Yen Synchronization and Maastricht Convergence among the ASEAN-5, Japan and Korea

In this thesis, the main objective is to investigate whether ASEAN-5+2 countries meet the conditions for creating an AMU with the yen as the currency unit. First, the results of BEKK-GARCH (1, 1) and the dynamic correlation coefficients show that only Singapore, Korea, and Thailand have the potentia...

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Main Author:	Wong, Kelly Kai Seng
Format:	Thesis
Language:	English English
Published:	2010
Subjects:	Yen Japanese - Southeast Asia Foreign exchange - Southeast Asia Monetary policy - Southeast Asia
Online Access:	http://psasir.upm.edu.my/id/eprint/19480/1/FEP_2010_4_F.pdf
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id	my-upm-ir.19480
record_format	uketd_dc
spelling	my-upm-ir.194802013-04-01T02:16:24Z Yen Synchronization and Maastricht Convergence among the ASEAN-5, Japan and Korea 2010-07 Wong, Kelly Kai Seng In this thesis, the main objective is to investigate whether ASEAN-5+2 countries meet the conditions for creating an AMU with the yen as the currency unit. First, the results of BEKK-GARCH (1, 1) and the dynamic correlation coefficients show that only Singapore, Korea, and Thailand have the potential to adopt the yen as the regional currency unit. Second, the Maastricht criteria only have a significant impact on real GDP per capita growth for Japan, Korea, Singapore and the Philippines in the long term. In addition, the Maastricht criteria show that there were symmetry impacts on the growth of real GDP per capita for Japan, Korea, Singapore and the Philippines. Thus, only these four out of the seven countries (Japan, Korea, Singapore and the Philippines) appear to be potential candidates for establishing the AMU. Overall, the findings do not suggest the possibility of a formation of a full-fledged AMU by the ASEAN-5+2 countries. However, the formation of a sub-grouping of a few of the countries in the ASEAN-5+2 is more feasible, that is Japan, Singapore, and Korea. This is because these countries have higher institutional quality and fulfill the Maastricht treaty as well as being close in exchange rate regimes, and also have symmetrical economic behavior. Yen, Japanese - Southeast Asia Foreign exchange - Southeast Asia Monetary policy - Southeast Asia 2010-07 Thesis http://psasir.upm.edu.my/id/eprint/19480/ http://psasir.upm.edu.my/id/eprint/19480/1/FEP_2010_4_F.pdf application/pdf en public masters Universiti Putra Malaysia Yen, Japanese - Southeast Asia Foreign exchange - Southeast Asia Monetary policy - Southeast Asia Faculty of Economics and Management English
institution	Universiti Putra Malaysia
collection	PSAS Institutional Repository
language	English English
topic	Yen Japanese - Southeast Asia Foreign exchange - Southeast Asia Monetary policy - Southeast Asia
spellingShingle	Yen Japanese - Southeast Asia Foreign exchange - Southeast Asia Monetary policy - Southeast Asia Wong, Kelly Kai Seng Yen Synchronization and Maastricht Convergence among the ASEAN-5, Japan and Korea
description	In this thesis, the main objective is to investigate whether ASEAN-5+2 countries meet the conditions for creating an AMU with the yen as the currency unit. First, the results of BEKK-GARCH (1, 1) and the dynamic correlation coefficients show that only Singapore, Korea, and Thailand have the potential to adopt the yen as the regional currency unit. Second, the Maastricht criteria only have a significant impact on real GDP per capita growth for Japan, Korea, Singapore and the Philippines in the long term. In addition, the Maastricht criteria show that there were symmetry impacts on the growth of real GDP per capita for Japan, Korea, Singapore and the Philippines. Thus, only these four out of the seven countries (Japan, Korea, Singapore and the Philippines) appear to be potential candidates for establishing the AMU. Overall, the findings do not suggest the possibility of a formation of a full-fledged AMU by the ASEAN-5+2 countries. However, the formation of a sub-grouping of a few of the countries in the ASEAN-5+2 is more feasible, that is Japan, Singapore, and Korea. This is because these countries have higher institutional quality and fulfill the Maastricht treaty as well as being close in exchange rate regimes, and also have symmetrical economic behavior.
format	Thesis
qualification_level	Master's degree
author	Wong, Kelly Kai Seng
author_facet	Wong, Kelly Kai Seng
author_sort	Wong, Kelly Kai Seng
title	Yen Synchronization and Maastricht Convergence among the ASEAN-5, Japan and Korea
title_short	Yen Synchronization and Maastricht Convergence among the ASEAN-5, Japan and Korea
title_full	Yen Synchronization and Maastricht Convergence among the ASEAN-5, Japan and Korea
title_fullStr	Yen Synchronization and Maastricht Convergence among the ASEAN-5, Japan and Korea
title_full_unstemmed	Yen Synchronization and Maastricht Convergence among the ASEAN-5, Japan and Korea
title_sort	yen synchronization and maastricht convergence among the asean-5, japan and korea
granting_institution	Universiti Putra Malaysia
granting_department	Faculty of Economics and Management
publishDate	2010
url	http://psasir.upm.edu.my/id/eprint/19480/1/FEP_2010_4_F.pdf
_version_	1747811392059080704

Yen Synchronization and Maastricht Convergence among the ASEAN-5, Japan and Korea

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