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Monetary and Financial Cooperation Between China and the One Belt One Road Countries

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  • Jin Sun
  • Jack W. Hou

Abstract

Based on the theory of optimal currency area (OCA), we calculate the OCA index between China and the OBOR partners with the expressed objective of identifying which partners exhibit monetary and financial compatibilities, and hence present the best potential in terms of cost and benefits. Our findings suggest that among South East Asia region, Malaysia exhibits the highest compatibility and profit potential, followed by Thailand and Vietnam. For the East European area, Poland and Croatia show the best potential in terms of monetary and financial cooperation; with the Czech Republic as close third. Based on our computation, currently Central Asia and the Middle East do not possess the condition or potential for beneficial financial and monetary collaboration.

Suggested Citation

  • Jin Sun & Jack W. Hou, 2019. "Monetary and Financial Cooperation Between China and the One Belt One Road Countries," Emerging Markets Finance and Trade, Taylor & Francis Journals, vol. 55(11), pages 2609-2627, September.
    • Handle: RePEc:mes:emfitr:v:55:y:2019:i:11:p:2609-2627
    DOI: 10.1080/1540496X.2018.1540976
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    Cited by:

    1. Mingying Zhu & Zhiren Hu, 2023. "“One Belt One Road” and women development," International Studies of Economics, John Wiley & Sons, vol. 18(4), pages 394-429, December.
    2. Hongjun Zeng & Abdullahi D. Ahmed, 2022. "Market integration and volatility spillover across major East Asian stock and Bitcoin markets: an empirical assessment," International Journal of Managerial Finance, Emerald Group Publishing Limited, vol. 19(4), pages 772-802, August.
    3. Sun, Jin & Luo, Yitong & Zhou, Yuan, 2022. "The impact of regional trade agreements on the quality of export products in China’s manufacturing industry," Journal of Asian Economics, Elsevier, vol. 80(C).
    4. Hannes Thees, 2020. "Towards Local Sustainability of Mega Infrastructure: Reviewing Research on the New Silk Road," Sustainability, MDPI, vol. 12(24), pages 1-35, December.
    5. Dai, Zhifeng & Zhu, Haoyang, 2022. "Time-varying spillover effects and investment strategies between WTI crude oil, natural gas and Chinese stock markets related to belt and road initiative," Energy Economics, Elsevier, vol. 108(C).
    6. Jian Xu & Muhammad Haris & Hongxing Yao, 2019. "Should Listed Banks Be Concerned with Intellectual Capital in Emerging Asian Markets? A Comparison between China and Pakistan," Sustainability, MDPI, vol. 11(23), pages 1-23, November.
    7. Chai, Li & Wang, Yuqi & Qi, Xiaohong, 2024. "Cross-category connectedness between Shanghai crude oil futures and Chinese stock markets related to the Belt and Road Initiative," The North American Journal of Economics and Finance, Elsevier, vol. 73(C).
    8. Sha, Yezhou & Song, Weijia, 2021. "Can Bitcoin hedge Belt and Road equity markets?," Finance Research Letters, Elsevier, vol. 42(C).

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