Moving Forward on the Establishment of an Effective Surveillance System and an Improved Financial Architecture for East Asia

Yungjong Wang and Wing Thye Woo
Discussion Paper 03-05, Korea Institute for International Economic Policy, 2003.

The goal of this study is to contribute to the efforts to construct regional financial arrangements that would reduce the occurrences of financial crisis, and lower their costs. This study confines itself to the issues related to crisis prevention through mutual surveillance. This study will review and assess existing regional or sub-regional arrangements covering information exchange, surveillance systems, and institutions. In particular, in relation to the current development of the Chiang Mai Initiative (CMI) the analysis focuses on how to strengthen mutual surveillance processes through regional policy dialogue.