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Economic Foundation of Currency Cooperation in East-Asia:Analysis of Economic Integration Level Based on OCA Index

Abstract

本文利用最优货币区指数模型就1983-2007年的样本数据进行回归,在此基础上采用1996年和2007年的截面数据计算并比较东亚地区各主要经济体的双边OCA指数,以期纵向分析东亚地区经济一体化水平的动态变化。结果表明,东亚经济一体化水平较亚洲金融危机前有所提高,货币合作成本降低,同时其内部已经形成以东南亚国家为主体的小型经济区,在区内先行开展货币合作具有较强可行性。This paper tests the sample data(1983-2007)based on Optimum Currency Area(OCA)Index model and compares bilateral OCA index among major economies in East-Asia with cross-section data of 1996 and 2007 year,in order to analyse vertically dynamic change of East-Asian economic integration level.The conclusion shows that there is higher level of East-Asian economic integration than that before the Asian financial crisis,which may reduce currency cooperative cost,while one small-scale economic area is being formed composed of several Southeast-Asian countries where early currency cooperation should be carried out as soon as possible.2009年度北京师范大学青年教师人文社科研究基金的资

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