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Asian Currency Cooperation and the Potential Microeconomic Effects of Reduced Exchange Rate Fluctuations

In: Currency Cooperation in East Asia

Author

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  • Hans-H. Bleuel

    (Duesseldorf University of Applied Sciences)

Abstract

Foreign exchange fluctuations are an external risk for international cooperation and hinder cross-border trade. From an economic perspective this results in lost trade opportunities. Therefore, this chapter assumes stabilization of the real exchange rate as the major target of currency cooperation. Some basics of corporate currency risk and exposure (management) are summarized. The aim is to highlight the determinants of currency risk. These are contrasted with some readily available empirical data on (South-) East Asia that refer to fluctuations of regional real exchange rates, trade structures and corporate foreign exchange risk management procedures. This analysis shows that none of the determinants of corporate foreign exchange risk have any apparent empirical relevance. Accordingly, the results cast doubt on the positive net effects of further regional currency cooperation.

Suggested Citation

  • Hans-H. Bleuel, 2014. "Asian Currency Cooperation and the Potential Microeconomic Effects of Reduced Exchange Rate Fluctuations," Financial and Monetary Policy Studies, in: Frank Rövekamp & Hanns Günther Hilpert (ed.), Currency Cooperation in East Asia, edition 127, pages 133-142, Springer.
    • Handle: RePEc:spr:fimchp:978-3-319-03062-3_9
    DOI: 10.1007/978-3-319-03062-3_9
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    Cited by:

    1. Bleuel, Hans-H., 2014. "Ökonomische Wechselkursrisiken: Relevanz, Bestimmung und Steuerung im russisch-deutschen Geschäftsverkehr [Foreign Exchange Risk: Relevance, Analysis and Management in German-Russian Business]," Duesseldorf Working Papers in Applied Management and Economics 25, Duesseldorf University of Applied Sciences.
    2. Bleuel, Hans-H., 2014. "Ökonomische Wechselkursrisiken: Relevanz, Bestimmung und Steuerung im russisch-deutschen Geschäftsverkehr
      [Foreign Exchange Risk: Relevance, Analysis and Management in German-Russian Business]      ," Duesseldorf Working Papers in Applied Management and Economics fobe25, Duesseldorf University of Applied Sciences.

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