Is North and South East Asia becoming a Yen block?

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dc.contributor.author Kearney, Colm
dc.contributor.author Muckley, Cal
dc.date.accessioned 2009-06-08T13:38:21Z
dc.date.available 2009-06-08T13:38:21Z
dc.date.copyright 2005, Centre for Financial Markets en
dc.date.issued 2005
dc.identifier.uri http://hdl.handle.net/10197/1152
dc.description.abstract We examine the evidence of an emerging yen block in North and Southeast Asia using up to 27 years of weekly data on 9 bilateral yen exchange rates. The exchange rate returns are modelled in response to variations in their US dollar, German mark, and UK pound effective counterparts using a general-to-specific dynamic estimation strategy. We also investigate the pattern of regional trade integration over time. The results suggest increasing intra-regional trade integration, particularly regarding Japanese trade integration with the region. They also indicate the decreasing influence of the US dollar in terms of magnitude, the German mark in terms of scope and the UK pound in terms of both magnitude and scope with respect to exchange rate determination in the region. These findings are consistent with an emerging yen influence although not a defacto yen block. en
dc.format.extent 240740 bytes
dc.format.mimetype application/pdf
dc.language.iso en en
dc.publisher University College Dublin. School of Business. Centre for Financial Markets en
dc.relation.ispartofseries Centre for Financial Markets working paper series en
dc.relation.ispartofseries WP-05-05 en
dc.subject Exchange rates en
dc.subject Yen block en
dc.subject Asian currency crisis en
dc.subject Exchange rate systems en
dc.subject.classification 110203 en
dc.subject.classification 110211 en
dc.subject.lcsh Foreign exchange rates--Asia en
dc.subject.lcsh Currency crises--Asia en
dc.subject.lcsh Yen, Japanese--Asia en
dc.title Is North and South East Asia becoming a Yen block? en
dc.type Working Paper en
dc.internal.availability Full text available en
dc.internal.webversions Publisher's version en
dc.internal.webversions http://www.ucd.ie/bankingfinance/docs/Kearney_and_Muckley_2005a.pdf en
dc.status Not peer reviewed en
dc.neeo.contributor Kearney|Colm|aut|
dc.neeo.contributor Muckley|Cal|aut|


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