This paper explores the potential for regional cooperation between Latin America and the Caribbean, and Asia Pacific. The first section provides an overview of regionalism and how it evolved as a strategy to manage regional externalities. The second section provides a background on Asian...

The paper summarizes the similarities and differences among Asian and Latin American countries, compares their macroeconomic performances before and after the crisis, and discusses crisis prevention and management. Lessons are drawn from both Asian-type and Latin-American-type currency crises.

The paper looks at the relative importance of reforms in different regions and corresponding trade performance.