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Asia and Global Financial Governance

Author

Listed:
  • C. Randall Henning

    (Peterson Institute for International Economics)

  • Mohsin S. Khan

    (Peterson Institute for International Economics)

Abstract

Currently, Asia’s influence in global financial governance is not consistent with its weight in the world economy. This paper examines the role of Asia in the International Monetary Fund (IMF) and the Group of Twenty (G-20). It looks in particular at how the relationship between East Asian countries and the IMF has evolved since the Asian financial crisis of 1997-98 and outlines how Asian regional arrangements for crisis financing and economic surveillance could constructively interact with the IMF in the future. It also considers ways to enhance the effectiveness of Asian countries in the G-20 process.

Suggested Citation

  • C. Randall Henning & Mohsin S. Khan, 2011. "Asia and Global Financial Governance," Working Paper Series WP11-16, Peterson Institute for International Economics.
    • Handle: RePEc:iie:wpaper:wp11-16
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    References listed on IDEAS

    as
    1. Sussangkarn, Chalongphob, 2010. "The Chiang Mai Initiative Multilateralization: Origin, Development and Outlook," ADBI Working Papers 230, Asian Development Bank Institute.
    2. Edwin M. Truman, 2010. "The G-20 and International Financial Institution Governance," Working Paper Series WP10-13, Peterson Institute for International Economics.
    3. Chalongphob Sussangkarn, 2010. "The Chiang Mai Initiative Multilateralization : Origin, Development and Outlook," Governance Working Papers 22821, East Asian Bureau of Economic Research.
    4. Koichi Hamada & Beate Reszat & Ulrich Volz (ed.), 2009. "Towards Monetary and Financial Integration in East Asia," Books, Edward Elgar Publishing, number 13458.
    5. C. Randall Henning, 2009. "The Future of the Chiang Mai Initiative: An Asian Monetary Fund?," Policy Briefs PB09-5, Peterson Institute for International Economics.
    6. Yung Chul Park & Yunjong Wang, 2005. "The Chiang Mai Initiative and Beyond," The World Economy, Wiley Blackwell, vol. 28(1), pages 91-101, January.
    7. Simon Johnson & Kalpana Kochhar & Todd Mitton & Natalia Tamirisa, 2007. "Malaysian Capital Controls: Macroeconomics and Institutions," NBER Chapters, in: Capital Controls and Capital Flows in Emerging Economies: Policies, Practices, and Consequences, pages 529-574, National Bureau of Economic Research, Inc.
    8. Mr. Luca A Ricci & Mr. Jonathan David Ostry & Mr. Jaewoo Lee & Mr. Alessandro Prati & Mr. Gian M Milesi-Ferretti, 2008. "Exchange Rate Assessments: CGER Methodologies," IMF Occasional Papers 2008/002, International Monetary Fund.
    9. C. Randall Henning, 2002. "East Asian Financial Cooperation," Peterson Institute Press: All Books, Peterson Institute for International Economics, number pa68, April.
    10. Masahiro Kawai, 2010. "Reform Of The International Financial Architecture: An Asian Perspective," The Singapore Economic Review (SER), World Scientific Publishing Co. Pte. Ltd., vol. 55(01), pages 207-242.
    11. Takagi, Shinji, 2010. "Regional Surveillance for East Asia: How Can It Be Designed to Complement Global Surveillance?," Working Papers on Regional Economic Integration 50, Asian Development Bank.
    12. C. Randall Henning, 2011. "Coordinating Regional and Multilateral Financial Institutions," Working Paper Series WP11-9, Peterson Institute for International Economics.
    13. Mohsin S. Khan & Sunil Sharma, 2003. "IMF Conditionality and Country Ownership of Adjustment Programs," The World Bank Research Observer, World Bank, vol. 18(2), pages 227-248.
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    Cited by:

    1. C. Randall Henning, 2012. "Choice and Coercion in East Asian Exchange Rate Regimes," Working Paper Series WP12-15, Peterson Institute for International Economics.
    2. Lamberte, Mario & Morgan , Peter J., 2012. "Regional and Global Monetary Cooperation," ADBI Working Papers 346, Asian Development Bank Institute.
    3. Margot Schüller & Jan Peter Wogart, 2017. "The emergence of post-crisis regional financial institutions in Asia—with a little help from Europe," Asia Europe Journal, Springer, vol. 15(4), pages 483-501, December.
    4. Edwin M. Truman, 2011. "Asian regional policy coordination," Proceedings, Federal Reserve Bank of San Francisco, issue Nov, pages 247-292.

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    More about this item

    Keywords

    Asia; G-20; IMF; regional financial arrangements; global governance;
    All these keywords.

    JEL classification:

    • F02 - International Economics - - General - - - International Economic Order and Integration
    • F55 - International Economics - - International Relations, National Security, and International Political Economy - - - International Institutional Arrangements

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