This paper focuses on the yen's role as a currency of invoice and financial asset. Further aspects of the internationalisation of the yen (e.g. non-resident borrowing in yen) are not dealt with directly. The relatively small importance of the yen in trade invoicing suggests that the "transaction...

This paper focuses on the yen's role as a currency of invoice and financial asset. Further aspects of the internationalisation of the yen (e.g. non-resident borrowing in yen) are not dealt with directly. The relatively small importance of the yen in trade invoicing suggests that the "transaction...