Download or read book The Theory of Optimum Currency Areas and the Possibility of Forming a Yen Bloc in Asia written by C. H. Kwan and published by . This book was released on 1997 with total page 24 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Yen Bloc or Yuan Bloc An Analysis of Currency Arrangements in East Asia written by Kazuko Shirono and published by INTERNATIONAL MONETARY FUND. This book was released on 2009-01-01 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Download or read book Yen Bloc written by C. H. Kwan and published by Rowman & Littlefield. This book was released on 2004-06-23 with total page 233 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Download or read book The Theory of Optimum Currency Areas and the Possibility of Monetary Union in Asia written by Masanori Kuroki and published by . This book was released on 2004 with total page 208 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Is an Asian Monetary Union Under a Yen Bloc Still Possible written by Lee Khuay Khiang and published by . This book was released on 2010 with total page 30 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Download or read book An Overview of Currency Union written by Sam-mo Kang and published by 대외경제정책연구원. This book was released on 2002 with total page 66 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Yen Bloc written by C. H. Kwan and published by Rowman & Littlefield. This book was released on 2004-06-23 with total page 236 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Download or read book A Political Economic Critique on the Theory of Optimum Currency Areas and the Implications for East Asia written by Hyoung-kyu Chey and published by . This book was released on 2014 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Download or read book A Theory of Optimum Currency Areas written by Mr.Robert P. Flood and published by International Monetary Fund. This book was released on 1992-05-01 with total page 24 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Download or read book Is Asia an Optimum Currency Area written by Barry Julian EICHENGREEN and published by . This book was released on 1996 with total page 44 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Destined to Fail written by U-sik Mun and published by KIEP. This book was released on 2008 with total page 56 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Download or read book A Formal Model of Optimum Currency Areas written by Mr.Tamim Bayoumi and published by International Monetary Fund. This book was released on 1994-04-01 with total page 22 pages. Available in PDF, EPUB and Kindle. Book excerpt: A model of optimum currency areas is presented using a general equilibrium model with regionally differentiated goods. The choice of a currency union depends upon the size of the underlying disturbances, the correlation between these disturbances, the costs of transactions across currencies, factor mobility across regions, and the interrelationships between demand for different goods. It is found that, while a currency union can raise the welfare of the regions within the union, it unambiguously lowers welfare for those outside the union.
Download or read book Asian Monetary Integration written by Woosik Moon and published by Edward Elgar Publishing. This book was released on 2012 with total page 241 pages. Available in PDF, EPUB and Kindle. Book excerpt: Numerous ideas for monetary and financial cooperation in East Asia have been proposed both within and outside the region since the financial crisis in Asia. Despite this strong level of interest, however, there are few studies that aim to comprehensively address the issue from multiple perspectives. This insightful book redresses the balance and illustrates how East Asian countries plan to take advantage of their rising economic power in rearranging the new international monetary and financial order in the post-crisis era. The expert contributors examine the history, conditions and current efforts towards monetary integration in Asia and explore possible future paths, highlighting the roles and perspectives of East Asian countries in the integration process. They consider how East Asian economies could establish their own zone of monetary stability, and show that monetary stability cannot be separately addressed from the issues of economic growth and solidarity. Without economic growth and solidarity, there would be no purpose in pursuing monetary integration, therefore all three challenges must be simultaneously addressed. Against this backdrop, the book tackles the issues of East Asian monetary integration underpinned by the broad framework of economic growth and solidarity. Scholars of economics, monetary integration, Asian studies and regionalism will find this book to be an illuminating and thought-provoking read.
Download or read book East Asia s Monetary Future written by Suthiphand Chirathivat and published by Edward Elgar Publishing. This book was released on 2005-01-01 with total page 272 pages. Available in PDF, EPUB and Kindle. Book excerpt: Leading scholars from East Asia, Europe and the US contribute new insights to the key questions facing the organization and future of the monetary system in East Asia. Central questions discussed and analysed in the book include, amongst others: should the region move towards monetary union? Should countries peg their exchange rates to the US dollar? Is complete dollarization an option for East Asia? The authors argue that, having realized price stability over the last twenty years, in contrast to Latin America and Africa, the next logical step would be the gradual formation of various currency blocs within the region. This comprehensive discussion of the fundamental issues at stake will ensure the book's appeal to academics and researchers of Asian studies and financial economics. Financial experts working in this area and policymakers will also find much of interest to them within this book.
Download or read book Optimal Currency Areas in East Asia written by Chee Heong Quah and published by . This book was released on 2012 with total page 372 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Regional Integration Europe and Asia Compared written by Woosik Moon and published by Routledge. This book was released on 2017-07-05 with total page 250 pages. Available in PDF, EPUB and Kindle. Book excerpt: The aim of this book is to examine and compare the integration process in both Europe and Asia, and to draw some possible lessons for East Asia from the European experience, which culminated with the establishment of the economic and monetary union. The book embraces the political dimension of integration (peace and security), economic, trade and monetary aspects, and cultural aspects. Written by well-known experts in the field of integration, this book represents one of the first attempts at comparing Europe and Asia in the process of integration, by incorporating the latest developments in the field. The main theme of the book - integration in Asia from a comparative perspective - has been relatively unexplored as most experts in the field of integration are also 'area experts' (i.e. European integration experts or Asian experts). The contributors to the book provide a distinctive perspective based upon their understanding of integration (political, economic, and socio-cultural) across various regions of the world.
Download or read book Costs and Benefits of Economic Integration in Asia written by Robert J. Barro and published by Oxford University Press. This book was released on 2011-01-04 with total page 304 pages. Available in PDF, EPUB and Kindle. Book excerpt: Costs and Benefits of Economic Integration in Asia brings together authoritative essays that identify and examine various initiatives to promote economic integration in Asia.
