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Macroeconomic Linkages and Regional Monetary Cooperation: Steps Ahead *
Author(s) -
De BROUWER Gordon,
RAMAYANDI Arief,
TURVEY David
Publication year - 2006
Publication title -
asian economic policy review
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.58
H-Index - 20
eISSN - 1748-3131
pISSN - 1832-8105
DOI - 10.1111/j.1748-3131.2006.00033.x
Subject(s) - economics , scope (computer science) , monetary policy , inflation (cosmology) , east asia , convergence (economics) , inflation targeting , international economics , exchange rate , monetary economics , macroeconomics , political science , china , physics , theoretical physics , computer science , law , programming language
There is a growing appetite for economic cooperation in East Asia. Although the region has forums to facilitate this, economic cooperation has focussed largely on discussion of issues and policies − cooperative action is confined to functional cooperation in finance. There is scope for further cooperation in strengthening markets and institutions, with a view to accelerating convergence and stability in the region and deepening shared preferences about policy objectives, including on monetary and exchange rate issues. Although monetary policy in East Asia is generally focussed on controlling inflation, differences remain in economic structure and preferences about policy trade‐offs, markets, and institutions.