Seeking a place for East Asian regionalism: Challenges and opportunities under the global financial crisis

Pacific Review

Volumn 24, Issue 3, 2011, Pages 273-290

  Katada, Saori N ^a  

^a UNIVERSITY OF SOUTHERN CALIFORNIA   (United States)

Author keywords

East asia; Financial crisis; Financial integration; Free trade agreement; G20; Imf; Regionalism

Indexed keywords

ECONOMIC PLANNING; ECONOMIC REFORM; FINANCIAL CRISIS; FREE TRADE; GOVERNANCE APPROACH; IMF; NEOLIBERALISM; REGIONAL ECONOMY; REGIONALISM; STATE ROLE;

FAR EAST;

EID: 79960685953     PISSN: 09512748     EISSN: 14701332     Source Type: Journal    
DOI: 10.1080/09512748.2011.577235     Document Type: Article

References (66)

1. Ahn, C. Y. (2010) 'Weathering the storm: the impact of the global financial crisis on Asia', Global Asia 5(1): 58-68.
2. Aizenman, J., Jinjarak, Y. and Park, D. (2010) 'International reserves and swap lines: substitutes or complements', NBER Working Paper no. w15804.
3. Amyx, J. (2005) 'What motivates regional financial cooperation in East Asia today?', Asia Pacific Issues 76(February): 1-8.
4. Amyx, J. (2008) 'Regional financial cooperation in East Asia since the Asian financial crisis', in A. MacIntyre, T. J. Pempel and J. Ravenhil (eds) Crisis as Catalyst: Asia's Dynamic Political Economy, Ithaca, NY: Cornell University Press, pp. 117-39.
5. Asian Development Bank (ADB) (2008) Asian Economic Monitor (December), Manila: ADB.
6. Asian Development Bank (ADB) (2009) Asian Development Outlook: Rebalancing Asia's Growth, Manila: ADB.
7. Asian Development Bank (ADB) (2010) Asian Development Outlook: Macroeconomic Management beyond the Crisis, Manila: ADB.
8. Bauer, J. (1992) 'Industrial restructuring in the NIES: prospects and challenges', Asian Survey 32(11): 1012-25.
9. Bernanke, B. (2005) 'The global saving glut and the U.S. current account deficit', 10 March, accessed at http://www.federalreserve.gov/boarddocs/speeches/2005/200503102/default.htm. [Accessed 20 August, 2010].
10. Bhagwati, J. (1998) 'The capital myth: the difference between trade in widgets and dollars', Foreign Affairs 77(3): 7-12.
11. Bobrow, D. B. (1999) 'The U.S. and ASEM: why the hegemon didn't bark', The Pacific Review 12(1): 103-28.
12. Bowles, P. 2000. 'Regionalism and development after (?) the global financial crises', New Political Economy 5(1): 433-57.
13. Budianta, M. (2000) 'Discourse of cultural identity in Indonesia during the 1997-1998 monetary crisis', Inter-Asia Cultural Studies 1(1): 109-28.
14. Chey, H. (2009) 'The changing political dynamics of East Asian financial cooperation: the Chiang Mai Initiative', Asian Survey 49(3): 450-67.
15. Corsetti, G., Pesenti, P. and Roubini, N. (1999) 'What caused the Asian currency and financial crisis?' Japan and the World Economy 11: 305-75.
16. Dooley, M., Folkerts-Landau, D. and Garber, P. (2003) 'An essay on the revived BrettonWoods system', NBER Working Paper, no. 9971.
17. Emmers, R. and Ravenhill, J. (2010) 'The Asian and global financial crises: consequences for East Asian regionalism', RSIS Working Paper, no. 208.
18. Gamberoni, E. and Newfarmer, R. (2009) 'Trade protection: incipient but worrisome trend', Vox, 4 March, accessed at http://www.voxeu.org/index.php?q=node/3183. [Accessed 15 May 2010].
19. Gilson, J. (1999) 'Japan's role in the Asia-Europe meeting: establishing an interregional or intraregional agenda?', Asian Survey 39(5): 736-52.
20. Goldstein, M. and Xie, D. (2009) 'Impact of financial crisis on emerging Asia', Peterson Institute for International Economics, Working Paper, 09-11.
21. Gourevitch, P. (2008) 'Containing the oligarchs: the politics of corporate governance systems in EastAsia', in A.MacIntyre, T. J. Pempel and J. Ravenhil (eds) Crisis as Catalyst: Asia's Dynamic Political Economy, Ithaca, NY: Cornell University Press, pp. 70-92.
