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Diane Publishing Books
Monetary Cooperation in East Asia: A Survey
Raul Fabella (au). Surveys the growing literature on monetary cooperation in East Asia (EA) that goes beyond the Chiang Mai Initiative. It compares & contrasts the various proposals for cooperation such as the Williamson basket peg, the Asian monetary system, & the yen block as to their crisis prevention impact & their feasibility, both economic & political. Also reviews the evidence on the readiness of EA & some of its proper subsets for a currency union in the light of experiences elsewhere, especially of European monetary cooperation. Chapters: currency unions & the European Monetary Union; current exchange rate regime & monetary cooperation in EA; proposals for monetary & exchange rate cooperation in EA; & costs & benefits of a monetary union in EA.
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