The Theory of Optimum Currency Areas and the Possibility of Forming a Yen Bloc in Asia PDF Download
Are you looking for read ebook online? Search for your book and save it on your Kindle device, PC, phones or tablets. Download The Theory of Optimum Currency Areas and the Possibility of Forming a Yen Bloc in Asia PDF full book. Access full book title The Theory of Optimum Currency Areas and the Possibility of Forming a Yen Bloc in Asia by C. H. Kwan. Download full books in PDF and EPUB format.
Author: C. H. Kwan
Publisher:
ISBN:
Category : Foreign exchange
Languages : en
Pages : 24
Get Book Here
Book Description
Author: C. H. Kwan
Publisher:
ISBN:
Category : Foreign exchange
Languages : en
Pages : 24
Get Book Here
Book Description
Author: Kazuko Shirono
Publisher: INTERNATIONAL MONETARY FUND
ISBN: 9781451871500
Category :
Languages : en
Pages : 32
Get Book Here
Book Description
This paper examines the role of Japan against that of China in the exchange rate regime in East Asia in light of growing interest in forming a currency union in the region. The analysis suggests that currency unions with China tend to generate higher average welfare gains for East Asian countries than currency unions with Japan or the United States. Overall, Japan does not appear to be a dominant player in forming a currency union in East Asia, and this trend is likely to continue if China's relative presence continues to rise in the regional trade.
Author: C. H. Kwan
Publisher: Rowman & Littlefield
ISBN: 0815798709
Category : Business & Economics
Languages : en
Pages : 233
Get Book Here
Book Description
In this important new book, C.H. Kwan asks whether the Japanese yen can, or will, replace the dollar as the key currency in East Asia. Kwan analyzes the implications for Japan and Asia's developing countries should they come together to form a yen bloc—a grouping of countries that use the yen as an international currency and maintain stable exchange rates against the yen. Combining academic analysis with his experience advising the Japanese prime minister and the Japanese minister of finance, Kwan concludes that a yen bloc might benefit Asia's developing countries—as well as Japan—while contributing to a more stable international monetary order. Kwan's book represents the first attempt to explore systematically the possibility of monetary integration in Asia. It also provides a vision for regional integration in Asia in the twenty-first century.
Author: Masanori Kuroki
Publisher:
ISBN:
Category : Monetary unions
Languages : en
Pages : 208
Get Book Here
Book Description
Author: Lee Khuay Khiang
Publisher:
ISBN:
Category :
Languages : en
Pages : 30
Get Book Here
Book Description
The East Asian financial crisis raised the necessity of a monetary union in the region. This paper looks into the anatomy of the financial crisis and revisits the feasibility of a monetary union to be formed in East Asia covering ASEAN plus China, South Korea and Japan. Several arguments and reasons have been offered that indicate the feasibility of formulating a monetary union under the Japanese hegemony, but may not currently be possible. Yet other areas being looked into include the aspect of the optimum currency area theory and barriers to postulate whether it is possible for monetary union to be ultimately formed.
Author: Hyoung-kyu Chey
Publisher:
ISBN:
Category :
Languages : en
Pages :
Get Book Here
Book Description
In recent years, dynamic debate has arisen as to the desirability and feasibility of creating a monetary union in East Asia. While the debate has relied heavily on the theory of optimum currency areas, this theory has weaknesses in explaining the actual formation of monetary unions. At this point, political economy analysis appears to demonstrate stronger explanatory power. This paper provides a systematic review of the main developments in the literature on optimum currency area theory and in the political economy literature on monetary union. In addition, it addresses the feasibility of an East Asian monetary union, by applying the findings in these two academic strands to the region. It finds that even though formation of an East Asian monetary union may be to some extent feasible from an economic perspective, the region's political situation does not appear favourable for creation of one.
Author: Barry Julian EICHENGREEN
Publisher:
ISBN:
Category : East Asia
Languages : en
Pages : 44
Get Book Here
Book Description
Author: C. H. Kwan
Publisher: Rowman & Littlefield
ISBN: 9780815798705
Category : Business & Economics
Languages : en
Pages : 236
Get Book Here
Book Description
In this important new book, C.H. Kwan asks whether the Japanese yen can, or will, replace the dollar as the key currency in East Asia. Kwan analyzes the implications for Japan and Asia's developing countries should they come together to form a yen bloc—a grouping of countries that use the yen as an international currency and maintain stable exchange rates against the yen. Combining academic analysis with his experience advising the Japanese prime minister and the Japanese minister of finance, Kwan concludes that a yen bloc might benefit Asia's developing countries—as well as Japan—while contributing to a more stable international monetary order. Kwan's book represents the first attempt to explore systematically the possibility of monetary integration in Asia. It also provides a vision for regional integration in Asia in the twenty-first century.
Author: U-sik Mun
Publisher: KIEP
ISBN:
Category : East Asia
Languages : en
Pages : 56
Get Book Here
Book Description
The formation of the yen bloc did not result in the economic and monetary integration of East Asian economies. Rather, it led to the increasing disintegration of East Asian economies. Compared to Japan, Asian regions and countries had to suffer from higher inflation. In fact, the farther the countries were away from Japan, the more their central banks had to print money and the higher their inflation was. Moreover, the income gap between Japan and other Asian countries widened. This means that the regionalization centered on the Japanese yen was destined to fail, suggesting that the Co-prosperity Area was nothing but a strategy of regional dominance, not of regional cooperation. The impact was quite long lasting, and it still haunts East Asian countries, contributing to the nourishment of their distrust vis-à-vis Japan, and throws a shadow on recent monetary and financial cooperation movements in East Asia. This experience highlights the importance of responsible actions on the part of leading countries to boost regional solidarity and cohesion for the viability and sustainability of a regional monetary system.
Author: Mr.Robert P. Flood
Publisher: International Monetary Fund
ISBN: 145184574X
Category : Business & Economics
Languages : en
Pages : 24
Get Book Here
Book Description
Starting with Friedman and Mundell the academic literature has conducted a high level debate concerning the design of cross-country monetary arrangements. That debate has become very complex and the data requirements necessary for appropriate application of the principles developed are far beyond the means of the very nations for which the principles might be valuable. In this paper we return to the simplicity of the early arguments and formalize them in a way that may be helpful for currency area decisions where little is known about economic structure.
