About Peter J. Morgan
Peter J. Morgan is a senior consulting economist and advisor to the dean at ADBI.What makes an effective international financial safety net?
The global financial crisis showed the need for a large-scale and effective international financial safety net (IFSN). Although East Asia has had a regional financial arrangement (RFA) since 2000 (the Chiang Mai Initiative1), it was not tapped during the global financial crisis for a variety of reasons. Our recent study examines the requirements for an effective IFSN. It should have adequate resources to deal with multiple crises, be capable of making a rapid and flexible response, and not be encumbered by historical impediments such as the IMF stigma that would limit its acceptance by recipient countries. Oversight of the IFSN needs to be based on cooperation between global and regional forums, for example, in the case of Asia, the G20 and ASEAN+3.
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- Transforming ASEAN: Advancing Regional Integration, Social Inclusion, and Environmental Sustainability
- Development of the Creative Economy in Asia and the Pacific
- Kashima City’s Great Transformation: Where Industry Meets Community
- Mechanization Driving the Future of Agriculture in Asia
- Natural Capital: Valuing Nature to Protect and Restore Ecosystem Services for Sustainable Development
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