Vietnam and East Asian Monetary Cooperation: Efforts and Policies

The article focuses on Vietnam's participation in East Asian monetary cooperation. It argues that monetary cooperation is necessary for the regional countries, including Vietnam. Perspectives on regional monetary cooperation are considered with the Chiang Mai Initiative in the short term, and a...

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Bibliographic Details
Published in:Asian politics & policy 2009-07, Vol.1 (3), p.463-488
Main Author: Thuy Van, Le Thi
Format: Article
Language:English
Subjects:
East Asia
Economic Change
Economic policy
Economic relations
International Cooperation
monetary cooperation
Monetary policy
Monetary unions
optimum currency area
Participation
Unions
Vietnam
working group
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Summary:The article focuses on Vietnam's participation in East Asian monetary cooperation. It argues that monetary cooperation is necessary for the regional countries, including Vietnam. Perspectives on regional monetary cooperation are considered with the Chiang Mai Initiative in the short term, and an Asian monetary system, Asian monetary fund, and Asian monetary union in the medium and long terms. More important, the author emphasizes Vietnam's efforts and policies in this cooperation. Vietnam has done a great deal to support East Asian monetary cooperation by joining many working groups within the context of ASEAN+3. However, more economic reforms should be undertaken to further upgrade Vietnam's participation in regional monetary cooperation. The author finally makes some recommendations that will help Vietnam's policy makers strengthen the country's participation in East Asian monetary cooperation.
ISSN:1943-0779
1943-0787
DOI:10.1111/j.1943-0787.2009.01135.x