Global Imbalances and East Asian Currencies

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  • Ogawa Eiji
    Graduate School of Commerce and Management, Hitotsubashi University.

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  This paper considers a causality relationship from the global imbalances to the global financial crisis and asymmetric reactions of East Asian currencies to the global financial crisis. In addition, it is pointed out that regional monetary coordination is necessary for stability of intra-regional exchange rates among East Asian currencies. It considers what we should do for the regional monetary coordination in East Asia.

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