Remittances to Asia plunged during the 1997 Asian financial crisis, but the drop was temporary as the flows were increasing once again after just 1 year. The current crisis, however, is fundamentally different in that even the countries that send remittances have been adversely affected. The...

Despite a commonplace view that Asian regionalism lacks institutions, Asia, in fact, is full of regional institutions and frameworks in various forms. The rise and fall of regional institutions in Asia is an extremely dynamic process. Using a game theory approach, this paper hypothesizes that...

A common view holds that the trend toward Asian financial regionalism is a relatively new phenomenon that became significant after the Asian financial crisis of 1997/98. This paper challenges this view by exploring and analyzing financial regionalist projects in Asia throughout the 1990s. As...

The paper argues that East Asian regionalism is fragile because (i) each nation's industrial competitiveness depends on the smooth functioning of "Factory Asia" - in particular for intraregional trade; (ii) the unilateral tariff-cutting that created Factory Asia is not subject to WTO discipline...