Suggestions for an East Asian Monetary Union: Focusing on the Effects of Monetary Integration on Bilateral Trade
This study explores alternative ways toward the East Asian monetary union, focusing on the effect of monetary integration on bilateral trade. For this purpose, we analyze with gravity model changes of the bilateral trade among countries of EU, NAFTA, and East Asia. A distinctive feature of this mode...
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| Format: | Article |
| Language: | English |
| Published: |
Korea Institute for International Economic Policy
2006-06-01
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| Series: | East Asian Economic Review |
| Subjects: | |
| Online Access: | http://dx.doi.org/10.11644/KIEP.JEAI.2006.10.1.154 |
| _version_ | 1811312554285203456 |
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| author | Min-Chang Ko Byung-Taik Cho |
| author_facet | Min-Chang Ko Byung-Taik Cho |
| author_sort | Min-Chang Ko |
| collection | DOAJ |
| description | This study explores alternative ways toward the East Asian monetary union, focusing on the effect of monetary integration on bilateral trade. For this purpose, we analyze with gravity model changes of the bilateral trade among countries of EU, NAFTA, and East Asia. A distinctive feature of this model is that it includes the dummy variables that show the cultural intimacy among North-East Asian countries, Asian NIEs countries, and East Asian countries (North-East Asian and ASEAN countries). We discovered that bilateral trade increased at a highest level among East Asian countries than the other two cases. This result suggests that the once-and-for-all strategy to develop an East Asian monetary union including North-East Asian and ASEAN countries would be more efficient than the multitrack strategy that forms the monetary union of North-East Asian countries in the first place and then tries to extend it to ASEAN countries. |
| first_indexed | 2024-04-13T10:38:23Z |
| format | Article |
| id | doaj.art-a477425f6c6d452fbd6796df2bffbd41 |
| institution | Directory Open Access Journal |
| issn | 2508-1640 2508-1667 |
| language | English |
| last_indexed | 2024-04-13T10:38:23Z |
| publishDate | 2006-06-01 |
| publisher | Korea Institute for International Economic Policy |
| record_format | Article |
| series | East Asian Economic Review |
| spelling | doaj.art-a477425f6c6d452fbd6796df2bffbd412022-12-22T02:49:59ZengKorea Institute for International Economic PolicyEast Asian Economic Review2508-16402508-16672006-06-01101131157http://dx.doi.org/10.11644/KIEP.JEAI.2006.10.1.154Suggestions for an East Asian Monetary Union: Focusing on the Effects of Monetary Integration on Bilateral TradeMin-Chang Ko 0Byung-Taik Cho 1National Health Insurance CorporationHanyang UniversityThis study explores alternative ways toward the East Asian monetary union, focusing on the effect of monetary integration on bilateral trade. For this purpose, we analyze with gravity model changes of the bilateral trade among countries of EU, NAFTA, and East Asia. A distinctive feature of this model is that it includes the dummy variables that show the cultural intimacy among North-East Asian countries, Asian NIEs countries, and East Asian countries (North-East Asian and ASEAN countries). We discovered that bilateral trade increased at a highest level among East Asian countries than the other two cases. This result suggests that the once-and-for-all strategy to develop an East Asian monetary union including North-East Asian and ASEAN countries would be more efficient than the multitrack strategy that forms the monetary union of North-East Asian countries in the first place and then tries to extend it to ASEAN countries.http://dx.doi.org/10.11644/KIEP.JEAI.2006.10.1.154Monetary IntegrationEast Asian Monetary UnionGravity ModelTrade Dependence IndexTrade Intensity Index |
| spellingShingle | Min-Chang Ko Byung-Taik Cho Suggestions for an East Asian Monetary Union: Focusing on the Effects of Monetary Integration on Bilateral Trade East Asian Economic Review Monetary Integration East Asian Monetary Union Gravity Model Trade Dependence Index Trade Intensity Index |
| title | Suggestions for an East Asian Monetary Union: Focusing on the Effects of Monetary Integration on Bilateral Trade |
| title_full | Suggestions for an East Asian Monetary Union: Focusing on the Effects of Monetary Integration on Bilateral Trade |
| title_fullStr | Suggestions for an East Asian Monetary Union: Focusing on the Effects of Monetary Integration on Bilateral Trade |
| title_full_unstemmed | Suggestions for an East Asian Monetary Union: Focusing on the Effects of Monetary Integration on Bilateral Trade |
| title_short | Suggestions for an East Asian Monetary Union: Focusing on the Effects of Monetary Integration on Bilateral Trade |
| title_sort | suggestions for an east asian monetary union focusing on the effects of monetary integration on bilateral trade |
| topic | Monetary Integration East Asian Monetary Union Gravity Model Trade Dependence Index Trade Intensity Index |
| url | http://dx.doi.org/10.11644/KIEP.JEAI.2006.10.1.154 |
| work_keys_str_mv | AT minchangko suggestionsforaneastasianmonetaryunionfocusingontheeffectsofmonetaryintegrationonbilateraltrade AT byungtaikcho suggestionsforaneastasianmonetaryunionfocusingontheeffectsofmonetaryintegrationonbilateraltrade |