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Lessons from the Asian Monetary Fund for the European Monetary Fund. CEPS Policy Brief No. 208, 16 April 2010

Oh, Yonghyup. (2010) Lessons from the Asian Monetary Fund for the European Monetary Fund. CEPS Policy Brief No. 208, 16 April 2010. [Policy Paper]

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    Abstract

    On March 24th the members of ASEAN plus three other major Asian economies (China, Japan and Korea) began operations of a fund from which member countries can swap their national currencies for US dollars within a pre-determined limit. This so-called "Chiang Mai Initiative Multilateralization" or CMIM will essentially become an Asian Monetary Fund, once its institutional structure is in place. This paper draws lessons from the Asian experience for the recent debate in Europe over the feasibility and desirability of creating a European stability fund.

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    Item Type: Policy Paper
    Uncontrolled Keywords: Korea.
    Subjects for non-EU documents: Countries > Japan
    EU policies and themes > Policies & related activities > economic and financial affairs > financial crisis 2008-on/reforms/economic governance
    Countries > China
    EU policies and themes > External relations > EU-Asia-general
    Subjects for EU documents: UNSPECIFIED
    EU Series and Periodicals: UNSPECIFIED
    EU Annual Reports: UNSPECIFIED
    Series: Series > Centre for European Policy Studies (Brussels) > CEPS Policy Briefs
    Depositing User: Phil Wilkin
    Official EU Document: No
    Language: English
    Date Deposited: 11 Aug 2010
    Page Range: p. 4
    Last Modified: 15 Feb 2011 18:34
    URI: http://aei.pitt.edu/id/eprint/14547

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