This book contributes to the theoretical and empirical literature on Asian regionalism, with a focus on the innovations needed to reform the current institutional architecture in Asia. After reviewing the key issues and challenges related to the political economy of Asiäs economic cooperation and integration, the book discusses various aspects of regionalism from political and economic perspectives. It looks at the rationale for regional collective action and reviews the trend of economic integration with a focus on the implications of the global financial crisis. In addition to reviewing the key issues related to the development of regional institutions for integration, the book analyzes issues such as trade and finance and deals with the implications of regionalism in terms of the introduction of domestic reforms in Asian countries before discussing the possible formation of a region-wide economic community. The eight chapters of the book are based on respective papers initially prepared for the Asian Development Bank Institute Conference 2010.

Presents new ideas and perspectives on the creation of an Asian economic community

Chapter 1. The Political Economy of Asian Regionalism: Issues and Challenges (Giovanni Capannelli and Masahiro Kawai).- Chapter 2. Foundations of Collective Action in Asia: Theory and Practice of Regional Cooperation (Amitav Acharya).- Chapter 3. Asian Regionalism after the Global Financial Crisis (Gregory Chin).- Chapter 4. Managing Asia's Free Trade Agreements (Shujiro Urata).- Chapter 5. Regional Financial Architecture beyond the Global Financial Crisis (Soyoung Kim and Doo Yong Yang).- Chapter 6. Promoting Domestic Reforms through Regionalism (Philippa Dee and Anne McNaughton).- Chapter 7. Institutions for Asian Integration: Innovation and Reform (Giovanni Capannelli and See Seng Tan).- Chapter 8. Toward an Asian Economic Community? (Nagesh Kumar).