The relationship between major East Asian economies' international reserves and internationalization of their currencies presents a seeming paradox in international finance. While large international reserves may be expected to foster more widespread global use of a currency, strong growth of...

本文采用ＧＭＭ...

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内容提要: 本文采用GMM 估计方法，根据影响日元国际化的长期决定因素( 经济实力、金融市场发展、货币汇率升值、通货膨胀和货币惯性) 设定回归基准模型，对1976—2009...

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This paper employs the GMM estimator to empirically investigate the effects of Japanese international reserves on Yen internationalization from 1976 through 2009 by specifying the regression benchmark based on the long-run determinants of Yen internationalization with economic power, Yen...