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    Please use this identifier to cite or link to this item: http://tkuir.lib.tku.edu.tw:8080/dspace/handle/987654321/95248


    Title: 由歐元看亞元之可行性:一般化購買力評價理論再應用
    Other Titles: From Euro to Asian Dollar : An Application of Generalized Purchasing Power Parity
    Authors: 聶建中
    Contributors: 淡江大學財務金融學系
    Keywords: 歐元;亞洲貨幣單位;最適貨幣區域;區域整合;一般購買力平價;Euro;Asian Currency Unit;Optimum Currency Area;Regional Integration;Generalized Purchasing Power Parity
    Date: 2002-04
    Issue Date: 2014-02-11 23:58:48 (UTC+8)
    Abstract: 以最佳貨幣區之理論為基礎,本文比較歐洲與亞洲之多國設定,實證評估亞洲區域經濟暨貨幣整合之適切性。採用一般化購買力評價理論,並運用Johansen(1988,1990,&1994)五個向量自我迴歸模型,本研究實證發現,歐、亞兩經濟區塊都能建構出最佳貨幣區;然而,歐元十一國內之高度共整連接,顯示出歐元之可信度與有效性都較亞元來的堅實。本研究另由因果關係發現,歐元各國擁有權重相當之領先地位,而亞洲國家則出現領先-落後地位不一之現象。結論可得歐元國之最佳貨幣區建構較為完整,且歐元之設立較具合適性;至於亞元之成立,需要亞洲各國之政策釐定者,對亞元區國家經暨貨幣之整合,付出更多的努力,以提高亞元之可信度與有效性,俾利亞元之順利建構。
    This paper empirically assesses the suitability of the Asian economiesfor a regional monetary integration, by comparing two regionalmulti-nation settings - Europe and Asia, on the basis of forming anoptimum currency area (OCA). By adopting the theory of G-PPP andapplying five Johansen VAR models, this paper argues that both regionswell constitute the domain of the OCAs. However, the higher degree ofthe linkage within the eleven euro countries implies the more suitablecircumstance for the creditability and the effectiveness of the eurothan the Asian currency unit (ACU). Moreover, from the Grangercausality test, euro countries are found more equal weighted in theirleading positions than those countries in the Asian. This paperconcludes that European countries' setting is more suitable forconstituting the domain of the OCA and thus the set up of the euro isappropriate. On the other hand, policy makers in each of the Asiancountries need more exertions in fulfilling the regional economic andmonetary integration in order for the ACU to be properly constituted.
    Relation: 第三屆全國實證經濟學論文研討會論文集,頁41293
    Appears in Collections:[Graduate Institute & Department of Banking and Finance] Proceeding

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