|
|
|
|
||||
|
||||
Asymmetric Effects on East Asian Financial Integration: Is There 'Japanese Dominance'?Ying Sophie HuangZhejiang University Feng GuoInstitute of International Finance Review of Pacific Basin Financial Markets and Policies, 2007 (10), No. 2, pp193-214 Abstract: This paper examines the extent of asymmetric effects and the hypothesis of Japanese dominance in East Asian financial integration by analyzing the transmission mechanism to local interest rates originating in both Japan and the US. The results support a weak version of the hypothesis in the cases of Malaysia and Taiwan, since there exist unidirectional causality effects from Japan. In addition, empirical evidence indicates that the sensitivity of local interest rates to US interest rate has declined in Korea and Thailand after they abandoned pegged exchange rate regimes in the post-crisis period.
Keywords: Interest rates, Asymmetry, Japanese Dominance JEL Classification: F21, F36 Accepted Paper SeriesDate posted: March 8, 2007 ; Last revised: September 12, 2008Suggested CitationContact Information
|
|
||||||||||||||||||
© 2013 Social Science Electronic Publishing, Inc. All Rights Reserved.
FAQ
Terms of Use
Privacy Policy
Copyright
This page was processed by apollo6 in 0.359 seconds
