콘텐츠 바로가기
로그인
컨텐츠

Category Open

Resources

tutorial

Collection of research papers and materials on development issues

home

Resources
Economy Financial Policy

Print

Comments on the Asian Economy’s Prospect and Policy Responses

Related Document
Frame of Image d for China-Japan-Korea Cooperation
- Nurture promising growth engines - Pioneer new markets - Developing knowledge networks
Need for Cooperation with Downstream Countries
- Enable specialization and mutually complementing relations
- Nurture favorable environment for regional integration
-2-
Future of Asian Economy(1)
 Projected Growth of Asian Economy
2010 2020 2030 2040 2050
27.4%
33.5%
38.9%
44.5%
50.6%
World GDP – 62tn
World GDP – 90tn
World GDP – 132tn
World GDP – 195tn
World GDP – 292tn
Share of Asia
(Source : Asia 2050, ADB(2011))  Under optimistic ‘Asian Century’ scenario
-3-
Future of Asian Economy(2)
 Two scenarios
Optimistic “Asian Century” Scenario Pessimistic “Middle Income Trap” Scenario
(Source : Asia 2050, ADB(2011))
-4-
Proper Model of Regional Economic Integration
 Is Europe the Ideal Future for Asia?
Full trade liberalization
Integrated financial market
Single currency, Single CB
(reserve pooling)
 Conditions for “Optimal Currency Area”  Symmetry of shocks (or Symmetry in business cycle)  Factors mobility  Similar stage of economic development (convergence among countries)  Coordinated fiscal policy and transfers
-5-
Need for Monetary Cooperation
Asia’s Intra-regional Trade share(%)
60 50 40 30 20 '90 '95 '00 '05 '10 '12 20
Intra-regional Portfolio share(%)
ASEAN+3 15 10 5 0 '01 '04 '07 '10 '12 Asia
ASEAN+3 Asia
(Source : IMF Directions of Trade Statistics)
(Source : IMF Coordinated Portfolio Investment Survey)
-6-
Promoting Local Currency Trade S


Full Text
Title Comments on the Asian Economy’s Prospect and Policy Responses
Similar Titles
Material Type Proceedings
Author(English)

Eun, Sung-Soo

Author(Korean)

은성수

Date 2014-02
Event

Strengthening Economic Cooperation in ASIA

Pages 14
Language English
File Type Documents
Original Format pdf
Subject Economy < Financial Policy
Holding 대외경제정책연구원(KIEP); 아시아개발은행연구소(ADBI)