The Suitability of ASEAN for a Regional Currency Arrangement

This paper examines the costs, benefits, preconditions, and implications of an Association of Southeast Asian Nations (ASEAN) regional currency arrangement that is assumed to culminate in a regional currency. On economic criteria, ASEAN appears less suited for a regional currency arrangement than Eu...

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Main Author: Mauro, Paolo
Other Authors: Bayoumi, Tamim
Format: eBook
Language:English
Published: Washington, D.C. International Monetary Fund 1999, 1999
Series:IMF Working Papers; Working Paper
Subjects:
Emu
Online Access:
Collection: International Monetary Fund - Collection details see MPG.ReNa
Summary:This paper examines the costs, benefits, preconditions, and implications of an Association of Southeast Asian Nations (ASEAN) regional currency arrangement that is assumed to culminate in a regional currency. On economic criteria, ASEAN appears less suited for a regional currency arrangement than Europe before the Maastricht Treaty, although the difference is not large. The transition to European Monetary Union (EMU) indicates that the path toward a common currency is fraught with difficulty. A firm political commitment would seem to be vital to ensuring that an attempt to form a regional currency arrangement is not viewed as simply another fixed exchange rate regime, open to speculative crises
Physical Description:24 p.
ISBN:9781451857856
1451857853