Economic and monetary integration in East Asia
Economic integration (or union) refers to economic linkages or interdependence between countries. The flow of trade, capital, labor and technology across countries are evidence of economic linkages. The reduction or elimination of trade barriers among nations will eventually bring together the co...
| Main Authors: | , |
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| Format: | Conference or Workshop Item |
| Language: | English |
| Published: |
USIM Press, Universiti Sains Islam Malaysia
2019
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| Subjects: | |
| Online Access: | http://irep.iium.edu.my/49765/ http://irep.iium.edu.my/49765/1/49765_Economic%20and%20monetary%20integration.pdf |
| Summary: | Economic integration (or union) refers to economic linkages or interdependence between
countries. The flow of trade, capital, labor and technology across countries are evidence of
economic linkages. The reduction or elimination of trade barriers among nations will eventually
bring together the commodity market, financial market and labor market of the economies
involved. However, the dissimilarity of the level of economic development and monetary system
is commonly said to be the main obstacle to the adoption of policies to support economic and
monetary integration. On the other hand, the similarity of past macroeconomic policies, stage of
economic development and financial systems would increase the suitability of countries to be
integrated. This paper examines the latest trend in the economic and monetary integration in
selected East Asia countries and look for possible convergence pattern. There are evidence
supporting positive impact of forming an economic and monetary integration in these
economies. |
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