Why has there been Less Regional Integration in East Asia than in Europe?
Barry Eichengreen () and
Yung Chul Park
Chapter 4 in A New Financial Market Structure for East Asia, 2005 from Edward Elgar Publishing
This book contends that the East Asian financial constitution lacks an appropriate infrastructure, resulting in inefficient allocation of high savings and an over-inflated short-term debt market. It goes on to point out that despite high savings, East Asia’s dependency on financial centers outside the region is also relatively high, and that there is no strong region-wide network to connect various financial centers in East Asia.
Keywords: Asian Studies; Economics and Finance (search for similar items in EconPapers)
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Persistent link: https://EconPapers.repec.org/RePEc:elg:eechap:3528_4
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