ASIAN MONETARY COOPERATION: PERSPECTIVES FROM THE OPTIMUM CURRENCY AREA ANALYSIS

Thomas D. Willett (), Orawan Permpoon () and Lalana Srisorn ()
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Thomas D. Willett: Claremont Graduate University and Claremont McKenna College, Harper East 206, School of Politics and Economics, 160 E. 10 street, Claremont, 91711, USA;
Orawan Permpoon: Politics and Economics at Claremont, Graduate University, USA
Lalana Srisorn: Politics and Economics at Claremont, Graduate University, USA

The Singapore Economic Review (SER), 2010, vol. 55, issue 01, 103-124

Abstract: We argue that a number of recent studies have overstated the economic case for the creation of a common Asian currency by focusing on only a few of the relevant criteria. We also conclude that endogenous forces are unlikely to be sufficiently strong that adopting a common currency would quickly turn Asia into an optimum currency area (OCA) as some have suggested. We argue that more attention needs to be devoted to issues of monetary, fiscal, and exchange rate coordination under a fairly flexible exchange rate system and that OCA analysis is a valuable framework for analyzing such issues.

Keywords: Asian monetary integration; OCA (search for similar items in EconPapers)
Date: 2010
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Citations: View citations in EconPapers (5)

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DOI: 10.1142/S0217590810003638

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