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A study of optimum currency area in East Asia: a cluster analysis


Ibrahim, Saifuzzaman (2008) A study of optimum currency area in East Asia: a cluster analysis. Journal of Economic Integration, 23 (4). pp. 765-790. ISSN 1225-651X; ESSN: 1976-5525


This paper studies the feasibility of ASEAN+3 Monetary Union by investigating the homogeneities of the countries. Utilizing techniques of cluster analysis on two sets of criteria, the Optimum Currency Area (OCA) and the adjusted Maastricht Treaty (MTC), reveals that homogeneities of ASEAN+3 are low and the immediate formation of a monetary union would entail serious potential costs. Furthermore, our findings suggest that grouping differ between pre-crisis and post-crisis periods which could be due to the different impact of the crisis on the economic structure of these countries.

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Additional Metadata

Item Type: Article
Divisions: Faculty of Economics and Management
DOI Number: https://doi.org/10.11130/jei.2008.23.4.765
Publisher: Center for Economic Integration, Sejong Institution, Sejong University
Keywords: Optimum currency area; Cluster analysis; East Asia
Depositing User: Nabilah Mustapa
Date Deposited: 05 May 2015 13:11
Last Modified: 30 Sep 2015 07:21
Altmetrics: http://www.altmetric.com/details.php?domain=psasir.upm.edu.my&doi=10.11130/jei.2008.23.4.765
URI: http://psasir.upm.edu.my/id/eprint/12870
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