Financial Integration and Macrofinancial Linkages in Asia : Crises, Responses, and Policy Considerations

The Asian financial landscape has become more interconnected over the past 2 decades.

Previous financial crises have proven how volatility can transmit rapidly across an interconnected financial network.

Moreover, empirical analyses have shown how it can reverberate across the macroeconomy.

With a summary of lessons from past financial crises, this report also analyzes the impact of deeper financial integration on economic vulnerability.