"SHOULD EAST ASIA HAVE ITS OWN REGIONAL MONETARY FUND?" : THE ANALYSIS OF REGIONAL FINANCIAL COOPERATION IN EAST ASIA.

Abstract: Certainly, Asian Financial Crisis is a turning point in the history of East Asia, as it has activated regionalization process. One of the regionalist ambitions of East Asians is to set up their regional monetary fund. At the first sight, setting up regional monetary fund seems as an easy process. Nevertheless, in reality there are several factors that make it complicated, especially in East Asia. The purpose of this study was to analyze whether it is necessary and feasible to establish regional monetary fund in East Asia. The analysis includes both economic and political interpretations. Nevertheless, even if my research finds out it necessary and feasible to set up regional financial institution, it might not explain fully why it hasn't been established before or whether there are sufficient political circumstances to set up such institution.