Yen for an anchor

Article Abstract:

The idea of a yen bloc, defined as a grouping of countries using the yen as the exchange currency, is discussed. The interdependence of Japan and the other Asian economies is reflected in the effects of the yen-dollar exchange rate fluctuations on East Asian economies. When the yen appreciates, growth rates increase in South Korea, Hongkong, Singapore and Taiwan, which compete with Japan. The effect on Indonesia, Thailand, Malaysia, Brunei and the Philippines, all importers from Japan, is the opposite. The resulting output fluctuations could be stabilized by manipulating the local currencies-dollar exchange rates.

Planning, International aspects, International economic integration, Economic integration, Yen (Japan)

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Monkey business

Article Abstract:

An analysis of Asian countries during 1992 shows that political liberalization occurs more easily in countries that pursue economic liberalization. Economic liberalization characterized by free markets makes people politically responsible because they have an interest in the community's prosperity. Moreover, governments that are interested in economic growth have to consider the needs of the politically conscious middle-class majority.

Editorial

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Region expects boost from US recovery

Article Abstract:

A panel of economists has made forecasts about the economic performance of 14 Asian countries in 1993. Both political and economic factors have been considered. The countries are Japan, South Korea, Taiwan, China, Hongkong, Thailand, Malaysia, Singapore, Indonesia, Philippines, India, Pakistan and Australia. Apart from Japan and Philippines, the economic performance of the other countries is likely to improve.

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