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Title: Currency Cooperation in East Asia
Authors: HU YANLI
Keywords: Currency cooperation, Optimal Currency Area, OCA index, exchange rate
Issue Date: 12-Nov-2008
Citation: HU YANLI (2008-11-12). Currency Cooperation in East Asia. ScholarBank@NUS Repository.
Abstract: Nowadays, economic integration has become a global trend, the whole international market has been joined together, and the international monetary relationships have become tighter and tighter. International currency cooperation means that two or more countries or international organizations whose monetary relationships are highly interdependent, will cooperate with each other in monetary policy, exchange rate policy, reserve policy, foreign exchange market intervention, monetary cooperation strategy and so on. This paper studies the feasibility and operationalization of currency cooperation in East Asia (b ASEAN Plus Threeb member countries). We use Optimal Currency Area theory and OCA index approach to estimate the possibility of forming a currency union in this region. The findings indicate that while the member countries of b ASEAN Plus Threeb have potential to adopt monetary cooperation policy, however, it is unpractical for all of these countries to join in the currency cooperation union in a short time. We suggest that East Asian countries could form some feasible sub-regions and do the currency cooperation step by step.
Appears in Collections:Master's Theses (Open)

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