Integration? What Integration?

in Francoise Nicolas (ed): Korea in the New Asia. East Asian Integration and the China Factor, London and New York: Routledge, 69-92.

Posted: 13 Mar 2006 Last revised: 28 Aug 2012

See all articles by Ulrich Volz

Ulrich Volz

University of London - School of Oriental and African Studies (SOAS) - Economics; Deutsches Institut für Entwicklungspolitik (DIE) - German Development Institute (DIE)

Date Written: April 15, 2009

Abstract

Two central questions arise when discussing financial integration in East Asia: First, what form of integration is to be achieved? And second, who are the players in the integration process and which country(ies) assume(s) the leadership role(s)? This paper asserts that one field in which the direction of East Asian financial integration could be decided is exchange rate policy. In particular, the paper investigates the possibility that China gradually evolves as the centre of an (informal) East Asian yuan bloc. This could make China the key player in any form of regional co-operation/integration effort, leaving Japan out in the cold, while Korea could still play some kind of mediator or honest broker role between China and the ASEAN countries.

Keywords: East Asia, monetary and financial integration

JEL Classification: F15, F33, F42

Suggested Citation

Volz, Ulrich, Integration? What Integration? (April 15, 2009). in Francoise Nicolas (ed): Korea in the New Asia. East Asian Integration and the China Factor, London and New York: Routledge, 69-92.. Available at SSRN: https://ssrn.com/abstract=888541

Ulrich Volz (Contact Author)

University of London - School of Oriental and African Studies (SOAS) - Economics

London, WC1E 7HU
United Kingdom

Deutsches Institut für Entwicklungspolitik (DIE) - German Development Institute (DIE) ( email )

Tulpenfeld 4
Bonn, 53113
Germany

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