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Vietnam and East Asian Monetary Cooperation: Efforts and Policies
Author(s) -
Thuy Van Le Thi
Publication year - 2009
Publication title -
asian politics and policy
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.193
H-Index - 12
eISSN - 1943-0787
pISSN - 1943-0779
DOI - 10.1111/j.1943-0787.2009.01135.x
Subject(s) - east asia , context (archaeology) , chiang mai , monetary hegemony , monetary policy , political science , economics , development economics , china , geography , macroeconomics , socioeconomics , archaeology , law
The article focuses on Vietnam's participation in East Asian monetary cooperation. It argues that monetary cooperation is necessary for the regional countries, including Vietnam. Perspectives on regional monetary cooperation are considered with the Chiang Mai Initiative in the short term, and an Asian monetary system, Asian monetary fund, and Asian monetary union in the medium and long terms. More important, the author emphasizes Vietnam's efforts and policies in this cooperation. Vietnam has done a great deal to support East Asian monetary cooperation by joining many working groups within the context of ASEAN+3. However, more economic reforms should be undertaken to further upgrade Vietnam's participation in regional monetary cooperation. The author finally makes some recommendations that will help Vietnam's policy makers strengthen the country's participation in East Asian monetary cooperation.