An Asian Monetary Fund in the Making?

Stanford Center on International Development Working Paper No. 378

36 Pages Posted: 24 May 2013 Last revised: 27 Jun 2013

See all articles by John Ciorciari

John Ciorciari

University of Michigan at Ann Arbor - Gerald R. Ford School of Public Policy

Date Written: January 21, 2009

Abstract

This paper examines the pooled regional financial mechanism created in East Asia pursuant to the ASEAN 3 Chiang Mai Initiative. It examines the origins of the new facility and discusses the near-term challenges that its architects will face in creating a credible and effective mechanism for delivering liquidity support. It argues that although technical hurdles exist, the most important impediments involve political contestation among member states and the need for the fund to interact constructively with markets and external players, including the IMF.

Keywords: Chiang Mai Initiative, ASEAN 3, international finance, International Monetary Fund

Suggested Citation

Ciorciari, John, An Asian Monetary Fund in the Making? (January 21, 2009). Stanford Center on International Development Working Paper No. 378, Available at SSRN: https://ssrn.com/abstract=2269297 or http://dx.doi.org/10.2139/ssrn.2269297

John Ciorciari (Contact Author)

University of Michigan at Ann Arbor - Gerald R. Ford School of Public Policy ( email )

735 South State Street, Weill Hall
Ann Arbor, MI 48109
United States

HOME PAGE: http://www-personal.umich.edu/~johncior/

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