inherent in the current global financial system. Asia was adversely affected by the crisis not only because of its dependence … on trade, but also because of its heavy reliance on the US dollar for regional and international transactions. As Asia … vulnerability. As demonstrated by the renminbi trade settlement scheme piloted between the People's Republic of China; Hong Kong …

In this paper we try to address the question of what could help make the renminbi a reserve currency. In recent years …-track strategy: promotion of the use of the renminbi in the settlement of cross-border trade and investment, and liberalization of … renminbi in global reserves could reach 12%. However, if institutional and market variables are included, the predicted share …

currencies seem to matter for exchange rate determination in Asia beyond the very short term. To this end, we employ country …

for East Asia's financial cooperation, including: (i) regional economic surveillance led by the Economic Review and Policy …

mediating role for regional-level institutions of financial regulation between national regulators in Asia and global … Asia in regional financial cooperation and regulation and draws lessons for Asia. The EU represents the most advanced stage … of regional financial integration and regulation in the world today, and can provide valuable lessons for Asia. Asia …

This study describes the development of regional financial arrangements in Asia and Europe, assesses their effects on … financial stability, and draws lessons for Asia from European experience. One of its main conclusions is that Asia needs to …

Monetary policy frameworks in the Asia and Pacific region have performed well in the past decade as judged by inflation …