1. Regional Monetary Cooperation in East Asia
- Author:
- Melissa Murphy and Wen Jin Yuan
- Publication Date:
- 11-2010
- Content Type:
- Working Paper
- Institution:
- Center for Strategic and International Studies
- Abstract:
- After a decade of negotiations revolving around regional monetary cooperation, the Association of Southeast Asian Nations (ASEAN) plus China, Japan, and South Korea (ASEAN+3) finally reached agreement to establish a regional foreign reserve pool in February 2009. The launch of the Chiang Mai Initiative Multilateralization (CMIM) came amid the global financial crisis, when the ASEAN nations hit so hard during the 1997 Asian financial crisis were once again reminded of the utility of a joint policy initiative to ensure regional financial stability.
- Topic:
- Economics, Monetary Policy, and Financial Crisis
- Political Geography:
- Israel and Asia