East-Asian Monetary Cooperation under the Managed Floating Exchange Rate Regime

doi:10.16382/j.cnki.1000-5579.2006.04.011

Abstract

Abstract:

Since East Asian currencies gave up the USD-pegged regime, both Yen and RMB (especially, RMB) have played more important roles in stabilizing exchange rates in East Asia than other currencies.As a result, those sub-currency-areas established around Yen and RMB respectively as their core currency (that is, bi-way mechanism) may lead to real East-Asian exchange rate cooperations and coordinations.In the long run "bi-way mechanism" will result in a competitive and coordinative mechanism between Yen, RMB and USD.The USD's position of "hegemony" may be challenged.

Key words: monetary cooperation in East Asia, managed floating exchange rate regime, sub-currency-area, exchange rate coordination

CLC Number:

Ji-sheng HUANG, Sheng-xin RAN. East-Asian Monetary Cooperation under the Managed Floating Exchange Rate Regime[J]. Journal of East China Normal University (Philosophy and Social Sciences), 2006, 38(4): 75-79+96.

Figures/Tables 4

References 11

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