Japanese Yen as an Alternative Vehicle Currency in Asian Countries

M Azali, R. C. Royfaizal and C Lee
Authors registered in the RePEc Author Service: M Azali, Chin Lee (), M. Azali and Cheng Few Lee

The IUP Journal of Monetary Economics, 2009, vol. VII, issue 2, 6-16

Abstract: Members of Asian countries have been thinking about using another currency instead of the US dollar for regional trade. Hence, there is a strong case to study the Japanese yen as an alternative hard currency in this region for trade transaction. This paper investigates the long run cointegration to determine the possibility and feasibility to use yen as a future vehicle currency in the Asian region namely Malaysia, Singapore, Thailand, Indonesia, Philippines, China, Korea and India by examining their daily exchange rate movements denominated in yen. Empirical evidence shows that four out of eight countries, namely, Malaysia, Philippines, Singapore and Korea are the countries that support this hypothesis.

Date: 2009
References: Add references at CitEc
Citations: View citations in EconPapers (3)

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:icf:icfjmo:v:07:y:2009:i:2:p:6-16

Access Statistics for this article

More articles in The IUP Journal of Monetary Economics from IUP Publications
Bibliographic data for series maintained by G R K Murty ().