东亚金融货币合作及其前景:超越CMI

Young-joon Park, Yonghyup Oh
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引用次数: 4

摘要

本文考察了东盟区域金融安全网的合作,并回顾了东亚地区单一货币和货币竞争的区域货币问题。我们指出东亚潜在的系统性风险以及区域监督的重要性。东盟3国的区域监督应进一步采取更强有力的同行审查和同行压力措施,并使东盟区域监督办公室成为一个资源充足的专业监督秘书处,以创造适用独立条件的能力。针对这一有效监督机制,我们建议设立协调委员会,通过确认其决定或将有关案件提交东盟- 3经济伙伴关系论坛,并提供可能的法律咨询,为东盟- 3经济伙伴关系论坛提供支持。清迈倡议多边化秘书处的机制化建设将加快亚洲货币基金组织等区域性货币机构的建立。当前的危机为东亚经济体追求货币国际化提供了足够的动力,并将开启东亚单一货币的可能性。
本文章由计算机程序翻译,如有差异,请以英文原文为准。
East Asian Financial and Monetary Cooperation and Its Prospect: Beyond the CMI
This paper examines the ASEAN 3 cooperation of regional financial safety nets, and reviews the regional monetary issues of a single currency and currency competition in East Asia. We point out potential systemic risks in East Asia and the importance of regional surveillance. ASEAN 3 regional surveillance should move forward to the stronger measures of peer review and peer pressure, and make the AMRO a well-resourced professional surveillance secretariat to create capacity to apply independent conditionality. To this effective surveillance mechanism, we propose to establish the Board of Coordination to support the ASEAN 3 ERPD by confirming its decision or remitting the relevant case to the ASEAN 3 ERPD and providing possible legal consultation. The institution building of the CMIM secretariat will accelerate the establishment of a regional monetary institution, e.g. an Asian Monetary Fund. The current crisis provides sufficient incentives for East Asian economies to pursue internationalization of their currencies, and it would open the possibility towards a single currency in East Asia.
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