Register  |  Login  |  Inquiries  |  Sitemap |  
Advanced Search
Journal of Economic Integration 2006 December;21(4) :736-763.
DOI: https://doi.org/10.11130/jei.2006.21.4.736
Is Time Ripe for a Currency Union in Emerging East Asia?: The Role of Monetary Stabilization

Marcelo Sánchez 

European Central Bank
Copyright ©2006 Journal of Economic Integration
ABSTRACT

This paper assesses the prospects for monetary integration between Emerging East Asian (EEA) economies. We develop a simple analytical framework for currency unions of small open economies. The empirical analysis looks at a number of supply-side characteristics of EEA countries highlighted by the model, distinguishing between aggregate and tradable sector structural features. Moreover, we discuss the evidence on the cross-country correlation of disturbances hitting the region. Our study indicates that, at present, EEA economies exhibit a high degree of cross-country supply diversity, while there is no compelling evidence that shocks are highly correlated across the region.

JEL classification: E52, E58, F33, F40

Keywords: East Asia | Emerging economies | Currency union | Stabilization
TOOLS
PDF Links  PDF Links
Full text via DOI  Full text via DOI
Download Citation  Download Citation
  Print
Share:      
METRICS
6
Crossref
0
Scopus
3,479
View
23
Download
Editorial Office
Center for Economic Integration, Sejong University, 209, Neungdong-Ro, Gwangjin-Gu,
Seoul, 05006, Korea
TEL : +82-2-3408-3338    FAX : +82-2-6935-2492   E-mail : editorial.office@e-jei.org
Browse Articles |  Current Issue |  For Authors and Reviewers |  About
Copyright© by Center for Economic Integration.      Developed in M2PI