The East Asian Financial Crisis and Regional Cooperation Research Paper by Mark Lewis

The East Asian Financial Crisis and Regional Cooperation
A look at the degree to which the East Asia financial crisis resulted in the pressing need for countries in the region to engage in cooperation and integration.
# 147443 | 4,945 words | 28 sources | APA | 2010 | GB
Published on Apr 05, 2011 in Economics (International) , Asian Studies (General)

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The essential focus of this paper is to discover whether the East Asia financial crisis has rendered conceptions of American hegemony redundant and whether ultimately, the crisis had a limited effect on the global dominance of the United States or whether it exemplified a wider trend towards reduced American influence on the global economic stage. The paper argues that the East Asia financial crisis does indeed herald the forthcoming end of American economic hegemony in the East Asia region. Above all, although a number of wider global trends highlight the degree to which American hegemonic power is reducing, the primary reason which accounts for reduced influence in the East Asia region is the increased regional cooperation which resulted from the crisis. Thus, although the crisis had a number of wider consequences, the ultimate issue of concern in this paper is the degree to which developing regional cooperation between the economies of East Asia has significantly reduced the power and influence of the United States.

Chapter One: The Causes of the East Asia Financial Crisis
Chapter Two: Regional Cooperation in East Asia Since 1997
Chapter Three: The Reduction of American Hegemony in the East Asia
Region and its Wider Consequences in Terms of Global Power Structures
Chapter Four: Conceptualisation of Developments and Arguments on the Basis of International Relations Theory

From the Paper:

"Accurately outlining the causes of the 1997 financial crisis has been the subject of vehement and protracted debate. Above all, such debate has centred on two opposite assumptions of what actually led to the crisis and its wider proliferation. The first argument was widely proffered at the time, particularly in the United States and among international organisations. The basic foundation of this outlook argued that the crisis had been caused almost entirely by internal processes within the economies of South East Asia. In particular, significant emphasis was placed on internal political failures in Thailand which consequently resulted in a series of disastrous economic decisions. Naturally, proponents of this viewpoint such as Ikenberry have focused on the interconnected nature of economic and financial processes between nation states. However, internal economic imprudence in the East Asia region was cited as the essential reason why the crisis spread so quickly to so many countries. "

Sample of Sources Used:

  • Agnew, J.A (2005) Hegemony: the new shape of global power. Philadelphia: Temple University Press.
  • Burchill, S et al (2009) Theories of International Relations. London: Palgrave Macmillan.
  • Davidson, P.J (2002) ASEAN: the evolving legal framework for economic cooperation. New York: Times Academic Press.
  • Dent, C.M (2008) East Asia Regionalism. London: Taylor & Francis.
  • Fischer, S (2003) 'Globalisation and its Challenges', American Economic Review (AEA Papers and Proceedings), 93 (2), May, pp. 1-30.

Cite this Research Paper:

APA Format

The East Asian Financial Crisis and Regional Cooperation (2011, April 05) Retrieved September 22, 2020, from

MLA Format

"The East Asian Financial Crisis and Regional Cooperation" 05 April 2011. Web. 22 September. 2020. <>