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Category :
Languages : en
Pages :

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Author: Paola Subacchi
Publisher:
ISBN:
Category :
Languages : en
Pages : 29

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As all eyes are on the strategy and policy measures of the People's Republic of China (PRC) to push the international use of the yuan, this paper turns to the internationalization of the Japanese yen and compares it with what the PRC is doing. There are some fundamental differences in the regional context and in the pattern of regional integration, and these distinguish the PRC's current strategy from the Japanese experience in the 1980s. The yen's development as an international currency, and the comparison with the PRC's strategy, highlight the importance of regional integration as a way to overcome network externalities and market inertia. Using an analytical framework that assesses both the range of different roles (the scope) and geographical scale (the domain) of a currency in the global market, the paper suggests that economic fundamentals alone, albeit essential, are not sufficient to warrant a fully fledged scope and global domain of the currency. The paper concludes by suggesting that in the next decade the PRC yuan will become Asia's leading currency due to the PRC's deep economic integration in the region, and that the Japanese yen's function as an international asset and store of value can be further enhanced if Tokyo's competitiveness as a leading international financial center is improved.

Author: Li Xiao
Publisher: Enrich Professional Pub Limited
ISBN: 9789814339056
Category : Business & Economics
Languages : en
Pages : 348

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This series delves into Chinese currency reform, a crucial and inevitable policy choice of China. With the continuous rise in the status and importance of China in regional and global economies, the impact of Renminbi—the official currency of the People's Republic of China—is growing steadily. Based on recent theoretical frameworks and quantitative analyses, this series explores the relationship between Chinese banking system reform, regionalization and internationalization of Renminbi, as well as the possible cooperation between Renminbi, Yen and other Asian currencies. Exploring the need, viability, and path toward cooperation between the Renminbi and the Yen, the two dominant East Asian currencies, this book also provides an in-depth analysis of the significance of the two currencies in shaping the future situation of East Asia.

Author: Kazuko Shirono
Publisher: INTERNATIONAL MONETARY FUND
ISBN: 9781451871500
Category :
Languages : en
Pages : 32

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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: Carsten Hefeker
Publisher:
ISBN:
Category :
Languages : en
Pages : 44

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Author: Confucius
Publisher: Cosimo, Inc.
ISBN: 1605206431
Category : Religion
Languages : en
Pages : 520

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Notable not only for its comprehensiveness but also for its inclusion of the Chinese pictograms, this complete text of the *Analects* of the greatest philosopher of Chinese history is a must-own volume for any student of Confucius (551Bi479 Be. From the disposition of a land's rulers to the value of prayer, the thoughts of Confucius have powerfully shaped the moral life and political structures of Asian nations, and influenced the direction of the Western world as well. Here, Legge offers an enlightening introduction to the *Analects,* copious notes that place the sayings in cultural context, and much more assistance for the lay reader in understanding the depth of Confucius' wisdom. This three-in-one volume, originally published in this form in 1893, also includes *The Great Learning,* the Confucian illustration of illustrious virtue, and *The Doctrine of the Mean,* the thinker's explication of the path of duty. Scottish scholar JAMES LEGGE (1815-1897) was the first professor of Chinese language and literature at Oxford University, serving from 1876 to 1897. Among his many books are The Life and Teaching of Confucius (1867), The Religions of China (1880), and the 50-volume Sacred Books of the East (1879-1891).

Author: Vinh Q. T. Dang
Publisher:
ISBN:
Category :
Languages : en
Pages : 0

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Using highly comparable local retail prices of 146 goods and services across 18 Asian countries over 1990-2014, we analyse price dispersion and test convergence to the law of one price (LOP) for these prices around three price benchmarks--Asia-average, Japan and China prices--to gain insight about market integration in overall Asia as well relative integration of Asian economies to Japan and China. Cross-Asia price dispersion around China-price benchmark, for both tradables and non-tradables, diminishes significantly over the sample period whereas that around Japan-price benchmark increases considerably, particularly after the 2008 crisis. There is convergence to the LOP for about half of goods and services in China- and Asia-average price benchmarks. The percentage of convergent prices is significantly smaller in Japan-price benchmark. Direct estimates of the convergence speed parameter also confirm these observations. Overall, our results show evidence of increasing economic integration in Asia in the last two decades. The process of price convergence appears to be driven by the emergence of China as the centre of economic gravity in the region. There is much room for improvement as economic integration in Asia is still far below that in Europe in the 1990s or USA in the 1980s.

Author: Mr.George S. Tavlas
Publisher: International Monetary Fund
ISBN: 1451930992
Category : Business & Economics
Languages : en
Pages : 61

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The role of the Japanese yen as an international currency is assessed. It is found that the determinants of international-currency use imply some increase for the yen’s use in international finance; however, the implications for the yen’s use in international trade are mixed. It is also shown that, despite Japan’s emergence as the world’s largest net creditor nation, Japan’s capital outflows have not significantly facilitated the yen’s internationalization. Data are presented showing that, although the yen’s use as an international currency has increased, it is still rather modest. Wider use of the yen as a regional currency in Asia has occurred, though a “yen-zone” does not appear to be emerging.

Author:
Publisher:
ISBN:
Category : China
Languages : en
Pages : 1228

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Author: Robert Rowan
Publisher: John Wiley & Sons
ISBN: 111805668X
Category : Business & Economics
Languages : en
Pages : 191

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The first A-to-Z guide for successfully working in foreign currency environments Destined to become an essential desktop tool helping professionals build a solid foundation in the background, history, and fundamental mechanics of foreign currency and exchange rates, this must-have guide allows you to report past transactions accurately and also to forecast the impacts that volatile exchange rates could have on your business. Packed with everything you need to know about exchange rate requirements, including world currency formats and key links to additional resources, this is the single source you'll want to have at your side to understand and successfully use foreign currency reporting concepts. Get from Yen to Euro without losing your way Clarifies an intimidating topic into practical application Helps you function effectively in the multicurrency reporting environment Addresses common points of confusion Demystifies IFRS Your company could swing from profit to loss without a single change in operations, simply by movement of exchange rates. Get ready with the on-the-spot foreign currency answers you need in Foreign Currency Financial Reporting from Euro to Yen to Yuan. It's the easy-to-use, definitive source you can turn to for a clear, concise, practical understanding of multicurrency environments.