In the context of the low levels of regional cooperation among South Asian countries when compared with the successful results from cooperation in East Asia (consisting of South East and East Asian countries), the objective of this paper is first to assess the prospects of cooperation among...

This paper reviews trends in East Asian regionalism in the areas of trade and investment, money and finance, and infrastructure. It presents various measures of trade and financial integration. An important finding of the paper is that increasing trade and financial integration in the region is...

The paper uses the emerging Association of Southeast Asian Nations (ASEAN) Economic Community as a motivation to explore the issue of capital flow management in an economic community. Although there is an increasingly shared view that capital flow management measures should be part of the...

Along with the steady pace of RMB internationalization, this paper proposes Taiwan as a potential candidate to become the next RMB offshore center. We review the main drivers behind Hong Kong's success and set the reasons why Taiwan could follow such steps. First, Taiwan's economic ties with...

Three main features characterize the international financial integration of China and India. First, while only having a small global share of privately-held external assets and liabilities (with the exception of China's FDI liabilities), these countries are large holders of official reserves....

This paper examines if exchange rate flexibility adversely affects trade integration of East Asian countries in general. The study focuses on China, Japan, South Korea and Taiwan. These countries pursue fixed, floating and intermediate regimes respectively. The hypothesis is that since the...

The resultant backlash is accelerating monetary dialogue among the BRICS countries through their common financial institutions (BRICS NDB, BRICS CRA) in the rise of protectionism, current account imbalances, currency mismatches, mounting strains on national banks, increasing external shocks on...

This paper focused on the role of BRICS (Brazil, Russia, India, China and South Africa) as emerging protagonist in international development and India’s cooperation is significantly and rapidly changing. Over the last decade, BRICS have increased their financial as well as technical assistance...

Forced by the 1997 Southeast Asian crisis to recognize the external vulnerabilities that openness to volatile capital flows result in and upset over the post-crisis policy responses imposed by the IMF, countries in the sub-region saw the need for a regional financial safety net that can pre-empt...

This paper examines the impact of European Economic and Monetary Union (EMU) on trade within the euro area. Using panel data for 22 industrial countries, the analysis estimates the effect of the euro`s arrival on area-wide trade compared to bilateral trade flows between other industrial...