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dc.contributor.authorPark, Yung Chulen_US
dc.date.accessioned2011-07-12en_US
dc.date.accessioned2011-12-15T12:27:45Z-
dc.date.available2011-12-15T12:27:45Z-
dc.date.issued2011en_US
dc.identifier.urihttp://hdl.handle.net/10419/53732-
dc.description.abstractThe decoupling of East Asia from its economic interactions - both in trade and finance - with the rest of the world refers to the phenomenon of a weakening of the impact of demand and supply shocks emanating from the advanced countries on the region's economic performance since the early 1990s. Available empirical evidence, including the faster recovery of East Asia from the 2008 global economic crisis, does not appear to lend credence to the decoupling thesis. However, with increases in income throughout the region and the three free trade agreements (FTAs) of the People's Republic of China (PRC), Japan, and Korea with the Association of Southeast Asian Nations (ASEAN) (which have entered into force), East Asia will witness a continuing expansion in intra-regional trade, much of which will consist of horizontal intra-industry trade. At the same time, if East Asia succeeds in instituting an efficient capital control regime and in strengthening the Chiang Mai Initiative Multilateralization (CMIM), it will be able to cope better with the volatility of capital flows to the region. Together these developments will then help speed up economic integration among ASEAN+3 member states to build a region that is more self-contained than it has been.en_US
dc.language.isoengen_US
dc.publisherAsian Development Bank Institute Tokyoen_US
dc.relation.ispartofseriesADBI working paper series 289en_US
dc.subject.jelE32en_US
dc.subject.jelF15en_US
dc.subject.jelR11en_US
dc.subject.ddc330en_US
dc.subject.stwFinanzmarktkriseen_US
dc.subject.stwMakroökonomischer Einflussen_US
dc.subject.stwInternationale Wirtschaftsbeziehungenen_US
dc.subject.stwWirtschaftliche Anpassungen_US
dc.subject.stwHandelsregionalismusen_US
dc.subject.stwKapitalverkehrspolitiken_US
dc.subject.stwOstasienen_US
dc.titleThe global financial crisis: Decoupling of East Asia - myth or reality?en_US
dc.typeWorking Paperen_US
dc.identifier.ppn663992400en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen_US
Appears in Collections:ADBI Working Paper Series, Asian Development Bank Institute

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