The Feasibility Of East Asian Monetary Union As An Optimum Currency Area
Monetary cooperation in East Asia has become increasingly important and practical, particularly in times of regional economic and financial crisis. Contrary to those papers of studies in the mainstream, this paper evaluates the feasibility of monetary union in East Asia by benchmarking its optimu...
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| Format: | Article |
| Language: | English |
| Published: |
Penerbit Universiti Sains Malaysia (USM Press)
2009
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| Online Access: | http://eprints.usm.my/40271/1/Chee_HeongQuah.pdf http://eprints.usm.my/40271/ http://ijaps.usm.my/wp-content/uploads/2012/06/Chee_HeongQuah.pdf |
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| Summary: | Monetary cooperation in East Asia has become increasingly important and
practical, particularly in times of regional economic and financial crisis.
Contrary to those papers of studies in the mainstream, this paper evaluates the
feasibility of monetary union in East Asia by benchmarking its optimum currency
area (OCA) criteria against selected dollarised countries and the European
Economic and Monetary Union (EMU). Four criteria are proposed. The US
dollar is designated as the anchor currency. To some extent, results do confirm
the validity of the criteria and suggest a considerably strong case for monetary
integration in parts of the region. |
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