Regional monitoring of capital flows and coordination of financial regulation: Stakes and options for Asia

Arbeitspapier

The ongoing global economic crisis has punished Asian economies severely, despite the fact that its origins derive from outside the region. The global economic crisis was transmitted through real and financial channels, underscoring how vulnerable the region is to external shocks. This paper explores the microeconomic origins of the financial crisis and endeavors to ascertain how crises might be mitigated in the future through better regulation, supervision, and institution-building. Moreover, it makes the case for closer economic cooperation in order to internalize key externalities associated with modern global finance. This cooperation, in turn, should take place at the appropriate level, with incentives for cooperation at the global, regional, and subregional levels. It explores the potential for the creation of an Asian Financial Stability Board and deepening other initiatives in Association of Southeast Asian Nations (ASEAN)+3 and ASEAN forums. However, it stresses that the most important financial reforms in Asia will need to take place at the national level.

Object Details

• Language: Englisch

References and Relationships

• Bibliographic citation: Series: ADBI Working Paper ; No. 201

Classification and Topics

• Classification: Wirtschaft ; Financial Institutions and Services: Government Policy and Regulation ; Financial Aspects of Economic Integration ; International Monetary Arrangements and Institutions
• Subject: Finanzmarktkrise ; Kapitalmarktliberalisierung ; Regulierung ; Aufsichtsbehörde ; Institutionelle Infrastruktur ; Internationale wirtschaftspolitische Koordination ; ASEAN-Staaten

Contributors, Places and Time

• Event: Geistige Schöpfung
• (who): Plummer, Michael G.
• Event: Veröffentlichung
• (who): Asian Development Bank Institute (ADBI)
• (where): Tokyo
• (when): 2010

Further information

• Handle: http://hdl.handle.net/10419/53704
• Last update: 10.03.2025, 11:43 AM CET