Exchange rates under the East Asian dollar standard : living with conflicted virtue / Ronald I. McKinnon.
"The increasingly integrated economies of East Asia - China, Hong Kong, Indonesia, Japan, Korea, Malaysia, the Philippines, Singapore, Taiwan, and Thailand - face the dilemma of how to achieve exchange-rate security in the absence of a unifying "Asian euro." The U.S. dollar has become...
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| Format: | Book |
| Language: | English |
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Cambridge, MA :
MIT Press,
[2005]
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| Summary: | "The increasingly integrated economies of East Asia - China, Hong Kong, Indonesia, Japan, Korea, Malaysia, the Philippines, Singapore, Taiwan, and Thailand - face the dilemma of how to achieve exchange-rate security in the absence of a unifying "Asian euro." The U.S. dollar has become the region's dominant intraregional trading currency as well as the monetary anchor to which East Asian economies informally peg their currencies. In this timely and original analysis of the benefits and risks of an East Asian dollar standard, Ronald McKinnon takes issue with the conventional view that urges flexible exchange rates on financially fragile economies. He argues instead that East Asian countries should coordinate their policies to keep their exchange rates stable against the dollar."--BOOK JACKET. |
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| Physical Description: | x, 279 pages : illustrations ; 24 cm |
| Bibliography: | Includes bibliographical references and index. |
| ISBN: | 0262134519 9780262134514 |