Category

Number of Access this item:1,091（2024-04-20 12:57 Counts）

Identifier to cite or link to this item: https://hdl.handle.net/10086/17128

Link to primary information 

File Format Size Views Description
cover_17128 pdf
gd08-050 pdf 696 KB 885

Item Information

Output File

Title
External Adjustments under Increasing Integration: Japanese Perspective
Creator
Creator Name
Ogawa, Eiji Ogawa, Eiji
小川, 英治 小川, 英治
オガワ, エイジ オガワ, エイジ
Affiliation
Affiliation Name
Hitotsubashi University
Creator Name
Iwatsubo, Kentaro Iwatsubo, Kentaro
岩壷, 健太郎 岩壷, 健太郎
イワツボ, ケンタロウ イワツボ, ケンタロウ
Affiliation
Affiliation Name
Kobe University
Editor
Contributor Name
社会科学の高度統計・実証分析拠点構築 = Research Unit for Statistical and Empirical Analysis in Social Sciences
Abstract
This paper is to investigate how much realignment of currencies is needed for adjustments to the current account imbalances of Japan compared with those of East Asia as a whole, given the productions networks in East Asia. The analyses show that the large realignments of the Japanese yen and other East Asian currencies would be needed if the adjustments are completed with only exchange rates. We also find that the degree of the exchange rate adjustments of East Asia as a whole is smaller than that of Japan only. Moreover, we investigate why the adjustment becomes more difficult if we rely only on the exchange rates in Japan. We find that Japanese outward FDI has increased independently with the exchange rate and that a ratio of income account to current account has increased due to the FDI. The findings imply that the Japanese economy has an increasing structural part of the Japanese current account which does not respond to the exchange rate movement.
Description
First version: March 9, 2008; This version: March 21, 2009
Publisher
Institute of Economic Research, Hitotsubashi University
Issued Date
2009-03
Language
English(eng)
Resource Type
technical report
Version Type
VoR
Is Part OfRelation -
Related Title
Global COE Hi-Stat Discussion Paper Series ; No. 50
Relation
Related Identifier
URI
  http://gcoe.ier.hit-u.ac.jp/english/index.html
Number of Pages
41
Sponsorship
グローバルCOEプログラム = Global COE Program
Edition
[Revised version]
Appears in Collections
Global COE Hi-Stat Discussion Paper Series
URL
https://hdl.handle.net/10086/17128