Description

This paper reviews the major financial measures and economic adjustment strategies adopted by some Asian countries after the Asian Financial Crisis (AFC), analyzes the status of institutional and
regional cooperative efforts of ASEAN+3 economies to better manage cross-border capital flows
against the backdrop of globalized finance, and provides recommendations to enhance efforts with
which capital market elements and regulatory bodies in ASEAN+3 could work, steadily and in tandem,to maximize country gains from capital flows in particular, and from regional integration arrangements in general.
The background