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Description
| - The paper addresses three issues: the financial crisis of 1997-1998 in Southeast Asia, and the European Union's financial crisis of 2008 followed by the sovereign debt crisis; policy adjustment actions in both regions in the area of economic coordination and areas of mutual policy inspiration for both regions. Both crises studied were regionally risk intensive. However, their natures were different. The Asian crisis was mainly externally-driven, while the EU one -- especially the sovereign debt part of it -- was predominantly of an internal nature. The policy adjustment corresponds to the nature of the crisis. In ASEAN it is characterised somewhat both by a deepening of regional cooperation and a widening of risk-pooling beyond the borders of the region (ASEAN Plus). On the EU side, the policy response privileges a strong deepening of policy cooperation coupled with a more narrow- looking geographical coverage. Crises offer a unique window for policy adjustment. ASEAN could consider deepening the multi-lateralisation in the single market, a gradual and low-intensity monetary cooperation and enhancing its institutional capacity. The EU can on its side fully implement its new rules and put them under the EU-27 roof. It can go beyond this and consider a broader economic partnership with some of the new instruments with the EFTA countries. Finally, it can also reflect on the ASEAN success with the enlargement of its regional influence -- how to strengthen its leadership in its closest neighbourhood (Balkans, North Africa, Eastern Partnership) by ensuring an area of stability and prosperity.
- The paper addresses three issues: the financial crisis of 1997-1998 in Southeast Asia, and the European Union's financial crisis of 2008 followed by the sovereign debt crisis; policy adjustment actions in both regions in the area of economic coordination and areas of mutual policy inspiration for both regions. Both crises studied were regionally risk intensive. However, their natures were different. The Asian crisis was mainly externally-driven, while the EU one -- especially the sovereign debt part of it -- was predominantly of an internal nature. The policy adjustment corresponds to the nature of the crisis. In ASEAN it is characterised somewhat both by a deepening of regional cooperation and a widening of risk-pooling beyond the borders of the region (ASEAN Plus). On the EU side, the policy response privileges a strong deepening of policy cooperation coupled with a more narrow- looking geographical coverage. Crises offer a unique window for policy adjustment. ASEAN could consider deepening the multi-lateralisation in the single market, a gradual and low-intensity monetary cooperation and enhancing its institutional capacity. The EU can on its side fully implement its new rules and put them under the EU-27 roof. It can go beyond this and consider a broader economic partnership with some of the new instruments with the EFTA countries. Finally, it can also reflect on the ASEAN success with the enlargement of its regional influence -- how to strengthen its leadership in its closest neighbourhood (Balkans, North Africa, Eastern Partnership) by ensuring an area of stability and prosperity. (en)
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Title
| - Economic Governance: What Can the EU and ASEAN Lear From Each Other After the Economic Crises?
- Economic Governance: What Can the EU and ASEAN Lear From Each Other After the Economic Crises? (en)
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skos:prefLabel
| - Economic Governance: What Can the EU and ASEAN Lear From Each Other After the Economic Crises?
- Economic Governance: What Can the EU and ASEAN Lear From Each Other After the Economic Crises? (en)
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skos:notation
| - RIV/62156489:43310/13:00205496!RIV14-MSM-43310___
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http://linked.open...avai/riv/aktivita
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http://linked.open...avai/riv/aktivity
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http://linked.open...iv/cisloPeriodika
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http://linked.open...vai/riv/dodaniDat
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http://linked.open...aciTvurceVysledku
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http://linked.open.../riv/druhVysledku
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http://linked.open...iv/duvernostUdaju
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http://linked.open...titaPredkladatele
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http://linked.open...dnocenehoVysledku
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http://linked.open...ai/riv/idVysledku
| - RIV/62156489:43310/13:00205496
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http://linked.open...riv/jazykVysledku
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http://linked.open.../riv/klicovaSlova
| - European Union, ASEAN, economic governance, policy coordination, crisis, lessons (en)
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http://linked.open.../riv/klicoveSlovo
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http://linked.open...odStatuVydavatele
| - SG - Singapurská republika
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http://linked.open...ontrolniKodProRIV
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http://linked.open...i/riv/nazevZdroje
| - Journal of Southeast Asian Economies
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http://linked.open...in/vavai/riv/obor
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http://linked.open...ichTvurcuVysledku
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http://linked.open...cetTvurcuVysledku
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http://linked.open...UplatneniVysledku
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http://linked.open...v/svazekPeriodika
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http://linked.open...iv/tvurceVysledku
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http://linked.open...n/vavai/riv/zamer
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issn
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number of pages
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http://localhost/t...ganizacniJednotka
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