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Re-considering Asian Financial Regionalism in the 1990s

dc.contributor.authorShintaro Hamanaka
dc.date.accessioned2015-01-30T14:44:31Z
dc.date.available2015-01-30T14:44:31Z
dc.date.issued2009-03-01
dc.identifier.urihttp://hdl.handle.net/11540/1796
dc.description.abstractA common view holds that the trend toward Asian financial regionalism is a relatively new phenomenon that became significant after the Asian financial crisis of 1997/98. This paper challenges this view by exploring and analyzing financial regionalist projects in Asia throughout the 1990s. As they demonstrate, Asian countries, especially Japan, have held a strong desire to establish an Asia-only regional cooperation framework at least since the early 1990s. The basic policy stance of the United States (US), in contrast, was to participate in Asian forums and/or itself to propose and establish regional groupings with itself as a member. This competition is crucial to understanding the rise and fall of various regionalist projects. The analysis of Asian financial regionalism from the standpoint of the membership sheds new light on studies of regionalism. Among the important theoretical implications of this empirical study is that by exercising “blocking power” over a regionalist project, an outside power is not simply killing the proposal, but is participating in the proposed regional framework and seeking to influence it. Regionalism can be best understood as a project under which a relatively minor power seeks to establish a framework that excludes more influential states in order to increase its influence within the group.
dc.languageEnglish
dc.publisherAsian Development Bank
dc.rightsCC BY 3.0 IGO
dc.rights.urihttp://creativecommons.org/licenses/by/3.0/igo
dc.titleRe-considering Asian Financial Regionalism in the 1990s
dc.typeWorking Papers
dc.subject.expertRegionalism
dc.subject.expertRegional Economy
dc.subject.expertRegional Trading Arrangements
dc.subject.expertRegional Trade Integration
dc.subject.expertRegional Economic Integration
dc.subject.expertRegional Cooperation
dc.subject.expertInterregional Cooperation
dc.subject.expertTrade Disputes
dc.subject.expertTrade Barriers
dc.subject.adbEconomic integration
dc.subject.adbRegional Development Bank
dc.subject.adbPreferential tariffs
dc.subject.adbInternational negotiation
dc.subject.adbProtectionist measures
dc.subject.adbAccess to markets
dc.subject.adbEconomic agreements
dc.subject.adbInternational trade law
dc.subject.adbRegional integration
dc.subject.adbTrade relations
dc.subject.naturalRegional disparities
dc.subject.naturalInterregionalism
dc.subject.naturalRegional economic disparities
dc.subject.naturalRegional economic blocs
dc.subject.naturalIndustrial arbitration
dc.title.seriesRegional Economic Integration Working Papers
dc.title.volumeno 26
dc.contributor.imprintAsian Development Bank
oar.themeRegional
oar.themeTrade
oar.adminregionAsia and the Pacific Region
oar.countryBangladesh
oar.countryBhutan
oar.countryIndia
oar.countryMaldives
oar.countryNepal
oar.countrySri Lanka
oar.countryBrunei Darussalam
oar.countryCambodia
oar.countryIndonesia
oar.countryLao People's Democratic Republic
oar.countryMalaysia
oar.countryMyanmar
oar.countryPhilippines
oar.countrySingapore
oar.countryThailand
oar.countryViet Nam
oar.countryCook Islands
oar.countryFiji
oar.countryKiribati
oar.countryMarshall Islands
oar.countryMicronesia, Federated States of
oar.countryNauru
oar.countryPalau
oar.countryPapua New Guinea
oar.countrySamoa
oar.countrySolomon Islands
oar.countryTimor-Leste
oar.countryTonga
oar.countryTuvalu
oar.countryVanuatu
oar.countryAfghanistan
oar.countryArmenia
oar.countryAzerbaijan
oar.countryGeorgia
oar.countryKazakhstan
oar.countryKyrgyz Republic
oar.countryPakistan
oar.countryTajikistan
oar.countryTurkmenistan
oar.countryUzbekistan
oar.countryChina, People's Republic of
oar.countryHong Kong, China
oar.countryRepublic of Korea
oar.countryMongolia
oar.countryTaipei,China
oar.identifierOAR-001826
oar.authorHamanaka, Shintaro
oar.importtrue
oar.googlescholar.linkpresenttrue


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  • Regional Economic Integration Working Paper Series
    The Asian Development Bank Working Paper Series on Regional Economic Integration focuses on topics relating to regional cooperation and integration in the areas of infrastructure and software, trade and investment, money and finance, and regional public goods. The series is a quick-disseminating, informal publication that seeks to provide information, generate discussion, and elicit comments.

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