Exchange Rate Coordination in Asia: Evidence using the Asian Currency Unit
AbstractThis paper evaluates the extent of exchange rate coordination among Asian economies using a hypothetical Asian Currency Unit. Rising interdependence among Asian economies makes it vital for these economies to have a certain degree of exchange rate stability. However, the empirical evidence using an Asian Currency Unit suggests a widening deviation in exchange rate movements of the Asian currencies. The deviation has been driven by the adoption of different exchange rate regimes by the participating countries indicating diverse policy objectives.
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
Bibliographic InfoPaper provided by Asian Development Bank Institute in its series ADBI Working Papers with number 356.
Length: 31 pages
Date of creation: 20 Apr 2012
Date of revision:
Contact details of provider:
Postal: Kasumigaseki Building 8F, 2-5, Kasumigaseki 3-chome, Chiyoda-ku, Tokyo 100-6008
Fax: (81-3) 3593-5571
Web page: http://www.adbi.org/
More information through EDIRC
exchange rate coordination; asia; asian currency unit; exchange rate regimes;
Other versions of this item:
- Abhijit Sen Gupta, 2012. "Exchange Rate Coordination in Asia : Evidence using the Asian Currency Unit," Macroeconomics Working Papers 23321, East Asian Bureau of Economic Research.
- Abhijit Sen Gupta, 2012. "Exchange Rate Coordination in Asia : Evidence using the Asian Currency Unit," Finance Working Papers 23321, East Asian Bureau of Economic Research.
- Abhijit Sen Gupta, 2012. "Exchange Rate Coordination in Asia : Evidence using the Asian Currency Unit," Governance Working Papers 23321, East Asian Bureau of Economic Research.
- F15 - International Economics - - Trade - - - Economic Integration
- F36 - International Economics - - International Finance - - - Financial Aspects of Economic Integration
- F55 - International Economics - - International Relations and International Political Economy - - - International Institutional Arrangements
This paper has been announced in the following NEP Reports:
- NEP-ALL-2012-05-02 (All new papers)
- NEP-CWA-2012-05-02 (Central & Western Asia)
- NEP-IFN-2012-05-02 (International Finance)
- NEP-MON-2012-05-02 (Monetary Economics)
- NEP-SEA-2012-05-02 (South East Asia)
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Kenen,Peter B. & Meade,Ellen E., 2008.
"Regional Monetary Integration,"
Cambridge University Press, number 9780521862509, October.
- Reinhart, Carmen & Rogoff, Kenneth, 2004.
"The modern history of exchange rate arrangements: A reinterpretation,"
14070, University Library of Munich, Germany.
- Carmen M. Reinhart & Kenneth S. Rogoff, 2004. "The Modern History of Exchange Rate Arrangements: A Reinterpretation," The Quarterly Journal of Economics, MIT Press, vol. 119(1), pages 1-48, February.
- Carmen M. Reinhart & Kenneth S. Rogoff, 2002. "The Modern History of Exchange Rate Arrangements: A Reinterpretation," NBER Working Papers 8963, National Bureau of Economic Research, Inc.
- Haruhiko Kuroda & Masahiro Kawai, 2002. "Strengthening Regional Financial Cooperation in East Asia," Asia Pacific Economic Papers 332, Australia-Japan Research Centre, Crawford School of Public Policy, The Australian National University.
- Masahiro Kawai & Shinji Takagi, 2005. "Towards regional monetary cooperation in East Asia: lessons from other parts of the world," International Journal of Finance & Economics, John Wiley & Sons, Ltd., vol. 10(2), pages 97-116.
- Im, Kyung So & Pesaran, M. Hashem & Shin, Yongcheol, 2003.
"Testing for unit roots in heterogeneous panels,"
Journal of Econometrics,
Elsevier, vol. 115(1), pages 53-74, July.
- Pasaran, M.H. & Im, K.S. & Shin, Y., 1995. "Testing for Unit Roots in Heterogeneous Panels," Cambridge Working Papers in Economics 9526, Faculty of Economics, University of Cambridge.
- Tom Doan, . "IPSHIN: RATS procedure to implement Im, Pesaran and Shin panel unit root test," Statistical Software Components RTS00098, Boston College Department of Economics.
- Levy-Yeyati, Eduardo & Sturzenegger, Federico, 2005. "Classifying exchange rate regimes: Deeds vs. words," European Economic Review, Elsevier, vol. 49(6), pages 1603-1635, August.
- C. Simon Fan & Xiangdong Wei, 2006. "The Law of One Price: Evidence from the Transitional Economy of China," The Review of Economics and Statistics, MIT Press, vol. 88(4), pages 682-697, November.
- Barry Eichengreen, 2006. "The Parallel-Currency Approach to Asian Monetary Integration," American Economic Review, American Economic Association, vol. 96(2), pages 432-436, May.
- Girardin Eric & Steinherr Alfred, 2009. "Regional Monetary Units for East Asia: Lessons from Europe," Working Papers id:1972, eSocialSciences.
- Levin, Andrew & Lin, Chien-Fu & James Chu, Chia-Shang, 2002.
"Unit root tests in panel data: asymptotic and finite-sample properties,"
Journal of Econometrics,
Elsevier, vol. 108(1), pages 1-24, May.
- Tom Doan, . "LEVINLIN: RATS procedure to perform Levin-Lin-Chu test for unit roots in panel data," Statistical Software Components RTS00242, Boston College Department of Economics.
- Masahiro Kawai & Ganeshan Wignaraja, 2009. "The Asian â€œNoodle Bowlâ€:Is It Serious for Business?," Working Papers id:1936, eSocialSciences.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Robert Hugh Davis).
If references are entirely missing, you can add them using this form.