Financial integration among ASEAN+3 countries : evidence from exchange rates convergence
As the economies of Asian have moved towards closer economic ties in recent years, the establishment of regional exchange rate arrangement has become an important regional policy concern. A study by the Asian Development Bank forecast that Asian will be the world's largest economy by 2050. Henc...
| Main Authors: | , |
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| Format: | Article |
| Language: | English |
| Published: |
Center for Promoting Ideas (CPI), USA
2013
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| Online Access: | http://psasir.upm.edu.my/id/eprint/28404/ http://psasir.upm.edu.my/id/eprint/28404/1/Financial%20integration%20among%20ASEAN.pdf |
| _version_ | 1848846107693547520 |
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| author | Lee, Chin Mohamed, Azali |
| author_facet | Lee, Chin Mohamed, Azali |
| author_sort | Lee, Chin |
| building | UPM Institutional Repository |
| collection | Online Access |
| description | As the economies of Asian have moved towards closer economic ties in recent years, the establishment of regional exchange rate arrangement has become an important regional policy concern. A study by the Asian Development Bank forecast that Asian will be the world's largest economy by 2050. Hence, it is not reasonable for Asian to continuously depend on U.S. dollar. Asian must have its own currency and must responsible for its own financial stability. Regional cooperation (including integration) is critical for Asia’s march toward prosperity and facing vulnerabilities to global shocks. 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. The findings imply that not all of the ASEAN+3 countries are financial integrated during the recent float. This finding provided weak support upon formation of regional monetary and exchange rate arrangement in Asia. |
| first_indexed | 2025-11-15T08:57:27Z |
| format | Article |
| id | upm-28404 |
| institution | Universiti Putra Malaysia |
| institution_category | Local University |
| language | English |
| last_indexed | 2025-11-15T08:57:27Z |
| publishDate | 2013 |
| publisher | Center for Promoting Ideas (CPI), USA |
| recordtype | eprints |
| repository_type | Digital Repository |
| spelling | upm-284042015-10-01T07:59:30Z http://psasir.upm.edu.my/id/eprint/28404/ Financial integration among ASEAN+3 countries : evidence from exchange rates convergence Lee, Chin Mohamed, Azali As the economies of Asian have moved towards closer economic ties in recent years, the establishment of regional exchange rate arrangement has become an important regional policy concern. A study by the Asian Development Bank forecast that Asian will be the world's largest economy by 2050. Hence, it is not reasonable for Asian to continuously depend on U.S. dollar. Asian must have its own currency and must responsible for its own financial stability. Regional cooperation (including integration) is critical for Asia’s march toward prosperity and facing vulnerabilities to global shocks. 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. The findings imply that not all of the ASEAN+3 countries are financial integrated during the recent float. This finding provided weak support upon formation of regional monetary and exchange rate arrangement in Asia. Center for Promoting Ideas (CPI), USA 2013 Article PeerReviewed application/pdf en http://psasir.upm.edu.my/id/eprint/28404/1/Financial%20integration%20among%20ASEAN.pdf Lee, Chin and Mohamed, Azali (2013) Financial integration among ASEAN+3 countries : evidence from exchange rates convergence. International Journal of Business and Social Science, 4 (17). pp. 246-252. ISSN 2219-1933; ESSN: 2219-6021 http://ijbssnet.com/journal/index/2312 |
| spellingShingle | Lee, Chin Mohamed, Azali Financial integration among ASEAN+3 countries : evidence from exchange rates convergence |
| title | Financial integration among ASEAN+3 countries : evidence from exchange rates convergence |
| title_full | Financial integration among ASEAN+3 countries : evidence from exchange rates convergence |
| title_fullStr | Financial integration among ASEAN+3 countries : evidence from exchange rates convergence |
| title_full_unstemmed | Financial integration among ASEAN+3 countries : evidence from exchange rates convergence |
| title_short | Financial integration among ASEAN+3 countries : evidence from exchange rates convergence |
| title_sort | financial integration among asean+3 countries : evidence from exchange rates convergence |
| url | http://psasir.upm.edu.my/id/eprint/28404/ http://psasir.upm.edu.my/id/eprint/28404/ http://psasir.upm.edu.my/id/eprint/28404/1/Financial%20integration%20among%20ASEAN.pdf |