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Economic Liberalization and Integration in East AsiaA Post-Crisis Paradigm$
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Yung Chul Park

Print publication date: 2005

Print ISBN-13: 9780199276776

Published to Oxford Scholarship Online: February 2006

DOI: 10.1093/0199276773.001.0001

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Financial Integration

Financial Integration

(p.172) 19 Financial Integration
Economic Liberalization and Integration in East Asia

Yung Chul Park

Oxford University Press

The Chiang Mai Initiative (CMI) is an important first step in creating a regional cooperative system that can be activated immediately to provide liquidity support to any member country. The structure and elements of the CMI, and those of the Asian Bond Market Initiative — a comprehensive plan for the development of regional bond markets — are discussed.

Keywords:   Chiang Mai Initiative, monetary system, liquidity support, currency swap, bond market, financial reform

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