East Asian Currency and Financial Integration---Development Prospects

Author: Asian Development Bank
Publisher:
Publish Date: 2005-06-12
Features:
"Better participation in promoting East Asian financial cooperation requires us to develop China's own guiding theories and ideas based on." — Li Yong, Vice Minister of Finance
"This book explores the necessity and feasibility of regional currency and financial cooperation, outlining a roadmap for implementing this concept in the coming years." — Kiyoshi Kojima, President of the Asian Development Bank
The main content of this book consists of core research reports and background papers from the Asian Development Bank's "East Asian Currency and Financial Cooperation Project," authored by prominent economists and government officials from around the world. These preliminary research findings represent a significant contribution by the Asian Development Bank to the Kobe Research Project and were introduced at the July 2002 Asia-Europe Finance Ministers' Meeting. The book provides a comprehensive overview of East Asian currency and financial cooperation, presents various viewpoints on key issues, and conducts an in-depth analysis of the necessity and feasibility of such cooperation by comparing the European Union's monetary integration process. It also outlines the prospects and roadmap for cooperation in the coming years. Additionally, the book specifically examines core issues in East Asian currency and financial cooperation, including regional information exchange and policy dialogue, the "Chiang Mai Initiative," the pooling of regional foreign exchange reserves, regional exchange rate policy coordination, and the selection of exchange rate mechanisms.