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Exchange rate systems and linkages in the pacific basin

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  • Su Zhou

Abstract

This paper analyzes the exchange rate systems of 10 Pacific Basin economies and linkages of their currencies with the major currencies. The recent advances in time series analysis, including unit root tests and cointegration tests, are utilized for this purpose. The results suggest that while many Pacific Basin developing economies are inclined to have a peg or crawling peg system and peg their currencies primarily to the U.S. dollar, the influence of the Japanese yen in this region is also strong, especially on the exchange rates of the Asian newly industrializing economies. For Australia and New Zealand, their exchange rates move in tandem. Copyright International Atlantic Economic Society 1998

Suggested Citation

  • Su Zhou, 1998. "Exchange rate systems and linkages in the pacific basin," Atlantic Economic Journal, Springer;International Atlantic Economic Society, vol. 26(1), pages 66-84, March.
  • Handle: RePEc:kap:atlecj:v:26:y:1998:i:1:p:66-84
    DOI: 10.1007/BF02298372
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    File URL: http://hdl.handle.net/10.1007/BF02298372
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    Cited by:

    1. Kearney, Colm & Muckley, Cal, 2008. "Can the traditional Asian US dollar peg exchange rate regime be extended to include the Japanese yen?," International Review of Financial Analysis, Elsevier, vol. 17(5), pages 870-885, December.
    2. Bowman, Chakriya, 2005. "Yen bloc or koala bloc? Currency relationships after the East Asian crisis," Japan and the World Economy, Elsevier, vol. 17(1), pages 83-96, January.
    3. Kim, Bong-Han & Kim, Hyeongwoo & Min, Hong-Ghi, 2013. "Reassessing the link between the Japanese yen and emerging Asian currencies," Journal of International Money and Finance, Elsevier, vol. 33(C), pages 306-326.
    4. Ahmad Zubaidi Baharumshah & Liew Khim Sen, 2003. "The Predictability of ASEAN-5 Exchange Rates," International Finance 0307004, EconWPA.
    5. Kearney, Colm & Muckley, Cal, 2007. "Reassessing the evidence of an emerging yen block in North and Southeast Asia," International Review of Economics & Finance, Elsevier, vol. 16(2), pages 255-271.

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