| Project/Area Number |
24530362
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| Research Category |
Grant-in-Aid for Scientific Research (C)
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| Allocation Type | Multi-year Fund |
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| Section | 一般 |
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| Research Field |
Public finance/Monetary economics
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| Research Institution | Gakushuin University |
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Principal Investigator |
SHIMIZU Junko 学習院大学, 経済学部, 教授 (70377068)
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| Project Period (FY) |
2012-04-01 – 2015-03-31
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| Project Status |
Completed (Fiscal Year 2014)
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| Budget Amount *help |
¥2,470,000 (Direct Cost: ¥1,900,000、Indirect Cost: ¥570,000)
Fiscal Year 2014: ¥650,000 (Direct Cost: ¥500,000、Indirect Cost: ¥150,000)
Fiscal Year 2013: ¥1,040,000 (Direct Cost: ¥800,000、Indirect Cost: ¥240,000)
Fiscal Year 2012: ¥780,000 (Direct Cost: ¥600,000、Indirect Cost: ¥180,000)
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| Keywords | 為替リスク / 為替制度 / 資本規制 / 貿易建値通貨 / 通貨の機能 / 基軸通貨 / 貿易建値 / 資本フロー / 為替リスク管理 / 国際情報交換（中国） / 決済システム / 為替市場 |
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| Outline of Final Research Achievements |
The purpose of this research is to consider the expansion of Asian local currency usage as well as a possibility of the yen as Asian key currency. Our questionnaire results against the Japanese overseas subsidiaries indicate that Chinese yuan’s usage has expanded only in China and Hong Kong but other ASEAN countries. On the other hand, ASEAN currencies such as the Thailand baht are growing in use due to the expansion of production networks in ASEAN countries.
Currently, the US dollar is mainly utilized as trade settlement and invoice in Asia, however the excessive dollar dependence might not be desirable. One possible way to promote local currency usage is to create Yen-ASEAN currencies direct market, which enables to exchange Yen to ASEAN currencies without the US dollar. The above findings will give us important insights on the desirable currency regime of Asian countries and also provide meaningful policy implications for the possible monetary cooperation in the region.
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