Financial Initiatives of ASEAN: Peculiarities of Financial Cooperation Model in Southeast Asia

Igor' Yakovlev, Liudmila Kabir () and Svetlana I. Nikulina ()
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Svetlana I. Nikulina: Financial Research Institute, Moscow, Russia

Finansovyj žhurnal — Financial Journal, 2016, issue 4, 7-17

Abstract: The article analyses the development of regional financial cooperation of ASEAN and studies the main directions of financial initiatives and forming mechanisms. Considering the development of regional financial integration and assessing the role of concerted actions conducted by ASEAN Member States step-by-step the authors of the article have come to the conclusion that relations between countries in the sphere of financial cooperation are established on a firm footing. The objective of cooperation stated by ASEAN — the counteraction of financial instability — is quite achievable. The authors make assumptions explaining the peculiarities of the forming cooperation model. Moreover, the authors come to conclusion that it is necessary for Russia to strive for a decent place of a fully fledged participant of the forming new regional financial system as this process may cause fundamental changes in the international financial system.

Keywords: international financial system; regional integration; regional financial initiatives; financial cooperation; financial mechanisms; liberalization of financial services; capital market liberalization; ASEAN (search for similar items in EconPapers)
JEL-codes: F21 F36 (search for similar items in EconPapers)
Date: 2016
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Citations: View citations in EconPapers (1)

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Persistent link: https://EconPapers.repec.org/RePEc:fru:finjrn:160401:p:7-17

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