Occasional Papers

The Internationalization of Currencies: An Appraisal of the Japanese Yen

ByYusuru Ozeki, George S Tavlas

January 15, 1992

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Format: Chicago

Yusuru Ozeki, and George S Tavlas. The Internationalization of Currencies: An Appraisal of the Japanese Yen, (USA: International Monetary Fund, 1992) accessed 12/14/2025, https://doi.org/10.5089/9781557751973.084

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Summary

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.

Subject: Balance of payments, Banking, Bonds, Capital outflows, Currencies, Exports, Financial institutions, Foreign direct investment, International trade, Money, Nonbank financial institutions, Securities

Keywords: Asia and Pacific, Bonds, Capital outflows, Currencies, currency use, Eastern Europe, Europe, exchange rates of major Currencies, Exports, financial market market trend, Foreign direct investment, foreign-currency bond, Global, Nonbank financial institutions, North America, OP, reserve data, section III, Securities, Southeast Asia, trade data, treasury-bill market, Western Europe, yen, yen currency bloc, yen zone