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Monetary and Financial Integration in East Asia - The Way Ahead: Volume 2 (Hardcover, 2003 ed.)
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Monetary and Financial Integration in East Asia - The Way Ahead: Volume 2 (Hardcover, 2003 ed.)
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Since the 1997 Asian financial crisis, countries in East Asia have
made efforts to promote regional monetary and financial cooperation
to complement the evolving international financial architecture.
This increased interest in regional monetary and financial
cooperation has resulted in several initiatives - the ASEAN
Surveillance Process, the ASEAN+3 Finance Ministers Process
including its Chiang Mai Initiative of 2000, the Manila Framework
Group and the Asia-Europe Finance Ministers Process to name a few.
These developments in some ways represent a significant break from
the past. Going forward the key challenge is how to set priorites
and sequence developments so as to smooth the path to a new
regional financial architecture. This two-volume set takes up the
issue of developing a road map of policy options, both at the
regional and country levels, for carrying forward the ongoing
efforts in monetary and financial cooperation in East Asia.
Building on a series of core reports and background papers by
eminent economists and policymakers around the world commissioned
under an ADB technical assistance project, the books explore what
is feasible and desirable in regional monetary and financial
cooperation and lays out a road map for putting the concept into
action over the next several years. Volume 1 contains an overview
by Peter Montiel, and three core studies by Olam Chaipravat, Eric
Girardin, and Takatoshi Ito and Yung-Chul Park. Volume 2 contains
background papers by Robert J. Barro; Elbliog'onore Boiscuvier and
Alfred Steinherr; Barry Eichengreen; Jeffrey A. Frankel; Eric
Girardin; Jong-Wha Lee; Yung-Chul Park and Kwanho Shin; Ronald
McKinnon; Eiji Ogawa, Takatoshi Ito, and YuriNagataki Sasaki;
Ramkishen Rajan and Reza Siregar; Yunjong Wang and Wing Thye Woo;
and Charles Wyplosz. The volumes and the study on which they were
based were conceptualized, supervised, and coordinated by Pradumna
B. Rana and Srinivasa Madhur.
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