Regional Financial Integration in East Asia against the Backdrop of Recent European Experiences

This article discusses recent trends in regional financial integration in East Asia and current efforts of the Association of Southeast Asian Nations (ASEAN) member countries to foster regional financial integration against the backdrop of three decades of experience with financial integration in Europe. It reviews the two major crisis episodes of the recent European financial history to illustrate the risks associated with comprehensive capital account liberalisation and financial integration without commensurate supervisory structures. The article highlights the importance of targeted macroprudential policies and the development of an adequate region-wide regulatory and supervisory framework to reduce the risks associated with regional – and hence international – financial integration

A framework for analyzing intergovernmental collaboration - The case of ASEAN tourism

Despite the continuous cooperative endeavour among ASEAN (Association of Southeast Asian Nations) member nations and the significant contribution tourism makes in the region, there are very few studies that examine ASEAN tourism collaboration. The majority of existing studies that are related to ASEAN economic cooperation deal with general framework agreements, namely ASEAN Free Trade Agreement (AFTA) and ASEAN Framework Agreement on Services (AFAS). Collaboration in specific economic sectors is overlooked by researchers