Globalization and digitalization have transformed the financial landscape of ASEAN+3—the Association of Southeast Asian Nations (ASEAN) and the People's Republic of China, Japan, and the Republic of Korea. Despite impressive reforms, the region faces continued challenges. These include deepening corporate bond markets, coping with cross-border bank concentration risk, reducing dependence on the United States dollar, achieving sustainable infrastructure investments, addressing pension issues, and supporting fintech development. This edited volume highlights the potential for stronger regional financial cooperation to help address such challenges. It discusses lessons learned through financial cooperation since the Asian financial crisis and sets out policy considerations to help promote a more resilient financial future.
- Overview of Financial Development and Cooperation in ASEAN+3
- Sailing the Same Stormy Seas: Slow-Burn Contagion Risk in ASEAN+3
- The Global Monetary System and Use of Regional Currencies in ASEAN+3
- Fintech in ASEAN+3 and Implications for Financial Inclusion and Financial Stability
- Financing Sustainable Infrastructure Investment in ASEAN+3
- Pension Challenges in Aging Asia
- Regional Financial Cooperation in ASEAN+3: Taking Stock and Moving Forward