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ASEAN Financial Integration
Report

ASEAN Financial Integration

Geert Almekinders, Satoshi Fukuda, Alex Mourmouras and Jianping Zhou
IMF, 2015
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Editorial Rating

7

Qualities

  • Comprehensive
  • Analytical
  • Scientific

Recommendation

The 10 countries of the Association of Southeast Asian Nations (ASEAN) are close to creating the world’s newest economic power bloc – the ASEAN Economic Community (AEC). However, as economists Geert Almekinders, Satoshi Fukuda, Alex Mourmouras and Jianping Zhou point out, the AEC must plan and regulate on a transnational level to insulate itself from the kinds of shocks that shook the euro zone. With careful execution, financial integration will attract a surge of foreign investment and capital flows to the ASEAN region. However, as this lucid, structured and comprehensive analysis explains, various risks could imperil a project that shows huge promise. getAbstract recommends this study to investors, executives and policy makers with interests in the region.

Take-Aways

  • Financial integration among the 10 fast-growing members of the Association for Southeast Asian Nations (ASEAN) is still a long way off, despite the projected late-2015 launch of the ASEAN Economic Community (AEC).
  • ASEAN financial assimilation can channel greater resources toward growth and poverty reduction and can help mitigate future economic shocks.
  • Integration demands flexible planning that includes safety nets to guard against another global or regional economic crisis.

About the Authors

Geert Almekinders, Alex Mourmouras and Jianping Zhou are economists with the International Monetary Fund. Satoshi Fukuda is in the graduate program at the University of California, Berkeley.

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