This paper shows that regional trade integration shifts the burden of the exchange rate adjustment towards the less integrated trading partners. Thus, they bear the cost of trade balance expansion, while competitive exchange rate moves vis-a-vis RTA trading partners result in no expansion or...

This paper reviews the creation and evolution of the European Economic Monetary Union (EEMU) and discusses the insights and perspectives of the key lessons for Asian economic integration utilizing an extensive review of the literature method. In order to implement a common monetary and economic...

This paper examines whether the renminbi (RMB) has supplanted the US dollar as the major anchor currency in the currency baskets of East Asian economies. First, we systematically demonstrate that existing techniques to address the problem of severe multicollinearity in estimations of the...

Employing the panel convergence method of Phillips and Sul (2007) to the nominal deviation indicators of two recent unofficial constructions of the Asian Currency Unit (ACU) index, this paper examines the existence and extent of convergence in the movements of East Asian currencies against the...

Connectivity is the key building block of convergence and cohesion in any regional integration initiative. Development of connectivity across any region - especially of transportation linkages, energy pipelines, and information and communication technology - contributes to integration by...

Galvanized by the devastation of the Second World War, European countries achieved a historically unprecedented and unparalleled level of regional economic integration in the postwar period. Intensive cooperation between the two biggest powers of continental Western Europe, France, and Germany,...

Covering major Asian economic blocs and dialogues, this study comprehensively reviews the true progress of "Asian" economic integration in comparison with the European Union (EU) and examines the factors contributing to the integration. The results show that comprehensive continent-wide economic...

Energy security affects national security as well as the availability, extraction, and utilization of natural resources like water, agriculture land, and mining resources. Therefore, energy security is a nation's ability to meet the energy needs of its inhabitants uninterruptedly at an...

The nexus of the modes of financing, trade, and transport-related infrastructure, quantum of trade activities, and economic growth is the core area of this paper. It covers the impacts of regional economic integration of Central Asia Regional Economic Cooperation (CAREC) member countries on...

This paper presents three approaches to the evaluation of cross-border transport infrastructure in the Greater Mekong Subregion (GMS). First, it estimates benefit-cost ratios for selected segments of economic corridors. The results indicate differing degrees of economic viability among different...