ADBI Working Paper Series REGIONAL AND GLOBAL FINANCIAL SAFETY NETS: THE RECENT EUROPEAN EXPERIENCE AND ITS IMPLICATIONS FOR REGIONAL COOPERATION IN ASIA Zsolt Darvas No. 712 April 2017 Asian Development Bank Institute Zsolt Darvas is senior fellow at Bruegel and senior research Fellow at the Corvinus University of Budapest. The views expressed in this paper are the views of the author and do not necessarily reflect the views or policies of ADBI, ADB, its Board of Directors, or the governments they represent. ADBI does not guarantee the accuracy of the data included in this paper and accepts no responsibility for any consequences of their use. Terminology used may not necessarily be consistent with ADB official terms. Working papers are subject to formal revision and correction before they are finalized and considered published. The Working Paper series is a continuation of the formerly named Discussion Paper series; the numbering of the papers continued without interruption or change. ADBI’s working papers reflect initial ideas on a topic and are posted online for discussion. ADBI encourages readers to post their comments on the main page for each working paper (given in the citation below). Some working papers may develop into other forms of publication. Suggested citation: Darvas, Z. 2017. Regional and Global Financial Safety Nets: The Recent European Experience and Its Implications for Regional Cooperation in Asia. ADBI Working Paper 712. Tokyo: Asian Development Bank Institute. Available: https://www.adb.org/publications/regional-and-global-financial-safety-nets Please contact the authors for information about this paper. Email:
[email protected] Paper prepared for the Conference on Global Shocks and the New Global/Regional Financial Architecture, organized by the Asian Development Bank Institute and S.