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The economic convergence in ASEAN and prospects for a monetary union

Philippine Review of Economics

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Title The economic convergence in ASEAN and prospects for a monetary union
 
Creator Mongid, Abdul; STIE Perbanas, Surabaya
 
Subject exchange rate; inflation rate; industrial production; base money and cointegration test; monetary union
 
Description ASEAN countries have deliberated on the feasibility of a monetary union that seeks to set a common currency in the region. This is in accordance with the second declaration of the Bali Concord reaffirming the intention toward economic cooperation and integration. This study investigates the possibility of convergence of economic and monetary variables among ASEAN member countries by using cointegration methodology on economic data. The study found that most monetary data are not converged. Based on the results, monetary union in the form of a currency union is not yet feasible. However, ASEAN countries should start to apply a loose monetary union and dare to step onward and act consistently. JEL classification: F15, F33, F36
 
Publisher Philippine Review of Economics
 
Contributor —
 
Date 2006-06-06
 
Type info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
Peer-reviewed Article
 
Format application/pdf
 
Identifier http://www.econ.upd.edu.ph/pre/index.php/pre/article/view/243
 
Source Philippine Review of Economics; Vol 43, No 1 (2006)
1655-1516
 
Language eng
 
Relation http://www.econ.upd.edu.ph/pre/index.php/pre/article/view/243/621
 
Rights Copyright (c) 2017 Philippine Review of Economics