A Brief History of the Modern Yen (1960–87)

Brendan Brown

Chapter 2 in The Yo-Yo Yen, 2002, pp 30-62 from Palgrave Macmillan

Abstract: Abstract It was well into the miracle period of 1953–73, during which Japanese growth averaged near 10 per cent p.a., that the modern history of the yen begins. Only in 1963 did Japan become an ‘Article 8’ member of the International Monetary Fund (meaning Japanese residents could convert yen into foreign currencies for all trade transactions and non-residents could exchange yen deposits freely for whatever purpose) and in the following year a member of the OECD (Organization for Economic Cooperation and Development). Those landmark steps were the culmination of a process originating in 1960 when, in response to international criticism for moving slowly, an outline plan for trade and foreign exchange liberalisation was introduced (90 per cent of imports to be free of quota or other restrictions).

Keywords: Exchange Rate; Monetary Policy; Current Account; Federal Reserve; Foreign Exchange Market (search for similar items in EconPapers)
Date: 2002
References: Add references at CitEc
Citations:

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:pal:palchp:978-1-4039-0710-3_3

Ordering information: This item can be ordered from
http://www.palgrave.com/9781403907103

DOI: 10.1057/9781403907103_3

Access Statistics for this chapter

More chapters in Palgrave Macmillan Books from Palgrave Macmillan
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().