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The Palgrave Encyclopedia of Global Security Studies pp 1–4Cite as

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Asian Monetary Fund (AMF)

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Introduction

The Asian Monetary Fund (AMF) was a proposal made by Japanese financial authorities at the height of the Asian financial crisis of 1997. This proposal was made at the Group of Seven (G7)-International Monetary Fund (IMF) meetings held in Hong Kong in September of that year. The goal of the AMF was to overcome present and future economic crises in the region by securing a network meant for and funded by Asian countries. This entry will provide a brief overview of the circumstances and the considerations that contributed to the emergence, evolution, and failure of the idea, based on a few authoritative sources on the subject (Narine 2001; Amyx 2002; Liu 2002; Lipscy 2003; Masahiro 2015).

The Evolution of the AMF Idea

Initially, the creation of an IMF counterpart in Asia was first idealized when the Asian Development Bank (ADB) was established in 1966. Its premise was that the AMF would complement the activities of the ADB, similarly to the relationship of the IMF and the...

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References

  • Amyx, J. A. (2002, September). Moving beyond bilateralism? Japan and the Asian Monetary Fund (Asia Pacific economic papers no. 331). Canberra: Australia-Japan Research Centre.

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  • Lipscy, P. Y. (2003). Japan’s Asian monetary fund proposal. Stanford Journal of East Asian Affairs, 3(1), 93–104.

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  • Liu, H. C. K. (2002). The case for an Asian Monetary Fund. Asia Times Online. Retrieved originally from http://www.atimes.com/, https://henryckliu.com/page119.html. Accessed 20 Jan 2020.

  • Masahiro, K. (2015, May). From the Chiang Mai initiative to an Asian Monetary Fund (ADBI working paper series no. 527). https://www.adb.org/sites/default/files/publication/160056/adbi-wp527.pdf. Accessed 20 Jan 2020.

  • Narine, S. (2001). ASEAN and the idea of an “Asian Monetary Fund”: Institutional uncertainty in the Asia Pacific. In M. Caballero-Anthony & A. D. B. Cook (Eds.), Non-traditional security issues in Southeast Asia (pp. 227–254). Singapore: Institute of Southeast Asian Studies.

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Author information

Authors and Affiliations

  1. College of Social Sciences, University of the Philippines Cebu, Cebu, Philippines

    Claire Michaela M. Obejas

Authors
  1. Claire Michaela M. Obejas
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Correspondence to Claire Michaela M. Obejas .

Editor information

Editors and Affiliations

  1. University of Alberta, Alberta, AB, Canada

    Scott Romaniuk

  2. University for Peace, San Jose, Costa Rica

    Manish Thapa

  3. Nemzetkozi Tanulmanyok Intezet, Rm 503, Corvinus Univ, Inst of Intl Studies, Budapest, Hungary

    Péter Marton

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© 2020 The Author(s), under exclusive licence to Springer Nature Switzerland AG

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Obejas, C.M.M. (2020). Asian Monetary Fund (AMF). In: Romaniuk, S., Thapa, M., Marton, P. (eds) The Palgrave Encyclopedia of Global Security Studies. Palgrave Macmillan, Cham. https://doi.org/10.1007/978-3-319-74336-3_313-1

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  • DOI: https://doi.org/10.1007/978-3-319-74336-3_313-1

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  • Publisher Name: Palgrave Macmillan, Cham

  • Print ISBN: 978-3-319-74336-3

  • Online ISBN: 978-3-319-74336-3

  • eBook Packages: Springer Reference Political Science and International StudiesReference Module Humanities and Social SciencesReference Module Business, Economics and Social Sciences

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