22. Grieco, J. M. (1995) 'The Maastricht Treaty: economic and monetary union and the neo-realist research programme', Review of International Studies 21(1): 21-40.
23. Hall, R. (2003) 'The discursive demolition of the Asian development model', International Studies Quarterly 47: 71-99.
24. Hamilton-Hart, N. (2008) 'Banking systems a decade after the crisis', in A. MacIntyre, T. J. Pempel and J. Ravenhill (eds) Crisis as Catalyst: Asia's Dynamic Political Economy, Ithaca, NY: Cornell University Press, pp. 45-69.
25. Hatoyama, Y. (2009) 'My political philosophy', Voice, September, accessed at http://www.hatoyama.gr.jp/masscomm/090810.html. [Accessed 10 October 2010].
26. Helleiner, E. and Pagliari, S. (2010) 'Crisis and reform of international financial regulation', in E. Helleiner, S. Pagliari and H. Zimmermann (eds) Global Finance in Crisis: The Politics of International Regulatory Change, New York: Routledge, pp. 1-18.
27. Higgott, R. (1998) 'The Asian economic crisis: a study in the politics of resentment', New Political Economy 3(3): 333-56.
28. Hiwatari, N. (2003) 'Embedded policy preferences and the formation of international arrangements after the Asian financial crisis', The Pacific Review 16(3): 331-59.
29. House Committee on Oversight and Government Reform. 2008. Hearing of the House Committee on Oversight and Government Reform Subject: The Financial Crisis and the Role of Federal Regulators, October 23, 2008.
30. International Monetary Fund (IMF) (2010) 'Capital inflows: the role of controls', IMF Staff Position Note SPN/10/04, 19 February.
31. Katada, S. N. (2004) 'Japan's counterweight strategy: U.S.-Japan cooperation and competition in international finance', in S. K. Ellis and T. J. Pempel (eds) Beyond Bilateralism: U.S.-Japan Relations in the New Asia-Pacific, PaloAlto, CA: Stanford University Press, pp. 176-97.
32. Katada, S. N. (2008) 'From a supporter to a challenger? Japan's currency leadership in dollar-dominated East Asia', Review of International Political Economy 15(3): 399-417.
33. Kawai, M. and Motonishi, T. (2005) 'Macroeconomic interdependence in East Asia: empirical evidence and issues', in Asian Development Bank (ed.) Asian Cooperation and Integration: Progress, Prospects, Challenges, Manila: Asian Development Bank, pp. 213-68.
34. Kawai, M. and Wignaraja, G. (2008) 'EAFTA or CEPEA: which way forward?', ASEAN Economic Bulletin 25(2): 113-39.
35. Kawai, M. and Wignaraja, G. (2009) 'Asian FTAs: trends and challenges', ADBI Working Paper Series, no. 144, August.
36. Koo, M. G. (2009) 'South Korea's FTAs: moving from an emulative to a competitive strategy', in M. Solís, B. Stallings and S. N. Katada (eds) Competitive Regionalism: FTA Diffusion in the Pacific Rim, London: Palgrave, pp. 181-97.
37. Lee, Y. W. (2006) 'Japan and the Asian Monetary Fund: an identity-intention approach', International Studies Quarterly 50(2): 339-66.
38. Mahbubani, K. (2008) 'Why Asia stays calm in the storm', Financial Times, 28 October.
39. Mohanty, M. S. and Turner, P. (2006) 'Foreign exchange reserve accumulation in emerging markets: what are the domestic implications?', BIS Quarterly Bulletin (September): 39-52.
40. Munakata, N. (2006) 'Has politics caught up with the markets? In search of East Asian economic regionalism', in P. J. Katzenstein and T. Shiraishi (eds) Beyond Japan: The Dynamics of East Asian Regionalism, Ithaca, NY: Cornell University Press, pp. 130-57.
41. Nakagawa, J. (2009) 'Competitive regionalism through bilateral and regional rulemaking: standard setting and locking-in', in M. Soĺi{dotless}s, B. Stallings and S. N. Katada (eds) Competitive Regionalism: FTA Diffusion in the Pacific Rim, London: Palgrave, pp. 74-95.
42. Nakasone, Yasuhiro (2009) 'Kyotsu tsuka ga hiraku nihon to ajia no mirai' [The future of Japan and East Asia opened up by the common currency], Chuo koron (April): 182-93.
