2011 Fiscal Year Final Research Report
Empirical Analysis for the Effects of the Currency Substitution on the Monetary Policy Management and the Optimal Exchange Rate Regime in Asian Countries
| Project/Area Number |
21730245
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| Research Category |
Grant-in-Aid for Young Scientists (B)
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| Allocation Type | Single-year Grants |
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| Research Field |
Public finance/Monetary economics
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| Research Institution | Fukushima University |
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Principal Investigator |
KUMAMOTO Hisao 福島大学, 経済経営学類, 准教授 (30375349)
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| Project Period (FY) |
2009 – 2011
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| Keywords | アジア諸国 / 為替相場制度 / 通貨代替 / 履歴効果 |
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| Research Abstract |
We investigated whether the ratchet effects or the hysteresis effects in currency substitution exist in Asian countries during 2000s. As a result, we showed that there exist the hysteresis effects in currency substitution in these Asian countries. This result states that it is very important to make consideration the existence of currency substitution for selecting the optimal exchange rate system.
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