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Invoice Currency Choice and Exchange Rate Risk Management in Japanese Firms' Trade Network: "RIETI Survey on Japanese Overseas Subsidiaries 2010" (Japanese)

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  • ITO Takatoshi
  • KOIBUCHI Satoshi
  • SATO Kiyotaka
  • SHIMIZU Junko

Abstract

This paper provides a summary of the invoice currency choice and the exchange rate risk management of Japanese overseas subsidiaries based on the questionnaire survey sent and responded in August 2010. Our survey results show that the growing overseas production and sales network promotes U.S. dollar invoicing rather than Japanese yen invoicing, especially in Asia. Regarding currency risk management, most of the Japanese overseas subsidiaries, particularly located in Asia, manage currency risk on the basis of their own judgment. Under the circumstance that the world economy faces a turning point, these findings will give us important insights into the desirable currency regime of Asian countries and also provide meaningful policy implications for possible monetary cooperation in the region.

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File URL: http://www.rieti.go.jp/jp/publications/dp/11j070.pdf
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Bibliographic Info

Paper provided by Research Institute of Economy, Trade and Industry (RIETI) in its series Discussion Papers (Japanese) with number 11070.

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Length: 81 pages
Date of creation: Nov 2011
Date of revision:
Handle: RePEc:eti:rdpsjp:11070

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