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dc.contributor.authorPark, Yung Chulen_US
dc.contributor.authorSong, Chi-Youngen_US
dc.date.accessioned2011-10-25en_US
dc.date.accessioned2011-12-15T12:27:32Z-
dc.date.available2011-12-15T12:27:32Z-
dc.date.issued2011en_US
dc.identifier.urihttp://hdl.handle.net/10419/53717-
dc.description.abstractThe purpose of this paper is to reexamine the exchange rate policy of the Republic of Korea, and its role in promoting financial and monetary cooperation in East Asia in the wake of the 2008 global financial crisis. The Republic of Korea would not actively participate in any discussion of establishing a regional monetary and exchange rate arrangement as it is expected to maintain a weakly managed floating regime. The People's Republic of China (PRC) has been fostering the yuan as an international currency, which will lay the groundwork for forming a yuan area among the PRC; the Association of Southeast Asian Nations (ASEAN); Hong Kong, China; the PRC; and Taipei, China. Japan has shown less interest in assuming a greater role in East Asia's economic integration due to deflation, a strong yen, slow growth, and political instability. Japan would not eschew free floating. These recent developments demand a new modality of monetary cooperation among the Republic of Korea, Japan, and the PRC. Otherwise, ASEAN+3 will lose its rationale for steering regional economic integration in East Asia.en_US
dc.language.isoengen_US
dc.publisherAsian Development Bank Institute Tokyoen_US
dc.relation.ispartofseriesADBI working paper series 314en_US
dc.subject.jelF3en_US
dc.subject.jelF4en_US
dc.subject.ddc330en_US
dc.subject.stwFinanzmarktkriseen_US
dc.subject.stwFlexibler Wechselkursen_US
dc.subject.stwSüdkoreaen_US
dc.subject.stwHandelsregionalismusen_US
dc.subject.stwInternationale wirtschaftspolitische Koordinationen_US
dc.subject.stwWechselkurspolitiken_US
dc.subject.stwOstasienen_US
dc.titleProspects for monetary cooperation in East Asiaen_US
dc.typeWorking Paperen_US
dc.identifier.ppn670485675en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen_US
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