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...

A salient feature of the East Asian region is the persistent discrepancy between the progress in de facto and de jure economic integration. East Asia has long been said to be the champion of loose regional economic integration, with deepening intra-regional trade and investment linkages in the...