Governance, Institutional Quality and the Euro Area Crisis: What Lessons to East Asian Integration?

Seung-Gwan Baek () and Yonghyup Oh ()
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Seung-Gwan Baek: Hongik University
Yonghyup Oh: Club of Rome-EU Chapter

East Asian Economic Review, 2013, vol. 17, issue 4, 361-383

Abstract: We find that institutional quality of an individual country was highly and significantly correlated with its economic performance in the euro area. We argue that governance reforms proposed at present do not suffice to resolving the fundamental problems of the EMU governance system unless disparities of institutional quality in member states are dissolved. Regarding regional integration, East Asia is far behind the Eurozone not only in institutional elements of the governance system but also in institutional quality at the level of individual nations.

Keywords: Governance; Euro Area; Debt Crisis; Institutional Quality (search for similar items in EconPapers)
JEL-codes: F30 F33 (search for similar items in EconPapers)
Date: 2013
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Persistent link: https://EconPapers.repec.org/RePEc:ris:eaerev:0050

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