| ID | 083529 |
| Title Proper | ASEAN and the emerging monetary regionalism |
| Other Title Information | a case of limited contribution |
| Language | ENG |
| Author | Dieter, Heribert |
| Publication | 2008. |
| Summary / Abstract (Note) | Monetary regionalism - along with bilateral trade agreements - is receiving significant attention in Asia. This article analyzes its development since 2000 with specific reference to the role of ASEAN. It discusses the general rationale for monetary and financial cooperation, the Chiang Mai process, the rivalry between China and Japan, the potential exchange rate regime for the region including monitoring and surveillance, the evolution of regional bond markets, as well as the institutional dimension of monetary regionalism. The analysis confirms that monetary regionalism in Asia will be a complex endeavor and will - if at all - only be achieved in the long run. ASEAN will be able to function as a catalyst for monetary regionalism, but China and Japan are the more important players. Without their (joint) effort, ASEAN will not be able to achieve significant change in monetary and financial affairs. |
| `In' analytical Note | Pacific Review Vol. 21, No.4; Sep 2008: p489-506 |
| Journal Source | Pacific Review Vol. 21, No.4; Sep 2008: p489-506 |
| Key Words | Monetary Regionalism ; ASEAN ; Chiang Mai Initiative ; China ; Japan |