Monetary Integration Ahead of Trade Integration in East Asia?

30 Pages Posted: 23 Jun 2003

See all articles by Kwanho Shin

Kwanho Shin

Korea University

Yunjong Wang

SK Research Institute - Seoul Finance Center

Date Written: March 2003

Abstract

Regionalism is taking two forms. It is occurring firstly through free trade arrangements and secondly through monetary arrangements. In this paper, we highlight the issues related to the reversal of sequence between trade integration (free trade agreement) and monetary integration (a monetary union). While the Euro area pursued trade integration first, from a theoretical point of view, there is no clear reason for introducing trade integration ahead of monetary integration. On the contrary we point out many good reasons for forming a monetary union before a free trade agreement.

Keywords: union, monetary integration, free trade agreement

JEL Classification: E32, F36, F41

Suggested Citation

Shin, Kwanho and Wang, Yunjong, Monetary Integration Ahead of Trade Integration in East Asia? (March 2003). Available at SSRN: https://ssrn.com/abstract=396281 or http://dx.doi.org/10.2139/ssrn.396281

Kwanho Shin (Contact Author)

Korea University ( email )

1 Anam-dong 5 ka
Sunbuk-Ku, Department of Economics
Seoul 136-701
Korea
82-2-3290-2220 (Phone)
82-2-3290-2719 (Fax)

HOME PAGE: econ.korea.ac.kr/~khshin

Yunjong Wang

SK Research Institute - Seoul Finance Center ( email )

Seoul
Korea

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