Monetary Cooperation in East Asian Countries: A Possibility from Macro Economic Indexes and Intra-Regional Trade Dependency

Bong Gil Kim and Kazuhiro Igawa
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Bong Gil Kim: Kobe University
Kazuhiro Igawa: Kobe University

Kobe Economic & Business Review, 2001, vol. 45, 85-101

Abstract: This paper analyzes the possibility of currency area in Asia depending on macro-economic indexes and on intra-regional trade dependency, and possibly depending on financial dependency. These will be compared with those in EU. The next issue will be the process to converge into the currency area in Asia. APEC experience might give us much information about these issues. Not persuasive but voluntary participation of member countries in monetary cooperation and starting from weak cooperation to tighter cooperation will be the style in Asia. However it is not solved yet that gradual set-up of currency area is better or easier than rapid introduction of one common currency. All our arguments depend on our speculative perspective that one global currency system is the best final stage of international monetary system and this stage will not be in far future. We will discuss the perspective to a global currency area, taking into account of relations with Dollar and Euro and the Asian currency.

Keywords: Monetary Cooperation; Intenational Monetary System; ACU; EURO (search for similar items in EconPapers)
JEL-codes: G21 G32 G33 (search for similar items in EconPapers)
Date: 2001
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