Monetary and Financial Cooperation in East Asia

The State of Affairs After the Global and European Crises
Erscheinungsjahr 2015
ISBN: 978-0-19-871415-6
Verlag: Sydney University Press

Buch, Englisch, 256 Seiten, Format (B × H): 157 mm x 234 mm, Gewicht: 544 g

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.

Autoren/Hrsg.

Kawai, Masahiro

Park, Yung Chul

Wyplosz, Charles

Fachgebiete

• Wirtschaftswissenschaften Volkswirtschaftslehre Finanzkrisen, Wirtschaftskrisen
• Wirtschaftswissenschaften Volkswirtschaftslehre Volkswirtschaftslehre Allgemein Makroökonomie
• Wirtschaftswissenschaften Finanzsektor & Finanzdienstleistungen Finanzsektor & Finanzdienstleistungen: Allgemeines

Über Autor(innen)

Professor Kawai has served as Chief Economist of the World Bank's East Asia and Pacific Region and Dean of the Asian Development Bank Institute. He holds a PhD from Stanford University.

Professor Park has served as senior economic adviser to the president of Korea. He holds a PhD from the University of Minnesota.

Professor Wyplosz is a frequent consultant to international organizations and various governments. He holds a PhD from Harvard University.