权益分类	功能权益	普通用户	{{item.name}}会员
{{category.name}}	{{benefitItem.name}}

Research on the adaptability of the European Financial and Monetary Area (EFCA) Model to Asia

欧洲金融货币区（EFCA）模式对亚洲的适应性研究

基本信息

批准号：
17530245
负责人：
IWATA Kenji
金额：
$ 2.05万
依托单位：
Kyushu University
依托单位国家：
日本
项目类别：
Grant-in-Aid for Scientific Research (C)
财政年份：
2005
资助国家：
日本
起止时间：
2005 至 2007
项目状态：
已结题

来源：
https://kaken.nii.ac.jp/grant/KAKENHI-PROJECT-17530245/
关键词：
Monetary Economics EU ; European Union Asia Monetary Cooperation Financial integration

项目摘要

The following points were clarified through this research.First, paper titled 'Formation of Regional Financial and Currency Area: Some Lessons from Europe to Asia' was read in the 3rd Conference of European Union Studies Association-Asia Pacific on December 2005.In the paper, the model of the European Financial and Currency Area (EFCA) was discussed as an indispensable aspect of Asian Integration.Second, concerning the equity markets that are the indispensable element of the FCA, a paper was submitted to NIRA(National Institute for Research Advancement).It was argued that, from the point of view of European experience, promotion of stock exchanges of home country with high level of liquidity and mutual linkage of them should be pursued in a mid-long term in Asian countries, although the traditional measure of the listing of foreign stock on the financial centers in core countries such as Tokyo will have some positive results as long as many restrictions are still effective. The paper was read on the 67th National Conference of Society for the Economic Studies of Securities, June 2007 as a panelist report.Thirdly, in the presentation titled 'Possibility of ACU learnt from Euro' in the Oita EU Society 20th Anniversary Symposium on June 2007,it was shown that, although ACU could be of some use as a regional standard of exchange rate etc, the Monetary Union should be pursued in such a limited region as ASEAN5 where economic development is in the same stage and some extent of economic integration is observed.Fourth, in the book, Contemporary International Finance, we showed that the euro zone where EFCA had been succeeded has expanded steadily in the surrounding area, because of the medium and long term stability of its current balance though it has not substituted dollar in global perspective.

通过本研究，明确了以下几点：第一，《区域金融货币区的形成：2005年12月，在欧盟研究协会第三届亚太地区会议上宣读了《欧洲对亚洲的启示》一文。文章认为，欧洲金融货币区（EFCA）模式是亚洲一体化不可或缺的一个方面。关于作为FCA不可或缺的要素的股票市场，向NIRA提交了一份文件据认为，从欧洲的经验来看，亚洲国家应在中长期内促进本国证券交易所的高流动性和相互联系，虽然在东京等核心国家的金融中心上市外资股的传统措施，只要许多限制仍然有效，也会有一定的积极效果。第三，在2007年6月举行的大分欧盟学会20周年研讨会上，以“借鉴欧元的ACU的可能性”为题的演讲中，虽然ACU作为地区汇率标准等可以发挥一定的作用，但在2007年6月举行的大分欧盟学会20周年研讨会上，ACU作为地区汇率标准的可能性被证明是存在的。第四，在《当代国际金融》一书中，我们指出，EFCA成功的欧元区在周边地区稳步扩张，由于其经常收支的中长期稳定性，尽管它在全球范围内还没有取代美元。