe and the United States. The treatments are rigorous, but nontechnical and accessible. While there have been a few previous books and articles concerned with the issue of Asian integration, this is one of the first volumes to successfully draw together top contributors from these different countries and regions to address the issues in a rigorous but relatively accessible way.