Currency and Contest in East Asia: The Great Power Politics of Financial Regionalism

Index

Index Page numbers with an f, t, or n indicate figures, tables, or notes, respectively. Abe, Shinzō, 40n11 ABF (Asian Bond Fund), 4, 184–86, 192, 193 ABMI. See Asian Bond Markets Initiative ACU (Asian Currency Unit), 144–46, 192 ADB. See Asian Development Bank AFC. See Asian Financial Crisis of 1997–98 AFTA (ASEAN Free Trade Area), 40n13, 50–51, 54, 56, 58 AMF (Asian Monetary Fund) proposal, 76–78, 205 AMU (Asian Monetary Unit), 144–46 Anderson, Benedict, 37, 38–39n9 APEC. See Asia-Pacific Economic Cooperation forum ARF (ASEAN Regional Forum), 39, 50, 54, 55 Argentine Crisis (2001), 108 Armitage, Richard, 57 ASEAN. See Association of Southeast Asian Nations ASEAN Free Trade Area (AFTA), 40n13, 50–51, 54, 56, 58 ASEAN Regional Forum (ARF), 39, 50, 54, 55 ASEAN+1 agreements, 58, 60, 61 ASEAN+3 (ASEAN plus China, Japan, and South Korea) ABMI, role in, 178, 179–80 as basis of East Asian financial regionalism, 4, 36–37, 39 CMI and, 100–102 early efforts at, 51 establishment of, 54–57 exclusion of U.S. from bond market initiatives, 199–201, 164 organization of, 55–56, 100–2 role of smaller states, 74–75, 99–100, 207, 216 U.S. dollar, ability to affect, 152, 210 ASEAN4 (Indonesia, Malaysia, Philippines, Thailand), 27, 47f, 74, 107, 112, 190n87 ASEAN5 (Indonesia, Malaysia, Philippines, Singapore, Thailand), 28, 47f, 48, 82, 101n86, 129, 142 Asia-Europe Meeting (ASEM), 39, 51 Asia-Pacific Economic Cooperation forum (APEC) AFC, passivity in, 4n2, 53–54 bond market development, minimal role in, 177, 199 East Asia vs. Pacific Rim regionalism, 51–54 establishment of, 52–53 liberalization of trade in, 46–48 limitations of, 40, 53 open regionalism, concept of, 40, 45, 53 Asia-Pacific region vs. East Asia, 51–54 Asian Bond Fund (ABF), 4, 184–86, 192, 193 Asian Bond Markets Initiative (ABMI), 4, 177–84, 205–6 ABF and, 186 ASEAN+3, role of, 178, 179–80 infrastructural issues, 180–82, 190 Japanese involvement in, 195, 197 liquidity support, 182–84, 200 organization and procedures, 178–80 process, 178–80 regional vs. local market development, 171–73, 188–93 SME financing, 176 240 Index Asian Bonds Online, 187 Asian Currency Unit (ACU), 144–46, 192 Asian Development Bank (ADB) ACU, 144 bond market development, role in, 177, 182–83, 186–88 ERPD, 88 OREI, 187 Asian Financial Crisis of 1997–98 (AFC), 4, 204–5 APEC’s passivity in, 4n2, 53–54 ASEAN+3, establishment of, 54 bond market development and, 160–61 capital market development and controls, 66, 169–70 currency management/cooperation and, 122–24 currency mismatches in, 64, 65, 168 emergency liquidity provision, need for, 67–68, 71–72, 75–76 financial regionalism in East Asia spurred by, 63, 68 foreign exchange reserves, 67–68 IMF and, 67, 68, 71, 73, 75–76 pan-Asian identity, formation of, 32 regionalization and regionalism following, 42 Asian Monetary Fund (AMF) proposal, 76–78, 205 Asian Monetary Unit (AMU), 144–46 Association of Southeast Asian Nations (ASEAN) AFTA, 40n13, 50–51, 54, 56, 58 ARF, 39, 50, 54, 55 ASEAN+3. See ASEAN+3 ASEAN4, 27, 47f, 74, 107, 112, 190n87 ASEAN5, 28, 47f, 48, 82, 101n86, 129, 142 China and, 212 East Asian financial regionalism centered on, 4 establishment and organization of, 41–42, 50–51 followership in, 74–75 South China Sea, declarations on, 51 Australia dollar bonds, 196 East Asian regional activities including/ excluding, 28n73, 40, 51, 52, 57, 58, 60, 110n107, 184 liberalization interests of, 28n73 in Manila Framework Group, 54, 78 PTAs, 59f role in regional development, 216 strategic coalitions with, 209, 214 Bank for International Settlements (BIS), 4–5, 8, 18, 194 banking sector dominance in East Asian economies, 160–61, 176 Basel Accord (1988), 20 Big Bang (1998–2001), 27n69 bilateral agreements CMI, 56, 82–85, 83f list of, 59t regional cooperation vs., 57–62, 215–16 BIS (Bank for International Settlements), 4–5, 8, 18, 194 Bogor Declaration (1995), 53 bond market development, 4, 160–203, 205–6 ABF, 4, 184–86, 192, 193 ABMI. See Asian Bond Markets Initiative ADB, role of, 177, 182–83, 186–88 AFC and, 160–61 banking sector dominance in East Asian economies, 160–61, 176 capital liberalization and, 163, 189–90 competition over location of bond market centers, 197–99, 211 composition of bonds outstanding, 174 constructivist approach to, 167–68, 194, 200, 202 diversity of financial products and financing options, 171...