The 18 members of the Asia-Pacific Economic Cooperation Council (APEC) encompass not only a wide geographic area but also broad differences in stages of economic development, including among them some of the fastest- growing economies in the world. Such rapid growth has been ficilitated by high...

Regional monetary and financial cooperation in Asia has been discussed for years. To move towards a coordinated exchange rate policy, Ogawa and Shimizu (2005) proposed both an Asian Monetary Unit (AMU), which is a common currency basket computed as a weighted average of the thirteen ASEAN+3...