The Mode And Path Choice Of East Asian Monetary Cooperation

After the 1997 Asian financial crisis,asian countries profoundly realize the importance of regional exchange rate arrangement and monetary Cooperation.And monetary cooperation in East Asia has been making great progress since the 21st century. With the deepening of the global financial crisis caused by the subprime crisis of United States, especially the impact on the enonomics of East Asian countries, Esat Asia countries pay more and more attention on monetary cooperation,and it has become the cnseencus to carry out a new phase of deeper regional monetary cooperation.In order to promote the development of East Asian monetary cooperaton and improve the competitive strength of East Asia, the paper chooses OCA theory as the studing basis,tries to build a synthetically frame,in order to test the feasibilty and dynamic evaluation of monetary cooperation,and then gives some suggestions on the mode and the path of East Asian monetary cooperation.The paper mainly cnsists of five chapters:the first chapter includes the purpoes and the significance of the paper,the literature review and the researching methods,contents and innovations.Secondly,the paper introduces the classical regional monetary cooperation theory-OCA(The Theory of Optimal Currency Area),inculding the tradional OCA criterion and its development(the benefits and costs nalysis and the"One market One Currency"theory),and these theories privide East Asian countries with a strong theory basis.The third part analsizes the current situation of East Asian monetary cooperation.The analysis includes Chiang Mai Inatiative, Asian Bond Fund(ABF).ASEAN10+3 Cooperation Framework and kinds of bilateral or multilateral policy communication mechanism.In the fourth chapter,the paper gives us a comprehensive comparision between European Mode and American Mode,which can help East Asian countries to deepen regional monetary cooperation and to find the proper mode and path of monetary cooperation.At last,based on the above analysis and the reality of East Asian,the paper tries to find out the suitable mode and path of East Asian monetary cooperation,furthermore,the paper points out the difficalties of East Asian monetary cooperation and gives us some advice in order to promote the East Asia moetary Cooperation.