Abstract

This article reflects on the ambitions of the Association of Southeast Asian Nations (ASEAN) to foster regional economic and financial integration among its member countries against the backdrop of the European financial crisis. Based on a review of the European experiences with financial integration since the 1970s, this article critically examines the potential risks associated with the creation of a financially integrated ASEAN Economic Community and the implications for policy autonomy of ASEAN members. It outlines the regulatory and institutional requirements that need to be put in place in order to minimize financial stability risk if an integrated financial sector across ASEAN is aimed for.

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Additional Information

ISSN
2339-5206
Print ISSN
2339-5095
Pages
pp. 124-141
Launched on MUSE
2013-08-22
Open Access
No
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