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East Asian Monetary Cooperation And Its Mode Of Study

Posted on:2004-07-01Degree:MasterType:Thesis
Country:ChinaCandidate:X Y WangFull Text:PDF
GTID:2206360092986825Subject:World economy
Abstract/Summary:PDF Full Text Request
Confronted with the great challenge of economic globalization, East Asia countries find the benefit of European Currency Unit (ECU)'s using and US Dollar's reviving in South America; at the same time, East Asia countries recognize the serious defects either in the course of their own economic development after 1997 East Asian financial crisis. The whole East Asia understands deeply that underdeveloped regional monetary system in East Asia is a deep reason for the irreconciliation between those countries in crisis.As a result, East Asia countries have reached an agreement on establishing a regional monetary system in East Asia. So, it is very necessary to discuss the establishment of the East Asian regional monetary system as a serious and realistic topic. My dissertation's point of view is to bring forth the new idea on the base of international monetary cooperation theory. In the dissertation, the author tries to solve the problems as follows: firstly, finds appropriate economic theories and analyzes requirement and conditions for East Asia monetary cooperation; secondly, after researching many kinds of East Asia monetary cooperation patterns, builds a more complete cooperation pattern. Concretely speaking, the dissertation concludes three chapters as follows:Chapter 1, international economic development and the background of East Asia monetary cooperation's engender, deals with research background, present situation and significance. The dissertation points out that international economic is developing globally and regionally and ECU's using and reviving of US Dollar in South America make it necessary that East Asia countries cooperate on economic more deeply. In the financial crisis of East Asia in 1997, the defects in economic field verified that keeping very independent monetary policy has been out-of-date tradition. It should be an important topic to strengthen the monetary and finance cooperation in East Asia region and build international monetary cooperation pattern owning to this region.Chapter 2, the theory that East Asia monetary cooperation based on and the analysis of cooperation's conditions and requirements, deals with the theory and requirement research of building East Asia monetary cooperation. The dissertation proofs East Asia monetary cooperation by using economic theory from 2 different points of views. Firstly, based on the most appropriate currency region theory, the author discuss the requirements, benefits and cost of international monetary cooperation; secondly, based on the elastic price model decided by exchange rate, the author compares the results of different intervening patterns, and verifies it is necessary to build monetary cooperation pattern in East Asia. When analyzing the conditions of monetary cooperation, the dissertation compares East Asia with ECU region and South America on financial and exchange rate policies first, and then discusses 6 basic cooperating conditions completely. These conditions are: (1) the industry and trade related rate and economic open rate among East Asia countries; (2) diversity degree of products in the region; when countries in the region can meet the condition of "diversity of low degree products", operating monetary cooperation may have significant in reality; (3) consistence of member states' economy period and symmetry of financial relation among member states; (4) inflation rate's similarity among member states; (5) coordination on policy among member states; (6) support of a hard currency in the region. Without a hard currency's support, monetary cooperation will be destroyed easily by outer speculating capital because of limitation of economy and store capital in the region. Although there are many good conditions to cooperate in East Asia, there is much unavoidable difficulty, too, such as the big difference among member states' economic development degree and the difficulty to get consistence on policy. These proof that East Asia monetary cooperation could not use the pattern now have been existed but use a new pattern with...
Keywords/Search Tags:East Asia, international monetary cooperation, pattern, conditions and requirements, policy conciliation.
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