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Asian rupee for a common electronic financial market of India and the ASEAN region

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  • Jack Penm

Abstract

Separate Indian and ASEAN stock markets with strong growth deriving from the information and communications technology revolution are seeking to become a more integrated common financial market for the India and the ASEAN countries. This aspiration could be thwarted if currencies and stock prices are excessively volatile. A well-integrated common electronic financial market underpinned by a common currency would reduce this problem. In this paper, we explore the necessity for and practicability of a currency union for India and the ASEAN region. The detected cointegrating relations indicate that an ASEAN and Indian currency union is likely to be developed.

Suggested Citation

  • Jack Penm, 2007. "Asian rupee for a common electronic financial market of India and the ASEAN region," International Journal of Electronic Finance, Inderscience Enterprises Ltd, vol. 1(4), pages 473-483.
    • Handle: RePEc:ids:ijelfi:v:1:y:2007:i:4:p:473-483
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