INTEGRAÇÃO MONETÁRIA E FINANCEIRA NA ÁSIA E NO MERCOSUL

Abstract

In the aftermath of 1997-98 financial crises the asian countries initiated a more ambitious process of economic and institutional coordination. In a long term scenario that movement opens a new perspective: the emulation of European integration process, culminating with the creation of a common currency. In this paper we explore the recent effort of financial cooperation between asian economies. Using the optimum currency areas approach why try to identify some opportunities and limits for monetary integration in the asian case. We replicate this exercise to the Mercosur's major partners. We assume that any integration process is political in essence. So our empirical results are nothing but an exploratory exercise. We can't deny the possibility of new advances in the integrationist, because its ultimate determinants were not considered in our empirical treatment.