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Promoting a greater financial stability after the 1997 and subprime crisis: exploring the opportunity of a regional monetary unit in East Asia

  • Yves Rannou
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    After the first Asian currency crisis, a financial turmoil has recently dragged the global economy along for the ride. We propose a roadmap for strengthening financial architecture in East Asia in confirming a scope for deeper monetary integration on the basis of their symmetry in macroeconomic disturbances. Specifically, we verify empirically via the Bayoumi and Eichengreen vector autoregression (VAR) approach the incidences of transitory and permanent shocks as a way of identifying plausible candidates to form an optimum currency area. A regional monetary integration would be to start with smaller sub-groupings that could culminate in a single currency area.

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    Article provided by Inderscience Enterprises Ltd in its journal Afro-Asian J. of Finance and Accounting.

    Volume (Year): 2 (2011)
    Issue (Month): 3 ()
    Pages: 210-229

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    Handle: RePEc:ids:afasfa:v:2:y:2011:i:3:p:210-229
    Contact details of provider: Web page: http://www.inderscience.com/browse/index.php?journalID=214

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