Financial Integration in Asia: Recent Developments and Next Steps

Cowen, David; Salgado, Ranil; Shah, Hemant C.; Teo, Leslie; Zanello, A.

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Financial Integration in Asia: Recent Developments and Next Steps

IMF Working Paper No. 06/196

61 Pages Posted: 3 Oct 2006

See all articles by David Cowen

Ranil Salgado

International Monetary Fund (IMF) - Research Department

A. Zanello

International Monetary Fund (IMF)

Date Written: August 2006

Abstract

This Working Paper brings together three papers prepared as background for discussions at the Second High-Level Conference on Asian Integration cohosted by the Monetary Authority of Singapore and the IMF on May 25, 2006. The first documents recent trends in the intraregional flow of goods and capital and explores linkages between real and financial integration. The second focuses on the institutional and regulatory reforms needed to reap the benefits - and contain the risks - of financial integration in Asia. The third considers the implications of economic integration for the choice of the exchange rate regime and the conduct of macroeconomic policies.

Keywords: Globalization, Regional Integration, Asia

JEL Classification: F15, F30, G15, G20, D53

Suggested Citation: Suggested Citation

Cowen, David and Salgado, Ranil and Shah, Hemant C. and Teo, Leslie and Zanello, A., Financial Integration in Asia: Recent Developments and Next Steps (August 2006). IMF Working Paper No. 06/196, Available at SSRN: https://ssrn.com/abstract=934455