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Financial Initiatives of ASEAN: Peculiarities of Financial Cooperation Model in Southeast Asia

Author

Listed:
  • Igor A. Yakovlev

    (Financial Research Institute, Moscow, Russia)

  • Lyudmila S. Kabir

    (Financial Research Institute, Moscow, Russia)

  • Svetlana I. Nikulina

    (Financial Research Institute, Moscow, Russia)

Abstract

The article analyses the development of regional financial cooperation of ASEAN and studies the main directions of financial initiatives and forming mechanisms. Considering the development of regional financial integration and assessing the role of concerted actions conducted by ASEAN Member States step-by-step the authors of the article have come to the conclusion that relations between countries in the sphere of financial cooperation are established on a firm footing. The objective of cooperation stated by ASEAN — the counteraction of financial instability — is quite achievable. The authors make assumptions explaining the peculiarities of the forming cooperation model. Moreover, the authors come to conclusion that it is necessary for Russia to strive for a decent place of a fully fledged participant of the forming new regional financial system as this process may cause fundamental changes in the international financial system.

Suggested Citation

  • Igor A. Yakovlev & Lyudmila S. Kabir & Svetlana I. Nikulina, 2016. "Financial Initiatives of ASEAN: Peculiarities of Financial Cooperation Model in Southeast Asia," Finansovyj žhurnal — Financial Journal, Financial Research Institute, Moscow 125375, Russia, issue 4, pages 7-17, August.
    • Handle: RePEc:fru:finjrn:160401:p:7-17
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    Citations

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    Cited by:

    1. I. Yakovlev A. & L. Kabir S. & И. Яковлев А. & Л. Кабир С., 2018. "Развитие рынка долгосрочных инвестиций: современные преобразования в национальном механизме финансирования экономического роста // Development of the Long-Term Investment Market: Modern Transformation," Экономика. Налоги. Право // Economics, taxes & law, ФГОБУ "Финансовый университет при Правительстве Российской Федерации" // Financial University under The Government of Russian Federation, vol. 11(6), pages 6-15.

    More about this item

    Keywords

    international financial system; regional integration; regional financial initiatives; financial cooperation; financial mechanisms; liberalization of financial services; capital market liberalization; ASEAN;
    All these keywords.

    JEL classification:

    • F21 - International Economics - - International Factor Movements and International Business - - - International Investment; Long-Term Capital Movements
    • F36 - International Economics - - International Finance - - - Financial Aspects of Economic Integration

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