Regional Financial Integration in Regional Financial Integration in East Asia: Challenges and ProspectsEast Asia: Challenges and Prospects

Yung Chul ParkProfessor, Korea University

yungcp@korea.ac.kr

Economic Rationale for a Regional Economic Rationale for a Regional Financial Arrangement in East AsiaFinancial Arrangement in East AsiaIMF and Capital Account Crisis

ManagementContagion of Financial CrisesLimited and Slow Progess in

International Financial ReformBuilding a War ChestStabilizing Bilateral Exchange Rates

for Intra-regional Trade Expansion

Trade Share in East Asian Countries Trade Share in East Asian Countries (export)(export)

Trade Share in East Asian Countries Trade Share in East Asian Countries (import)(import)

Foreign Exchange Reserves and Current Foreign Exchange Reserves and Current Account Balance Account Balance (incomplete)(incomplete)

Foreign Exchange Reserves and Current Foreign Exchange Reserves and Current Account Balance Account Balance (incomplete)(incomplete)

Foreign Exchange Reserves and Current Foreign Exchange Reserves and Current Account Balance Account Balance (incomplete)(incomplete)

Foreign Exchange Reserves and Current Foreign Exchange Reserves and Current Account Balance Account Balance (incomplete)(incomplete)

Foreign Exchange Reserves and Current Foreign Exchange Reserves and Current Account Balance Account Balance (incomplete)(incomplete)

Foreign Reserves / Short-term DebtForeign Reserves / Short-term Debt