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East Asian Currency Area: A Fuzzy Clustering Analysis of Homogeneity

Author

Listed:
  • Toan Nguyen

    (Room 1, Engineering Building No. 4, Yoshida Honmachi, Sakyo-ku, Kyoto,Japan)

Abstract

This paper attempts to examine the degree of homogeneity and the plausibility of a currency union in East Asia from the perspective of multiple OCA criteria, using the technique of fuzzy clustering analysis. The question of homogeneity is obviously of importance to the smooth formation and operation of the prospective currency union. We find that East Asia has not been sufficiently homogeneous and can be divided into about four groups with significant degree of fuzziness. We find no notable trend of convergence from the data. In fact, East Asian has appeared to be more diverged since the onset of the regional financial crisis. Thus, we suspect the possibility of forming a currency union in East Asia in the near future.

Suggested Citation

  • Toan Nguyen, 2007. "East Asian Currency Area: A Fuzzy Clustering Analysis of Homogeneity," Working Papers 10, Development and Policies Research Center (DEPOCEN), Vietnam.
    • Handle: RePEc:dpc:wpaper:1007
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    File URL: http://www.depocenwp.org/upload/pubs/NguyenNgocToan/East_Asian_Currency_Area_Depocenwp.pdf
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    Citations

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    Cited by:

    1. Chee-Heong Quah, 2012. "Can Japan or China replace the US as the monetary anchor for Hong Kong and Macau?," Asia Pacific Business Review, Taylor & Francis Journals, vol. 18(3), pages 335-354, July.
    2. Chee-Heong Quah & Patrick Crowley, 2012. "Which country should be the monetary anchor for East Asia: the US, Japan or China?," Journal of the Asia Pacific Economy, Taylor & Francis Journals, vol. 17(1), pages 94-112.
    3. Chee-Heong Quah & Patrick M. Crowley, 2012. "China and the Dollar: An Optimum Currency Area View," Prague Economic Papers, Prague University of Economics and Business, vol. 2012(4), pages 391-411.
    4. Chee-Heong Quah, 2016. "A Diagnostic on the West African Monetary Union," South African Journal of Economics, Economic Society of South Africa, vol. 84(1), pages 129-148, March.
    5. Chee-Heong Quah, 2011. "Is East Asia as prepared as eurozone for monetary union?," Journal of Business Economics and Management, Taylor & Francis Journals, vol. 13(3), pages 471-488, April.
    6. Quah Chee-Heong, 2019. "China’s Dollar-linked Hong Kong during the Global Crisis," Apuntes del Cenes, Universidad Pedagógica y Tecnológica de Colombia, vol. 38(67), pages 95-121, February.
    7. repec:prg:jnlpep:v:2013:y:2013:i:4:id:431:p:391-411 is not listed on IDEAS

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