"The shape of economic integration in the global and regional economies--and the extent to which goods, services and factors of production move more or less freely across borders--depends not only upon underlying economic conditions but also upon politics. Whether integration is market-led, as...

This paper analyzes detailed differences in patterns of financial development across the major Asian economies, including three of the region's largest economies (China, Japan and South Korea), to understand how these differences might affect possibilities for greater regional financial...