Japanese Yen as an Alternative Vehicle Currency in Asian Countries
AbstractMembers of Asian countries have been thinking about using another currency instead of the US dollar for regional trade. Hence, there is a strong case to study the Japanese yen as an alternative hard currency in this region for trade transaction. This paper investigates the long run cointegration to determine the possibility and feasibility to use yen as a future vehicle currency in the Asian region namely Malaysia, Singapore, Thailand, Indonesia, Philippines, China, Korea and India by examining their daily exchange rate movements denominated in yen. Empirical evidence shows that four out of eight countries, namely, Malaysia, Philippines, Singapore and Korea are the countries that support this hypothesis.
Download InfoTo our knowledge, this item is not available for download. To find whether it is available, there are three options:
1. Check below under "Related research" whether another version of this item is available online.
2. Check on the provider's web page whether it is in fact available.
3. Perform a search for a similarly titled item that would be available.
Bibliographic InfoArticle provided by IUP Publications in its journal The IUP Journal of Monetary Economics.
Volume (Year): VII (2009)
Issue (Month): 2 (May)
Contact details of provider:
You can help add them by filling out this form.
CitEc Project, subscribe to its RSS feed for this item.
- Lee, Grace H.Y. & Koh, Sharon G.M., 2012. "The prospects of a monetary union in East Asia," Economic Modelling, Elsevier, vol. 29(2), pages 96-102.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (G R K Murty).
If references are entirely missing, you can add them using this form.