What is it about?
Assesses how East Asia's economic surveillance unit, the ASEAN+3 Macroeconomic Research Office (AMRO), has developed as an institution.
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Why is it important?
Economic surveillance is an essential component of financial cooperation. AMRO is a new organization that is expected to help the East Asian bailout fund (known as the Chiang Mai Initiative Multilateralization, or CMIM) in its work of preventing and managing currency crises. Unless AMRO is able to establish itself as an autonomous and highly capable organization, CMIM will have little choice but to rely on the International Monetary Fund to make decisions about bailouts when currency crises do occur.
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This page is a summary of: Institutionalizing Financial Cooperation in East Asia, Global Governance A Review of Multilateralism and International Organizations, September 2020, Brill,
DOI: 10.1163/19426720-02603005.
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