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Monetary and Financial Integration in East Asia: The Relevance of European Experience

Monetary and Financial Integration in East Asia: The Relevance of European Experience

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  • Yung Chul Park
  • OUP Oxford
  • Hardcover
  • 9780199587124
  • 8.5 X 5.5 X 0.7 inches
  • 0.79 pounds
  • Business & Economics > International - Economics & Trade
  • English
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Book Description

This book looks at East Asia's monetary and financial integration from both Asian and European perspectives. It analyzes the Euro area's framework for monetary policy implementation, introduced in 1999. It reviews the efforts to foster regional monetary and financial integration and relates them to Europe's own evolution. It highlights successes and failures in both cases and offers a careful assessment of the state of play. A central theme of the volume is that the East Asian reliance on markets is not enough to promote the kind of deep integration that Europe has achieved and that provides protection against exchange rate turbulence. The implications of the recent global crisis are also examined.

Written by two of the foremost monetary experts on Asia and Europe, this book will be an invaluable aid to students and academics interested in the relevance of the European experience to the debates about monetary integration in East Asia.

Monetary and Financial Integration in East Asia: The Relevance of European Experience

Author Bio

Yung Chul Park is currently a Professor in the Division of International Studies, Korea University. He was a Professor of Economics at Korea University from 1976 to 2005 and Research Professor at Graduate School of International Studies, Seoul National University from 2005 to 2008. Previously he served as the Chief Economic Adviser to the President of Korea, as President of the Korea Development Institute, and as President of the Korea Institute of Finance. 

He also worked for the International Monetary Fund. His main research areas include financial development and liberalization and regional monetary and financial integration. He has published as author or editor several books including Financial Liberalization and Economic Development in Korea, 1980-2020 (co-authored with J.K. Kim and H. Park, Harvard University Asia Center, 2021).

 

 

 

Source: Vox EU CEPR 

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