Potential Currency Areas in East Asia using United States, Japan or China as the Monetary Anchor

Chee-Heong Quah

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dc.creator	Chee-Heong Quah
dc.date	2013
dc.date.accessioned	2022-03-22T16:07:57Z
dc.date.available	2022-03-22T16:07:57Z
dc.identifier	http://www.redalyc.org/articulo.oa?id=32329694007
dc.identifier.uri	http://biblioteca-repositorio.clacso.edu.ar/handle/CLACSO/82918
dc.description	This paper applies fuzzy clustering techniques to developed and emerg- ing economies in East Asia, in order to arrive at an identification of potential subgroups of economies for monetary union. The statistical criteria employed is the one suggested by the Optimal Currency Areas theory, and the period exam- ined includes the recent global crisis. Three alternative monetary anchor coun- tries are proposed, namely the United States, Japan and China, and hence, to an extent, the analysis does indicate the relative importance of the three worlds larg- est economies to East Asia. Due to the endogeneity of the convergence criteria in the eurozone, founding member states of emu are used as a point of reference for East Asia to indicate the level of preparedness for monetary union in this region. Findings indicate that Singapore and Hong Kong are relatively prepared for inte- gration. In addition, results do also signify the dominance of Japan despite the prevalence of the dollar standard in the region.
dc.format	application/pdf
dc.language	en
dc.publisher	Centro de Investigación y Docencia Económicas, A.C.
dc.relation	http://www.redalyc.org/revista.oa?id=323
dc.rights	Economía Mexicana. Nueva Época
dc.source	Economía Mexicana. Nueva Época (México) Vol.I
dc.subject	Economía y Finanzas
dc.subject	Asia
dc.subject	US
dc.subject	Japan
dc.subject	China
dc.subject	Europe
dc.subject	monetary union
dc.subject	dollar
dc.subject	business cycle
dc.title	Potential Currency Areas in East Asia using United States, Japan or China as the Monetary Anchor
dc.type	artículo científico