This paper provides a review and appraisal of financial integration initiatives and outcomes in Asia. For the purposes of the paper, the term Asia refers to economies in a geographical area stretching from Mongolia in the North-West, to Pakistan in the South-West, to Japan in the North-East, and to New Zealand in the South-East. This covers jurisdictions with a wide variety of economic and financial structures, from financial centers such as Hong Kong and Singapore with highly developed financial markets fully integrated with the global financial system, to economies such as Myanmar with only nascent financial markets. As a result, and because of the purposely brief nature of the paper, the discussion will necessarily be quite general touching on the main features of debates and outcomes rather than attempting to provide details of the financial integration process and achievements in each jurisdiction
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