Analysis of monetary integration in EU-East Asian: what lessions can East Asian draw from EU?

Zhou, Xiao Qing (2017) Analysis of monetary integration in EU-East Asian: what lessions can East Asian draw from EU? MA/MSc thesis, BCE Társadalomtudományi és Nemzetközi Kapcsolatok Kar, Világgazdasági Intézet.

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As the important components of international monetary reform, region monetary integration is facing an unprecedented reform. Region monetary integration refers to the process that a certain area of relevant countries and regions where the monetary and financial field start to coordinate and combine, then form a special unity, finally realize the system of monetary unification. Along with the increasing trend of collectivization, globalization, regionalization of economic competition, the common currency is becoming one of the most powerful financial weapon. In recent years the trend of regional economic integration is strengthening gradually, monetary collectivization trend is becoming more and more obvious, all of these trends lead to the formation of all kinds of regional monetary organizations in the field of international finance. The Euro area has always been the integration regional group with highest integration level in the world since it established. Although the European monetary system still lacks of resistance ability for fluctuation of international financial market, it still remain a directive significance for other monetary integration region. At the same time, the emerging economies in East Asian have become the world's important economic growth strength, but they still only have limited influence on the macroeconomic and financial market in the whole world, their monetary system still excessive reliance on the US dollars. So the proper monetary cooperation among the emerging economies in East Asian can not only help to maintain the stability of the macro economy and financial markets in the region and the whole world but also contribute to reduce the demand for the US dollar gradually, thus reducing the dependence on it. A stable and effective monetary integration system of this region is really necessary, not only for themselves but also for the whole world. Therefore, the experience and lessons from European monetary system is worthy of researching and learning by the East Asian economies. This thesis firstly elaborated the research background and significance, explain the research ideas and research methods. Secondly, it introduces and evaluate the related 4 theories of regional monetary integration. Thirdly, analyzing the process of European monetary integration which provides theoretical and practical basis for the East Asian monetary integration. In the following, introducing the current situation of the east Asian monetary integration and the existing difficulties. Through the introduction of some traditional theories, such as optimal currency area theory, I conduct a comparative analysis on monetary integration in East Asia and the European Union. Base on the comparative analysis I try to explore the implementation path of the East Asian monetary integration in this thesis. Based on all of above, I try to conclude this thesis. In generally, the prospect of the cooperation of East Asian is optimistic but it is still need a long and tough process to achieve the monetary integration finally.

Item Type:MA/MSc thesis
International relations
International economics
ID Code:10593
Specialisation:International Economy and Business
Deposited On:13 Feb 2018 13:45
Last Modified:02 Dec 2021 11:58

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