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Empirical analysis of the impacts of Chinese yuan deals on the foreign exchange market in Myanmar

Research Project

Project/Area Number 18K11799
Research Category

Grant-in-Aid for Scientific Research (C)

Allocation TypeMulti-year Fund
Section一般
Review Section Basic Section 80010:Area studies-related
Research InstitutionKwansei Gakuin University

Principal Investigator

Kunimune Kozo  関西学院大学, 国際学部, 教授 (50450490)

Co-Investigator(Kenkyū-buntansha) 久保 公二  学習院大学, 国際社会科学部, 教授 (00450528)
Project Period (FY) 2018-04-01 – 2024-03-31
Project Status Completed (Fiscal Year 2023)
Budget Amount *help
¥3,510,000 (Direct Cost: ¥2,700,000、Indirect Cost: ¥810,000)
Fiscal Year 2021: ¥130,000 (Direct Cost: ¥100,000、Indirect Cost: ¥30,000)
Fiscal Year 2020: ¥390,000 (Direct Cost: ¥300,000、Indirect Cost: ¥90,000)
Fiscal Year 2019: ¥520,000 (Direct Cost: ¥400,000、Indirect Cost: ¥120,000)
Fiscal Year 2018: ¥2,470,000 (Direct Cost: ¥1,900,000、Indirect Cost: ¥570,000)
Keywordsミャンマー / 中国元の国際化 / 経済成長 / 外国為替管理制度改革 / 外国為替管理制度改革の後退 / 裁定取引 / インフォーマル送金 / 人民元の国際化 / 外国為替市場 / 中国元 / 中国の影響
Outline of Final Research Achievements

Although Myanmar abolished its fixed exchange rate system in April 2012, eliminating dual exchange rate conditions, the unofficial currency market for the Chinese yuan and the official market for the U.S. dollar have stood side by side. This study examines whether these two currency markets have been fragmented, causing inefficiencies in the economy. A time-series analysis of daily exchange rates suggests that the arbitrage condition between the country's two currency markets have generally been maintained, suggesting market fragmentation did not occur. On the other hand, Myanmar's reimposition of restrictive trade and exchange controls after the 2021 military coup motivated us to perform a descriptive analysis of the relationship between the country's past economic policies and economic growth, as well as a growth accounting analysis. These analyses reconfirm that restrictive policies have worsened the country's economic outlook.

Academic Significance and Societal Importance of the Research Achievements

しばしばアジア最後のフロンティアと称され、社会的関心が寄せられているにもかかわらず、既存の研究が限られているミャンマーについて、本研究は外国為替・貿易管理制度に焦点をあてながら経済の動向を整理して研究成果にまとめた。

Report

(7 results)
  • 2023 Annual Research Report   Final Research Report ( PDF )
  • 2022 Research-status Report
  • 2021 Research-status Report
  • 2020 Research-status Report
  • 2019 Research-status Report
  • 2018 Research-status Report
  • Research Products

    (6 results)

All 2024 2023 2021 2020 2019

All Journal Article (4 results) (of which Int'l Joint Research: 1 results,  Open Access: 2 results,  Peer Reviewed: 2 results) Presentation (2 results) (of which Int'l Joint Research: 1 results)

  • [Journal Article] ミャンマー経済成長の要因分解:Development AccountingとGrowth Accountingの視点より2024

    • Author(s)
      国宗浩三
    • Journal Title

      関西学院大学国際学研究

      Volume: 13(1) Pages: 49-66

    • Related Report
      2023 Annual Research Report
    • Open Access
  • [Journal Article] ミャンマーのマクロ経済分析:経済成長の展望に関する一考察2023

    • Author(s)
      国宗浩三
    • Journal Title

      関西学院大学国際学研究

      Volume: 12(1) Pages: 87-100

    • Related Report
      2022 Research-status Report
    • Open Access
  • [Journal Article] Currency exchange under payments dollarization: converting a source of efficiency loss into a catalyst for financial development in Cambodia2021

    • Author(s)
      Kubo Koji、Sam Vichet、Chea Yuthan
    • Journal Title

      Journal of the Asia Pacific Economy

      Volume: - Issue: 1 Pages: 216-241

    • DOI

      10.1080/13547860.2021.1879351

    • Related Report
      2020 Research-status Report
    • Peer Reviewed / Int'l Joint Research
  • [Journal Article] 国際経済環境の変化とASEANのマクロ経済動向2020

    • Author(s)
      国宗浩三
    • Journal Title

      変容するASEANの商業銀行(アジ研選書)

      Volume: 56 Pages: 23-51

    • Related Report
      2019 Research-status Report
    • Peer Reviewed
  • [Presentation] ミャンマーにおける中国元の国際化2019

    • Author(s)
      久保公二
    • Organizer
      日本国際経済学会第78回全国大会
    • Related Report
      2019 Research-status Report
  • [Presentation] Implications of melon boom in Myanmar-China cross-border trade on smallholders2019

    • Author(s)
      久保公二
    • Organizer
      European Association for Southeast Asian Studies 2019 Conference
    • Related Report
      2019 Research-status Report
    • Int'l Joint Research

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Published: 2018-04-23   Modified: 2025-01-30  

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