Evolving Regional Financial Architecture in East Asia
The financial crisis and contagion revealed how closely financial systems and economic conditions were inter-connected across East Asia. Reflecting this, East Asian governments and central banks have embarked on several new initiatives for regional financial cooperation. This paper explores the background and progress of recent financial cooperation initiatives in the region, the new opportunities provided, and possible evolution of a new regional financial architecture.
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The views expressed in this paper are the views of the authors and do not necessarily reflect the views or policies of the Asian Development Bank Institute (ADBI), the Asian Development Bank (ADB), its Board of Directors, or the governments they represent. ADBI does not guarantee the accuracy of the data included in this paper and accepts no responsibility for any consequences of their use. Terminology used may not necessarily be consistent with ADB official terms.
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