Financial Integration

Yung Chul Park

in Economic Liberalization and Integration in East Asia

Published in print December 2005 | ISBN: 9780199276776
Published online February 2006 | e-ISBN: 9780191603051 | DOI:
 Financial Integration

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The Chiang Mai Initiative (CMI) is an important first step in creating a regional cooperative system that can be activated immediately to provide liquidity support to any member country. The structure and elements of the CMI, and those of the Asian Bond Market Initiative — a comprehensive plan for the development of regional bond markets — are discussed.

Keywords: Chiang Mai Initiative; monetary system; liquidity support; currency swap; bond market; financial reform

Chapter.  5330 words. 

Subjects: Business and Management

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