Yen Bloc or Yuan Bloc : An Analysis of Currency Arrangements in East Asia

Author/Editor:

Kazuko Shirono

Publication Date:

January 1, 2009

Electronic Access:

Free Full text (PDF file size is 623 KB).Use the free Adobe Acrobat Reader to view this PDF file

Disclaimer: This Working Paper should not be reported as representing the views of the IMF.The views expressed in this Working Paper are those of the author(s) and do not necessarily represent those of the IMF or IMF policy. Working Papers describe research in progress by the author(s) and are published to elicit comments and to further debate

Summary:

This paper examines the role of Japan against that of China in the exchange rate regime in East Asia in light of growing interest in forming a currency union in the region. The analysis suggests that currency unions with China tend to generate higher average welfare gains for East Asian countries than currency unions with Japan or the United States. Overall, Japan does not appear to be a dominant player in forming a currency union in East Asia, and this trend is likely to continue if China's relative presence continues to rise in the regional trade.

Series:

Working Paper No. 09/3

Subject:

English

Publication Date:

January 1, 2009

ISBN/ISSN:

9781451871500/1018-5941

Stock No:

WPIEA2009003

Price:

$18.00 (Academic Rate:$18.00)

Format:

Paper

Pages:

34

Please address any questions about this title to publications@imf.org