Project contributors: Werner Pascha (IN-EAST), Frank Rövekamp (Ludwigshafen University of Applied Sciences)
2014–2017; funded …

Project contributors: Werner Pascha (IN-EAST), Frank Rövekamp (Ludwigshafen University of Applied Sciences)
2014–2017; funded by Bank of Korea during 2014–2015
The East Asia Institute of the Ludwigshafen University of Applied Sciences (Prof. Dr. Frank Rövekamp), in cooperation with the IN-EAST of University of Duisburg-Essen (Prof. Dr. Werner Pascha), is engaged in a research project on behalf of the Bank of Korea, the South Korean central bank, on institutional mechanisms to secure international financial safety. On a global level, the International Monetary Fund, based in Washington D.C., has the mandate to handle such issues. However, the recent financial crisis in the Euro area and the Asian financial crisis of 1997/98 have shown that there is a demand for regional safety mechanisms as well. In the EU, the European Stability Mechanism (ESM) has emerged on this background, whereas East Asian economies have created the so-called Chiang Mai Initiative (CMI). The collaborative project with the Bank of Korea has the goal of developing ideas to improve the structure and processes of such regional initiatives further. The project shall lead to one or two joint publications with Frank Rövekamp.