Integração monetária e financeira em regiões emergentes: a experiência recente do Pacífico Asiático pode servir de

The paper analyzes the recent effort to create institutional support for monetary and financial integration process in the Asia-Pacific region. We argue that the 1997-1998 financial crisis was the catalytic force behind the emergence of new cooperation mechanisms. Considering the European history and the theory of optimal currency areas we suggest that Asia-Pacific region doesn?t have all the preconditions for monetary integration. On the other hand, institutional advances in the post crisis period have created new hopes for a future integration. Finally, after the analysis of the Asian case we explore some comparisons with the Mercosur integration experience.