Nonhegemonic or Hegemonic Cooperation? Institutional Evolution of East Asian Financial Regionalism
DC Field | Value | Language |
---|---|---|
dc.contributor.author | Lee, Yong Wook | - |
dc.date.accessioned | 2021-09-04T17:43:29Z | - |
dc.date.available | 2021-09-04T17:43:29Z | - |
dc.date.created | 2021-06-18 | - |
dc.date.issued | 2015-04 | - |
dc.identifier.issn | 2233-470X | - |
dc.identifier.uri | https://scholar.korea.ac.kr/handle/2021.sw.korea/93975 | - |
dc.description.abstract | This article undertakes to identify the key features of institutional cooperation in East Asia to promote financial regionalism. The process employed by this study involves tracking the institutional evolution of East Asian financial cooperation, and empirically comparing and contrasting two cases to achieve this article's purpose: the emergence and development of the Chiang Mai Initiative (CMI) and China's recent initiative for the Asian Infrastructure Investment Bank (AIIB). The results demonstrate that CMI, which is widely regarded as one of the most robust institutional arrangements in East Asia, is institutionalized in the form of "nonhegemonic cooperation" by the ASEAN plus Three countries. "Nonhegemonic cooperation" refers to intestate institutional cooperation with the absence of a single actor (or state) that has veto power and is predominant in setting its agendas. This institutional development is contrary to the theoretical expectations of the mainstream IR literature, such as neorealism and neoliberal institutionalism. In contrast, however, the aim of China's AIIB initiative appears to be the promotion of China-centered regional financial cooperation that diverges from CMI-style non-hegemonic cooperation. Will East Asian cooperation be institutionally headed toward a hegemonic form? Or, will CMI-style nonhegemonic cooperation survive China's rise? The article concludes by examining the extant theories of institutional cooperation. Particular attention is paid to the question of whether the rational institutional design approach can account for hegemonic and nonhegemonic cooperation. Future research is also suggested. | - |
dc.language | English | - |
dc.language.iso | en | - |
dc.publisher | KOREAN ASSOC INT STUDIES | - |
dc.title | Nonhegemonic or Hegemonic Cooperation? Institutional Evolution of East Asian Financial Regionalism | - |
dc.type | Article | - |
dc.contributor.affiliatedAuthor | Lee, Yong Wook | - |
dc.identifier.doi | 10.14731/kjis.2015.04.13.1.89 | - |
dc.identifier.wosid | 000437630200004 | - |
dc.identifier.bibliographicCitation | KOREAN JOURNAL OF INTERNATIONAL STUDIES, v.13, no.1, pp.89 - 115 | - |
dc.relation.isPartOf | KOREAN JOURNAL OF INTERNATIONAL STUDIES | - |
dc.citation.title | KOREAN JOURNAL OF INTERNATIONAL STUDIES | - |
dc.citation.volume | 13 | - |
dc.citation.number | 1 | - |
dc.citation.startPage | 89 | - |
dc.citation.endPage | 115 | - |
dc.type.rims | ART | - |
dc.type.docType | Article | - |
dc.identifier.kciid | ART001989715 | - |
dc.description.journalClass | 2 | - |
dc.description.journalRegisteredClass | kci | - |
dc.relation.journalResearchArea | International Relations | - |
dc.relation.journalWebOfScienceCategory | International Relations | - |
dc.subject.keywordAuthor | hegemony | - |
dc.subject.keywordAuthor | nonhegemonic institutional cooperation | - |
dc.subject.keywordAuthor | Chiang Mai Initiative Multilateralization | - |
dc.subject.keywordAuthor | Asian Infrastructure Investment Bank | - |
dc.subject.keywordAuthor | New Development Bank | - |
dc.subject.keywordAuthor | East Asia | - |
dc.subject.keywordAuthor | institution design | - |
Items in ScholarWorks are protected by copyright, with all rights reserved, unless otherwise indicated.
(02841) 서울특별시 성북구 안암로 14502-3290-1114
COPYRIGHT © 2021 Korea University. All Rights Reserved.
Certain data included herein are derived from the © Web of Science of Clarivate Analytics. All rights reserved.
You may not copy or re-distribute this material in whole or in part without the prior written consent of Clarivate Analytics.