Central banks worldwide are stepping up actions in relation to climate change and taking on an increasingly important role in supporting the energy transition. Given the prominent role that central banks play in the financial markets and in influencing financing conditions, they can act as a...

In this paper we explore the nexus between cross-border trade integration and monetary policy. We first review the evidence that trade liberalization has increased the degree of integration in North America and conclude that, while robust structural inferences remain elusive, there is sufficient...

ASEAN leaders approved the ASEAN Vision 2020 plan which attempts to turn ASEAN into a more competitive region within the world economy. The purpose of this paper is to discuss the feasibility of monetary and financial integration among ASEAN member countries. Monetary and financial integration...

The increasing occurrence of national, regional, and global financial crises, together with their rising costs and complexity, have increased calls for greater regional and global monetary cooperation. This is particularly necessary in light of volatile capital flow movements that can quickly...

This paper considers the form of monetary policy coordination and regional exchange rate arrangement that would best support economic and financial integration in East Asia. In view of the region's economic diversity, we propose a graduated program of informal policy cooperation from weak forms...