Monetary Integration and Exchange Rate Issues in East Asia

摘要

Ast Asia is arguably the world's most dynamic economic region and one of, the most integrated areas. Yet, its economic and monetary integration is a recent event and follows a different path from that of Europe. In contrast to the European experience, regional integration in East Asia was not begun with any formal trade liberalisation such as a customs union and free trade area. Instead, it has followed a bottom-up approach and occurred in the absence of a formal institutional framework.