This article argues that the global financial crisis has weakened institutional support for financial liberalization in regional trade agreements and increased transaction costs in the financial services sector. Due to the lack of cooperation among international economic organizations, regional...

With the revival of global economy, the issues of "exit policies" and rebalancing global growth have taken center stage in policy discussions. Since many emerging Asian economies presently have large current account surpluses, the issue of rebalancing has special significance for Asia. While...