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Evolving ASEAN+3 ERPD: Towards Peer Reviews or Due Diligence?

dc.contributor.authorMasahiro Kawai
dc.contributor.authorCindy Houser
dc.date.accessioned2015-04-10T10:16:24Z
dc.date.available2015-04-10T10:16:24Z
dc.date.issued2007-09-15
dc.identifier.urihttp://hdl.handle.net/11540/3667
dc.description.abstractThe ASEAN+3 finance ministers’ group has developed its economic review and policy dialogue (ERPD) process as part of regional financial cooperation efforts. Recently the group has decided to integrate the ERPD process with the regional liquidity support facility, called the Chiang Mai Initiative (CMI), and has taken steps to transform CMI into a multilateral arrangement that is more independent of International Monetary Fund (IMF) programs. This requires a significant strengthening of the effectiveness of ERPD. The issue is how to achieve it—whether to adopt an OECD-type “peer review and peer pressure” approach or an IMF-type “due diligence” approach. The paper argues that ERPD needs to evolve to embrace both approaches by taking appropriate balances between the two.
dc.languageEnglish
dc.publisherAsian Development Bank
dc.rightsCC BY 3.0 IGO
dc.rights.urihttp://creativecommons.org/licenses/by/3.0/igo
dc.titleEvolving ASEAN+3 ERPD: Towards Peer Reviews or Due Diligence?
dc.typeWorking Papers
dc.subject.expertRegionalism
dc.subject.expertRegional Economy
dc.subject.expertRegional Trading Arrangements
dc.subject.adbGovernment Policy
dc.subject.adbRegional Organization
dc.subject.adbRegional Plans
dc.subject.naturalInterregionalism
dc.subject.naturalRegional economics
dc.subject.naturalRegional planning
dc.title.seriesADBI Working Paper Series
dc.title.volume79
dc.contributor.imprintAsian Development Bank
oar.themeRegional
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
oar.countryMalaysia
oar.countryMyanmar
oar.countryPhilippines
oar.countrySingapore
oar.countryThailand
oar.countryViet Nam
oar.countryCook Islands
oar.countryFiji Islands
oar.countryKiribati
oar.countryMarshall Islands
oar.countryFederated States of Micronesia
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.countryPeople's Republic of China
oar.countryHong Kong
oar.countryChina
oar.countryRepublic of Korea
oar.countryMongolia
oar.countryTaipei,China
oar.identifierOAR-004311
oar.authorKawai, Masahiro
oar.authorHouser, Cindy
oar.importtrue
oar.googlescholar.linkpresenttrue


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  • ADBI Working Papers
    The Asian Development Bank Institute (ADBI) Working Paper series is a continuation of the formerly named Discussion Paper series which began in January 2003. The numbering of the papers continued without interruption or change. ADBI was established in 1997 in Tokyo, Japan, to help build capacity, skills, and knowledge related to poverty reduction and other areas that support long-term growth and competitiveness in developing economies in Asia and the Pacific.

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