Institutions for Economic and Financial Integration in Asia: Trends and Prospects

Giovanni Capannelli
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Giovanni Capannelli: Asian Development Bank Institute

No 308, ADBI Working Papers from Asian Development Bank Institute

Abstract: Asian economic regionalism has emerged from a bottom-up process, driven by market forces in the absence of a grand plan for regional integration. While the financial crisis of 1997–98 triggered new regional cooperation initiatives, more recently several Asian political leaders have formulated proposals for the creation of a regional economic community, suggesting the possible start of a top-down approach. Based on the results of a survey of Asia’s opinion leaders conducted by the Asian Development Bank (ADB) in 2010, this paper discusses how Asia’s institutional architecture for economic and financial integration is taking shape, suggesting the need to strengthen existing institutions that promote Asian regionalism and to create new ones.

Keywords: chiang mai initiative; economic cooperation; regional integration (search for similar items in EconPapers)
JEL-codes: F15 F36 F55 H87 O53 (search for similar items in EconPapers)
Pages: 28 pages
Date: 2011-09-07
New Economics Papers: this item is included in nep-cwa and nep-sea
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Citations: View citations in EconPapers (5)

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