Print page

Asian Regionalism in the World Economy

Engine for Dynamism and Stability Edited by Masahiro Kawai, Project Professor, Graduate School of Public Policy, The University of Tokyo, Japan, Jong-Wha Lee, Professor, Economics Department, Korea University, Republic of Korea, Peter A. Petri, East–West Center, US and Giovanni Capannelli, Principal Economist and Senior Research Fellow, Asian Development Bank Institute, Japan
The structure and policy architecture of the world economy, as it emerges from the historic challenges now underway, will be affected by the dramatic rise of Asian economies and deepening connections among them. This important book examines the rapid transformation of the Asian economy, the challenges it faces, emerging regional solutions, and how Asia can play a more constructive role in the global economy.
In Association with the Asian Development Bank
Extent: 544 pp
Hardback Price: $197.00 Web: $177.30
Publication Date: 2011
ISBN: 978 1 84844 854 4
Availability: In Stock
$0.00

Buy the E-Book @ paperback price

Join our mailing list

  • Asian Studies
  • Asian Development
  • Asian Economics
  • Development Studies
  • Asian Development
  • Development Economics
  • Development Studies
  • Economics and Finance
  • Asian Economics
  • Development Economics
The structure and policy architecture of the world economy, as it emerges from the historic challenges now underway, will be affected by the dramatic rise of Asian economies and deepening connections among them. This important book examines the rapid transformation of the Asian economy, the challenges it faces, emerging regional solutions, and how Asia can play a more constructive role in the global economy.

Asia is becoming not just the world’s factory, but also its leading creditor, and one of its key sources of dynamism and stability. Key questions are identified and addressed in three areas: Asia’s growth and productivity, financial stability, and regional economic integration. In each of these areas, the contributing authors evaluate current trends and the forces shaping the future. They consider whether the region’s progress is sustainable and what it will take to make it so. How is Asia reshaping its economy in response to the changing global landscape? More urgently, how can Asia weather the severe financial and economic storm originating from the global credit crisis? How will it extend its gains to people left behind? And how can it contribute to better governance and greater prosperity in the world economy? This book covers new ground by connecting theory, assembling detailed evidence on trends and challenges, and offering forward-looking policy prescriptions.

This timely book will appeal to Asian economic policy-makers as well as postgraduate students interested in Asian economies, international economics and regional integration. Staff of international and regional organizations interested in Asian economies will also find this book invaluable.
‘The important contributions included in this book make it a very exciting read about relevant issues of Asian economic cooperation and integration. I strongly believe that the time for Asian regionalism has come, and this study makes us understand why and how. I recommend anyone interested in Asian economic development and regional integration to read this book.’
– Chalongphob Sussangkarn, Thailand Development Research Institute and former Minister of Finance of the Royal Kingdom of Thailand
Contributors: D.W. Arner, G. Capannelli, R. Chandra, P. Dee, P. Drysdale, B. Eichengreen, A. Guangzhou Hu, Y. Huang, G.H. Jefferson, M. Kawai, R. Kumar, J.-W. Lee, R. Lee, S.-H. Lee, P. Lejot, A. Mason, R. Miyao, P.A. Petri, E. Sisli Ciamarra, W. Wang, G. Wignaraja
Contents:

1. Asian Growth and Global Stability
Masahiro Kawai, Jong-Wha Lee and Peter A. Petri

PART I: SUSTAINING DYNAMISM: PRODUCTIVITY AND GROWTH
2. Technology Policy for Sustained Asian Dynamism
Albert Guangzhou Hu and Gary H. Jefferson

3. Will Demographic Change Undermine Asia’s Growth Prospects?
Andy Mason, Sang-Hyop Lee and Ronald Lee

4. Alternative Growth Strategies in Asia: Liberalization, Deregulation, Structural Reforms
Philippa Dee

5. Regional Trade Agreements in Integrating Asia
Masahiro Kawai and Ganeshan Wignaraja

PART II: FINANCING DEVELOPMENT: INNOVATION AND STABILITY
6. Governance and Financial Integration in East Asia
Douglas W. Arner, Paul Lejot and Wei Wang

7. Patterns and Determinants of Financial Integration in Asia
Jong-Wha Lee

8. From Crisis to Crisis: Changing Capital Flows and Foreign Exchange Reserves in Asia
Yiping Huang

9. Monetary Policy and Exchange Rate Stability in East Asia
Ryuzo Miyao

PART III: EXTENDING COOPERATION: SOCIAL AND POLITICAL FRAMEWORKS
10. Perceptions of Economic Interdependence: The View of Asian Opinion Leaders
Giovanni Capannelli

11. How Asia Can Benefit from the European Experience
Barry Eichengreen

12. South Asian Integration: Prospects and Lessons from East Asia
Ramesh Chandra and Rajiv Kumar

13. Asia in Global Governance: A Case for Decentralized Institutions
Masahiro Kawai, Peter A. Petri and Elif Sisli Ciamarra

14. Deepening Asian Integration and the Architecture for Regional Cooperation
Peter Drysdale

Index