Asian financial integration during the pre-and post crisis periods.
As the economies of Asian have moved towards closer economic ties and trade integration in recent years, the establishment of regional exchange rate arrangement is becoming an important regional policy concern, particularly in the wake of the Asian currency crisis of 1997. Financial integration in A...
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| Format: | Article |
| Language: | English English |
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Serials Publications
2009
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| Online Access: | http://psasir.upm.edu.my/id/eprint/17685/ http://psasir.upm.edu.my/id/eprint/17685/1/Asian%20financial%20integration%20during%20the%20pre.pdf |
| _version_ | 1848843310243774464 |
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| author | Mohamed, Azali Lee, Chin |
| author_facet | Mohamed, Azali Lee, Chin |
| author_sort | Mohamed, Azali |
| building | UPM Institutional Repository |
| collection | Online Access |
| description | As the economies of Asian have moved towards closer economic ties and trade integration in recent years, the establishment of regional exchange rate arrangement is becoming an important regional policy concern, particularly in the wake of the Asian currency crisis of 1997. Financial integration in ASEAN+3 is assessed in this paper by examining the time-series stochastic behaviour and cointegration in a set of eight ASEAN+3 currencies in pre-crisis, crisis and post-crisis periods. Significant non-stationarity, and the presence of unit roots were documented for each currency in each sample period. The results of cointegration analysis showed that the currencies are not cointegrated during the pre-crisis period. Evidence of cointegration was found among a few Asian currencies in the crisis and post-crisis periods. These findings have important implications for understanding the potential of developing a common currency area. |
| first_indexed | 2025-11-15T08:12:59Z |
| format | Article |
| id | upm-17685 |
| institution | Universiti Putra Malaysia |
| institution_category | Local University |
| language | English English |
| last_indexed | 2025-11-15T08:12:59Z |
| publishDate | 2009 |
| publisher | Serials Publications |
| recordtype | eprints |
| repository_type | Digital Repository |
| spelling | upm-176852015-10-22T04:13:54Z http://psasir.upm.edu.my/id/eprint/17685/ Asian financial integration during the pre-and post crisis periods. Mohamed, Azali Lee, Chin As the economies of Asian have moved towards closer economic ties and trade integration in recent years, the establishment of regional exchange rate arrangement is becoming an important regional policy concern, particularly in the wake of the Asian currency crisis of 1997. Financial integration in ASEAN+3 is assessed in this paper by examining the time-series stochastic behaviour and cointegration in a set of eight ASEAN+3 currencies in pre-crisis, crisis and post-crisis periods. Significant non-stationarity, and the presence of unit roots were documented for each currency in each sample period. The results of cointegration analysis showed that the currencies are not cointegrated during the pre-crisis period. Evidence of cointegration was found among a few Asian currencies in the crisis and post-crisis periods. These findings have important implications for understanding the potential of developing a common currency area. Serials Publications 2009 Article PeerReviewed application/pdf en http://psasir.upm.edu.my/id/eprint/17685/1/Asian%20financial%20integration%20during%20the%20pre.pdf Mohamed, Azali and Lee, Chin (2009) Asian financial integration during the pre-and post crisis periods. Journal of International Economic Review, 2 (1-2). pp. 103-112. ISSN 0975-2072 English |
| spellingShingle | Mohamed, Azali Lee, Chin Asian financial integration during the pre-and post crisis periods. |
| title | Asian financial integration during the pre-and post crisis periods. |
| title_full | Asian financial integration during the pre-and post crisis periods. |
| title_fullStr | Asian financial integration during the pre-and post crisis periods. |
| title_full_unstemmed | Asian financial integration during the pre-and post crisis periods. |
| title_short | Asian financial integration during the pre-and post crisis periods. |
| title_sort | asian financial integration during the pre-and post crisis periods. |
| url | http://psasir.upm.edu.my/id/eprint/17685/ http://psasir.upm.edu.my/id/eprint/17685/1/Asian%20financial%20integration%20during%20the%20pre.pdf |