Future of Regional Cooperation in Asia and the Pacific

Abstract

Although many essays in this book were written before the coronavirus pandemic, their themes resonate even more directly in the wake of the crisis. The joint provision of Asian public goods will advance Asian interests not just in health but also in many other fields. Moreover, "strengthening the bond within Asia will enable the region to contribute to solving global issues." Asian cooperation has never been more important than today, given global uncertainty and wavering leadership. The book addresses this challenge with a sophisticated analytical framework and state-of-the-art econometric studies of regional public goods arising in infrastructure, investments, trade and finance. But it does not stop there, it also offers recommendations for institutional change. For example, it shows that financial integration has lagged trade and investment cooperation, with frequent adverse effects on regional financial stability, and then offers practical suggestions for work in those areas. The book will be an excellent resource for scholars of regional economic connections, policy makers committed to better regional institutions, and indeed all serious students of Asian integration.