Empirical Analyses On The Monetary Cooperation Of Eastern Asia

Monetary cooperation is a research hot pot of the international finance. As an important part of the world economic pattern, the Eastern Asia attract a lot of attentions in its monetary cooperation. After the Asia Finance Crises had broke out, the Eastern Asia have strengthened cooperation in monetary. The foundation of CMI, ABF and some institutes were important achievements of this process.In this paper, some econometric models are used to analyze the fundaments of the cooperation in the Eastern Asia. Firstly, the OCA index is used to compare the integration level in the Eastern Asia around the finance crises.; Secondly, SVAR was used to analyze the asymmetric shocks in the Eastern Asia, and this result were compared with the EC. All the empirical research found an optimum result of the cooperation the in the Eastern Asia. Furthermore, this paper test the endogeneity of the monetary cooperation the Eastern Asia, and this hypothesis is supported by the empirical research. So the criteria of OCA theory will become loose as a result.At last ,this paper analyze the barriers in the monetary cooperation of the Eastern Asia, and some suggestions are given . Also , how to face the satiation to China is discussed at the end.