The Internationalization Of Yen And Key Currency Questions PDF Download
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Author | : Toru Iwami |
Publisher | : International Monetary Fund |
Total Pages | : 96 |
Release | : 1994-04-01 |
Genre | : Business & Economics |
ISBN | : 1451846037 |
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The role of the yen in the International financial system is reconsidered from a comparative (historical) approach. Compared with the D-Mark in the postwar years, the limited use of the yen results not so much from regulations on capital movements as from the structure and behavior of Japanese economy. The history of the pound-sterling and the U.S. dollar reveals the fact that such factors as the network of foreign trade and economic size constitute the basis and “inertia” of a key-currency. Thus for a currency to rise to a key-position in global transactions, real factors are more decisive than financial market arrangement. Seen from the foreign economic relations, it is not possible for Japan to own a key-currency independent from the U.S. dollar.
Author | : Tōru Iwami |
Publisher | : |
Total Pages | : 56 |
Release | : 1994 |
Genre | : Currency question |
ISBN | : |
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Author | : Fondo Monetario Internacional |
Publisher | : |
Total Pages | : 45 |
Release | : 1994 |
Genre | : |
ISBN | : |
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Author | : Mr.George S. Tavlas |
Publisher | : International Monetary Fund |
Total Pages | : 61 |
Release | : 1991-01-01 |
Genre | : Business & Economics |
ISBN | : 1451930992 |
Download The Japanese Yen as an International Currency Book in PDF, ePub and Kindle
The role of the Japanese yen as an international currency is assessed. It is found that the determinants of international-currency use imply some increase for the yen’s use in international finance; however, the implications for the yen’s use in international trade are mixed. It is also shown that, despite Japan’s emergence as the world’s largest net creditor nation, Japan’s capital outflows have not significantly facilitated the yen’s internationalization. Data are presented showing that, although the yen’s use as an international currency has increased, it is still rather modest. Wider use of the yen as a regional currency in Asia has occurred, though a “yen-zone” does not appear to be emerging.
Author | : Mr.Dennis P. J. Botman |
Publisher | : International Monetary Fund |
Total Pages | : 21 |
Release | : 2013-11-06 |
Genre | : Business & Economics |
ISBN | : 1475513429 |
Download The Curious Case of the Yen as a Safe Haven Currency Book in PDF, ePub and Kindle
During risk-off episodes, the yen is a safe haven currency and on average appreciates against the U.S. dollar. We investigate the proximate causes of yen risk-off appreciations. We find that neither capital inflows nor expectations of the future monetary policy stance can explain the yen’s safe haven behavior. In contrast, we find evidence that changes in market participants’ risk perceptions trigger derivatives trading, which in turn lead to changes in the spot exchange rate without capital flows. Specifically, we find that risk-off episodes coincide with forward hedging and reduced net short positions or a buildup of net long positions in yen. These empirical findings suggest that offshore and complex financial transactions should be part of spillover analyses and that the effectiveness of capital flow management measures or monetary policy coordination to address excessive exchange rate volatility might be limited in certain cases.
Author | : T. Iwami |
Publisher | : Springer |
Total Pages | : 204 |
Release | : 1995-10-27 |
Genre | : Business & Economics |
ISBN | : 0230372635 |
Download Japan in the International Financial System Book in PDF, ePub and Kindle
Japan experienced a remarkable growth in international finance, through a series of liberalization measures in the 1980s. However, her position in the global financial system is still limited, as the reserve currency share of yen illustrates. Why does such a contrast exist? Historical comparison with Britain and the United States as well as extensive data provide a key to answer the question.
Author | : Jonathan Kirshner |
Publisher | : Cornell University Press |
Total Pages | : 335 |
Release | : 2018-08-06 |
Genre | : Political Science |
ISBN | : 1501731629 |
Download Monetary Orders Book in PDF, ePub and Kindle
Wherever there is money, there is money politics-a subject demanding ever greater attention at a time when monetary policies lead and the real economy follows. A principal defining characteristic of the contemporary global economy, Jonathan Kirshner contends, is the rise and preeminence of monetary phenomena—international financial crises, Central Bank Independence and inflation fighting, the creation of the euro, and monetary reform in emerging economies, to name only a few. Moreover, unlike most debates in political economy (such as those regarding trade policy), which are generally recognized as political, monetary phenomena and macroeconomic policies are typically represented as expressly apolitical. In Monetary Orders, a distinguished group of scholars explores the inescapable political origins of choices about money. The essays in Monetary Orders each address a specific issue or puzzle relating to money and its management. Their authors focus on markedly disparate cases but share a common observation: for most policy choices about money, market forces and economic logic can rule out certain options, but are indeterminate in explaining why one policy rather than another will be chosen. Ultimately, political factors are essential to explain fundamental and consequential choices about money.
Author | : Glenn D. Hook |
Publisher | : Routledge |
Total Pages | : 347 |
Release | : 2013-03-07 |
Genre | : Business & Economics |
ISBN | : 1135035377 |
Download The Internationalization of Japan Book in PDF, ePub and Kindle
The Internationalization of Japan provides the English-speaking reader with the opportunity to hear what some of Japan's leading social scientists and other commentators have to say about the internationalization of their country as well as their country's impact overseas. The topic is of extreme importance now as the international community demands a greater Japanese contribution to international society as well as changes in Japan to facilitate foreign access. The book discusses the internationalization of politics, economy and society. Topics of special interest include the internationalization of Japanese capital, the response of Japanese society to foreign workers, local level initiatives for internationalization and the internationalization of education. To place the internationalization of Japan in comparative perspective there are chapters on Britain and the United States from a leading British and a leading American political scientist respectively. These two and the editors aside, all the contributors are highly regarded Japanese scholars or commentators.
Author | : |
Publisher | : |
Total Pages | : 826 |
Release | : 2005 |
Genre | : Finance |
ISBN | : |
Download Economic Papers Book in PDF, ePub and Kindle
Author | : Malcolm Cook |
Publisher | : ISEAS-Yusof Ishak Institute |
Total Pages | : 324 |
Release | : 2020-10-07 |
Genre | : Political Science |
ISBN | : 9814881929 |
Download Singapore Lectures 1980-2018 Book in PDF, ePub and Kindle
Over the last 40 years, the ISEAS – Yusof Ishak Institute has been honoured to partner with the Singapore government in hosting 44 Singapore Lectures. The Singapore Lecture series is a unique public platform for world leaders and experts visiting Singapore that reflects the city-state’s role as a global hub of ideas and diplomacy. The 21 lectures chosen for this 40th anniversary volume chart the fundamental changes in the global economy and the inter-state system that Southeast Asia and Singapore have successfully navigated over these four momentous decades. "The Singapore Lectures reflect the city-state’s progress for the past forty years. This selection skilfully captures the highlights from the way Singapore began to learn to read the world to how it became an open and inclusive site of globalization. The collection might do more. The leaders from the five continents who spoke at ISEAS had come to share their experiences, their wisdom and, not least, their dreams. Following what they offered gives us a multifaceted picture that is instructive. It gives readers the chance to review an era of intense rivalry during which political conflicts were accompanied by unprecedented economic growth, when lessons were learnt from tragic failures and leaping successes. Read together, the lectures give us hope in a time of unprecedented global turmoil: there will surely be future leaders who could find ways to rid the world of its demons."--Wang Gungwu, Professor, National University of Singapore (NUS), and former Chairman of the ISEAS – Yusof Ishak Institute Board of Trustees