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Abstract
The first decade of the new millennium saw the Global Financial Crisis affect many economies in ASEAN 5 3, including the degree and pace of financial integration, particularly interest rates. Recent events in the European Union and its potential impact in ASEAN 5 3 point to a revisiting on the importance of stability of currencies and interest rates as an integral part of financial integration. Using China and the Philippines as an initial study point, the results reveal increasing levels of integration within the region as a whole, but bilateral initiatives that will develop the capital and investment flows should be pursued vigorously.
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Abstract
The first decade of the new millennium saw the Global Financial Crisis affect many economies in ASEAN 5 3, including the degree and pace of financial integration, particularly interest rates. Recent events in the European Union and its potential impact in ASEAN 5 3 point to a revisiting on the importance of stability of currencies and interest rates as an integral part of financial integration. Using China and the Philippines as an initial study point, the results reveal increasing levels of integration within the region as a whole, but bilateral initiatives that will develop the capital and investment flows should be pursued vigorously.