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The financial crisis in Europe has resulted in a new assessment of monetary and financial integration both in Europe and in Asia. Before the current crisis, regional integration in monetary and fiscal affairs including mechanisms to stabilize exchange rates enjoyed a lot of academic and...
Persistent link: https://www.econbiz.de/10010367480
The global economy has experienced considerable turbulence since 2007. The financial crisis has been viewed as the trigger for a prolonged period of economic decline. This decline remains an issue for all member states of the European Union, the eurozone and beyond. We argue genesis of this...
Persistent link: https://www.econbiz.de/10013012880
recent major crises, of the legal framework governing the European Economic and Monetary Union (EMU), as well as current … of the EMU.The following Section II (“The Impact of the Three Major Crises During the Period 2007-2021”) develops on how …
Persistent link: https://www.econbiz.de/10014077291
Along time the European Union (EU) has been pointed as the most succeeded example of regional integration. Now, this … solution, and the recurrent EU proclamations of "policies to restore European growth", the crisis in the EZ looks more and more … credibility of the EU integration process and will inevitably impact on the spreading of the integration model to other regions of …
Persistent link: https://www.econbiz.de/10011515832
This paper discusses two pertinent policy issues dealing with the global liquidity crisis - global prudential regulation reform, and reassessment of using international reserves in the crisis. We point out the paradox of prudential regulations while the identity of economic actors that benefited...
Persistent link: https://www.econbiz.de/10003854579
This paper discusses two pertinent policy issues dealing with the global liquidity crisis - global prudential regulation reform, and reassessment of using international reserves in the crisis. We point out the paradox of prudential regulations – while the identity of economic actors that...
Persistent link: https://www.econbiz.de/10003840201
How much can regional monitoring of financial markets and coordination of financial sector policies contribute to preventing and mitigating financial crises? This paper reviews and compares the experiences of Europe and Asia, which have taken different routes and have achieved different levels...
Persistent link: https://www.econbiz.de/10003982941
Nach den Finanzkrisen der 1990er Jahre haben sich in Asien und Lateinamerika Formen eines monetären Regionalismus (mR) herausgebildet, die das gemeinsame Ziel verfolgen, die eigene Region vor zukünftigen Finanzkrisen zu schützen. Dabei fallen wesentliche Unterschiede im Vorankommen der beiden...
Persistent link: https://www.econbiz.de/10003982942
This paper examines the evolving dynamics between economic globalization and Asian regional interdependence, and asks whether and how the global financial crisis impacted Asian regionalism. The analysis suggests that the global crisis did trigger advances in regional policy cooperation from 2007...
Persistent link: https://www.econbiz.de/10009487445
To the extent that financial contagion from the United States and the euro area crisis has occurred in Asia, this paper focuses on the importance of strengthening the regional financial safety nets. By conjecturing that efforts to prevent and manage a crisis are the essence of providing such...
Persistent link: https://www.econbiz.de/10009714528