43. Noble, G. and Ravenhill, J. (2000) 'Causes and consequences of the Asian financial crisis', in G. Noble and J. Ravenhill (eds) The Asian Financial Crisis and the Architecture of Global Finance, Cambridge: Cambridge University Press, pp. 1-35.
44. Park, Y. C. and Shin, K. (2009) 'Economic integration and changes in the business cycle in East Asia: is the region decoupling from the rest of the world', Asian Economic Papers 8(2): 107-40.
45. Peng, D. (2002) 'Invisible linkages: a regional perspective of East Asian political economy', International Studies Quarterly 46(3): 423-47.
46. Radelet, S. and Sachs, J. (1998) 'The East Asian financial crisis: diagnosis, remedies, prospects', Brookings Papers on Economic Activity 1: 1-90.
47. Rapkin, D. P. and Strand, J. R. (2003) 'Is East Asia Under-represented in the International Monetary Fund?', International Relations of the Asia Pacific 3: 1-28.
48. Ravenhill, J. (2008) 'Trading out of the crisis', in A. MacIntyre, T. J. Pempel and J. Ravenhill (eds) Crisis as Catalyst: Asia's Dynamic Political Economy, Ithaca, NY: Cornell University Press, pp. 140-63.
49. Sakakibara, Eisuke (2000) Nihon to Sekai ga Furueta Hi: Saiba Shinhonsyugi no Seritsu [The Day when Japan and the World Shuddered: The Establishment of Cyber Capitalism], Tokyo: Chuo Korensha.
50. Sohn, I. (2005) 'Asian financial cooperation: the problem of legitimacy in global financial governance', Global Governance 11(4): 487-504.
51. Sohn, I. (2007). 'East Asia's counterweight strategy: Asian financial cooperation and evolving international monetary order', G-24 Discussion Paper Series, no. 44, March.
52. Solís, M. (2009) 'Japan's competitive FTA strategy: commercial opportunity versus political rivalry', in M. Soĺi{dotless}s, B. Stallings and S. N. Katada (eds) Competitive Regionalism: FTA Diffusion in the Pacific Rim, London: Palgrave, pp. 198-215.
53. Solís, M. and Katada, S. N. (2007). 'Understanding East Asian cross-regionalism: an analytical framework', Pacific Affairs 80(2): 229-57.
54. Takahashi, K. and Urata, S. (2008) 'On the use of FTAs by Japanese firms', RIETI Discussion Paper 08-E-002.
55. Terada, Ti. (2003) 'Constructing an "East Asian" concept and growing regional identity: from EAEC to ASEAN+3', The Pacific Review 16(2): 251-77.
56. Wade, R. (1996) 'Japan, the World Bank, and the art of paradigm maintenance: the East Asian miracle in political perspective', New Left Review (May/June): 3-36.
57. Wade, R. and Veneroso, F. (1998) 'The Asian crisis: the high debt model versus the Wall Street treasury IMF complex', New Left Review (March/April): 3-22.
58. Walter, A. (2008) Governing Finance: East Asia's Adoption of International Standard, Ithaca, NY: Cornell University Press.
59. Webber, D. (2001) 'Two funerals and a wedding? The ups and downs of regionalism in East Asia and Asia-Pacific after the Asian crisis', The Pacific Review 14(3): 339-72.
60. Wesley M. (1999) 'The Asian crisis and the adequacy of regional institutions', Contemporary Southeast Asia 21: 54-73.
61. Wolf, M. (2008) Fixing Global Finance, Baltimore: The Johns Hopkins University Press.
62. World Bank (2010) Emerging Stronger from the Crisis: East Asia and Pacific Economic Update 2010, Vol. 1,Washington, DC: World Bank.
63. Xinhua News Agency (2010) 'Chinese President calls for strong, sustainable, balanced global economic growth', 27 June.
64. Yokoi-Arai, M. (2006) 'Legal and political effects of financial and monetary regional integration in Asia', Law and Business Review 12(1): 47-69.
65. Yoshitomi, M. and Ohno, K. (1999) 'Capital-account crisis and credit contraction: the new nature of crisis requires new policy responses', Asian Development Bank Institute Working Paper No. 2. Tokyo, Japan, accessed at http://www.adbi.org/publications/wp/wp9905.htm. [Accessed 25 March 2002].
66. Zhou, X. (2009) 'Reform the international monetary system', accessed at http://www.bis.org/review/r090402c.pdf (accessed 15 August, 2010).