While it is painfully clear that the ’ever closer’ monetary and financial union in the EU has run into serious trouble there has been very little study of the degree to which the countries have become similar or different in their economic growth dynamics. This paper therefore goes beyond...

This paper attempts to assess how compatible China is with respect to its dollar-based exchange rate regime. Assessment is made in terms of the real convergence criteria suggested by the optimum currency areas (OCA) theory. In light of the endogenous problem in OCA analysis and this view of...

Currently, a number of the fastest growing economies in the world are located in East Asia. Given these countries' dominance in the region, any monetary integration scheme in Asia would likely have to include them. This paper attempts to assess the evolution of convergence among the East Asian...

This paper attempts to assess how compatible China is with respect to its dollar-based exchange rate regime. Assessment is made in terms of the real convergence criteria suggested by the optimum currency areas (OCA) theory. In light of the endogenous problem in OCA analysis and this view of...

While it is painfully clear that the 'ever closer' monetary and financial union in the EU has run into serious trouble there has been very little study of the degree to which the countries have become similar or different in their economic growth dynamics. This paper therefore goes beyond the...

This paper attempts to assess the compatibility of China with its present dollar-based exchange rate policies. Assessment is made in terms of the real convergence criteria suggested by the optimum currency areas (OCA) theory and the nominal convergence criteria specified by the Maastricht...

In this paper we apply the optimum currency area (OCA) criteria to assess the suitability of whether the United States, Japan, or China would best serve as monetary anchor country for East Asian countries. The criteria used are trade openness, business cycle synchronisation, real exchange rate...

By 2031, it will be a century since the Great Depression, touted as the most dreadful depression in the history of U.S. and the rest of the world, had taken place. In the final decades of last century and in the early years of this century, numerous financial crises and economic depressions, not...