How has ASEAN+3 financial cooperation affected global financial governance?

IF 1.7 3区 社会学 Q2 INTERNATIONAL RELATIONS International Relations of the Asia-Pacific Pub Date : 2021-01-23 DOI:10.1093/irap/lcaa017
William Kring, W. Grimes
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引用次数: 2

Abstract

In the wake of the Asian Financial Crisis, East Asia’s efforts to enhance regional financial cooperation raised the possibility of East Asia playing a more assertive role in global financial governance. However, despite the region’s increased voice in governance and economic weight, East Asian financial systems and markets have mostly adapted to global norms developed in New York, London, and Washington, DC. We argue that the failure of East Asia to push an alternative vision of financial governance reflects both the lack of regional political unity and, more crucially, the divisions of interests both between and within key East Asian economies. Despite nearly universal regional dissatisfaction with global standards and institutions in the wake of the Asian Financial Crisis, these two factors have combined to prevent the development of a distinctive regional model that could be promoted at the global level.
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东盟+3金融合作如何影响全球金融治理?
亚洲金融危机后,东亚加强区域金融合作,为东亚在全球金融治理中发挥更大作用提供了可能。然而,尽管该地区在治理和经济影响力方面的话语权不断增强,但东亚金融体系和市场基本上已经适应了纽约、伦敦和华盛顿特区制定的全球规范。我们认为,东亚未能推动另一种金融治理愿景,既反映了区域政治团结的缺乏,更重要的是,也反映了东亚主要经济体之间和内部的利益分歧。尽管在亚洲金融危机之后,该地区几乎普遍对全球标准和制度感到不满,但这两个因素加在一起,阻碍了可以在全球层面推广的独特区域模式的发展。
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来源期刊
CiteScore
2.70
自引率
7.10%
发文量
14
期刊介绍: International Relations of the Asia-Pacific is an exciting journal that addresses the major issues and developments taking place in the Asia-Pacific. It provides frontier knowledge of and fresh insights into the Asia-Pacific. The journal is a meeting place where various issues are debated from refreshingly diverging angles, backed up by rigorous scholarship. The journal is open to all methodological approaches and schools of thought, and to ideas that are expressed in plain and clear language.
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