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Japan and the international monetary regime

Patrick, Hugh T.; Hamada, Koichi

The international monetary regime, the set of rules that governs the monetary mechanism of international trade and investment, is one of the foundations of the world economy. The development of every national economy is conditioned by the way the international monetary regime is arranged, and every major economy has contributed, though with different degrees of importance, to its evolution. The Japanese economy is no exception. This paper reviews the postwar development of the international monetary regime involving Japan and Japan's growing involvement, evaluates the efficacy and viability of the current flexible exchange rate regimes, and speculates upon the possibility of the future reform of the international monetary regime as viewed across the Pacific.

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Academic Units
Center on Japanese Economy and Business
Publisher
Center on Japanese Economy and Business, Graduate School of Business, Columbia University
Series
Center on Japanese Economy and Business Working Papers, 5
Published Here
February 7, 2011
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