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 now starting to lead to a synchronization of business cycles in a selected … group of countries, further enhancing the case for monetary integration among these countries. The paper also outlines a …

In this paper, we investigate the degree of real economic interdependence between emerging Asia and major industrial … countries to shed light on the heated debate over the "decoupling" of emerging Asia. We first document the evolution of …, the reverse is also true. Output shocks from emerging Asia (and the People's Republic of China [PRC]) have a significant …