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...

The financial crises of the late 1990s have marked a watershed for the global economy and for regionalism. Prior to these crises, deregulation and liberalisation, in particular of financial markets, enjoyed widespread support. On the other hand, regional integration was aimed at improving...