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The Internationalization of Currencies; An Appraisal of the Japanese Yen

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  • Yusuru Ozeki
  • George S Tavlas

Abstract

A tripolar international monetary system-centered on the U.S. dollar, the deutsche mark, and the yen - appears to be emerging. This paper not only assesses the role of the yen as an international currency but also presents a unified theory of international currency use and distinguishes between the roles of a nation as a world banker and as an international financial intermediary.

Suggested Citation

  • Yusuru Ozeki & George S Tavlas, 1992. "The Internationalization of Currencies; An Appraisal of the Japanese Yen," IMF Occasional Papers 90, International Monetary Fund.
  • Handle: RePEc:imf:imfocp:90
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