This paper analyzes the patterns and determinants of financial integration in East Asia by using the data set of cross-border holdings of financial assets such as equity portfolio, long-term and short-term debt securities, and bank claims. Empirical analysis based on the gravity model of...

Rising economic integration in Asia and periodic volatility in global and national financial markets raise the issue of the optimal degree and form of monetary cooperation among Asian economies. There is a large literature on the benefits and costs of monetary cooperation, however, less can be...

Regional economic integration is both a deregulatory project, involving the removal of barriers to the movement of goods and services, as well as a re-regulatory project, involving the adoption of common economic, social, and environmental standards to enable the market to function. The removal...

Regionalism and regional integration in East Asia has developed dynamically at various levels over the past two decades. In the world system, East Asia‘s degree of regional economic coherence is second only to the European Union‘s. In addition to deepening micro-level regionalisation, new...

This paper compares the economic integration processes of the European Union and the East Asian nations and comments on the possible reciprocal lessons, if any, that can be drawn in order to smooth the future paths of the two groups. On the EU side, institutions, structural policies, and the...

This paper examines the unfolding of the US subprime-generated turmoil and its potential spillover on emerging Asia's financial systems. The subprime mortgage mess has revealed key structural weaknesses in the evolution of modern credit markets. While emerging Asian financial markets have thus...

"This paper surveys the growing literature on monetary cooperation in East Asia that goes beyond the Chiang Mai Initiative. It compares and contrasts the various proposals for cooperation such as the Williamson basket peg, the Asian monetary system, and the yen block as to their crisis...