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題名 亞洲通貨單位之編製與研究
作者 邱莉婷
貢獻者 李桐豪
邱莉婷
關鍵詞 亞洲貨幣單位
資本管制係數
Asian Currency Unit
日期 2008
上傳時間 8-Dec-2010 16:08:24 (UTC+8)
摘要 歐元成功的發行流通,以及歐盟貨幣暨經濟同盟的合作關係,帶動歐元區亮麗的經濟成長。亞洲在經歷1997年金融風暴後,各界倡議亞洲應加速進行貨幣合作,以減少匯率波動對經濟帶來的衝擊。
亞洲可參考歐元前身-歐洲通貨單位(European Currency Unit, ECU)的經驗來編製亞元。但問題在於,相對於歐盟國家,亞洲國家經濟發展與政治背景差異大。本文主要探討,何種總體條件納入亞元權數的計算,可避免亞元產生不必要的波動,並嘗試納入外匯政策有關變數,以反映亞洲國家間的歧異。另外,亦希望從試編亞元,模擬台灣加入亞元的可能影響。
研究結果發現:1.亞元權重,採GDP ppp計算權值,使ACU波動最小。隱含,對亞洲來說,當經濟發展越相近,有助穩定ACU。2.採出口值、進口值或總貿易值作權重,對ACU之影響,差異不大。3.增加調整基期,ACU較為穩定。4.台灣加入ACU後波動度明顯變小,而僅有東協加三組成之ACU波動程度最大。5.加入資本管制變數後,ACU的波動度均下降。
參考文獻 一、中文部分(依筆劃順序)
1. 田慧琦(2001),「資本帳管制對我國資本移動與股、匯市波動之影響」,中央銀行季刊,第23卷,第2期。
2. 朱美麗(2002),「資本移動、投機行為與幣值不穩定之分析」,行政院國家科學委員會補助專題研究計畫成果報告。
3. 李文志、張珈健 (2005),「全球化東協區域貨幣協調-治理機制的探討:東協的觀點」,南投:2005年臺灣的東南亞區域研究年度論文研討會。
4. 李榮謙(2007),國際貨幣與金融,台北:智勝文化。
5. 周小川(2009),「關於改革國際貨幣體系的思考」,中國人民銀行,http://www.chinese.wsj.com。
6. 胡春田(1999),「由東南亞金融風暴看資本帳之結構問題與開放政策,中、泰、印、韓之比較」,中央銀行季刊,第21卷,第3期。
7. 徐玉瑛(2006),「亞洲單一貨幣化與海外投資政策關聯性分析」,中原大學企業管理研究所碩士論文。
8. 馬千惠(2001),「資本管制開放與資本移動關係的再探討」,中央銀行季刊,第23卷,第1期。
9. 陳志祥(2002),「亞洲單一貨幣最適目標區建構與貨幣政策關聯性研究」,中原大學企業管理研究所碩士論文。
10. 陳若暉、王祝三、林汶玲(2001),「亞洲單一貨幣整合其相關經濟指標之決定-橫斷面時間序列混合資料分析」,亞太經濟管理評論,第4卷,第2期。
11. 陳若暉、謝欣翰 (2004),「亞洲貨幣單一化與各國貿易之關聯性研究」,亞太社會科技學報,第3卷,第2期。
12. 彭德明(2005),「東亞共同通貨區可行性初探-兼論東亞地區的經濟與金融合作」,中央銀行季刊,第27卷,第4期。
13. 劉邦海 (1989),歐洲貨幣制度與歐洲通貨單位,台北:財團法人金融人員研究訓練中心。
14. 劉邦海 (1993),歐洲經濟暨貨幣同盟,台北:商鼎。

一、英文部分
1. Adams, C. and H. K. Chow (2007), ”Asian Currency Baskets: A Useful Surveillance Tool?” April 2007.
2. APEC(2004), ”Summary On Debt Collection Litigation/Arbitration In APEC Economies,” Strengthening Economic Legal Infrastructure Coordinating Group Santiago, Chile, 26 February, 2004.
3. Asian Development Bank (2006), “ASEAN+3 Regional Basket Currency Bonds,” Technical Assistance Report, August 2006.
4. Bayoumi, T., B. Eichengreen, and P. Mauro (1999), “On regional monetary arrangements for Asean,” Prepared for the ADB/CEPII/KIEP Conference on Exchange Rate Regimes in Emerging Market Economies, Tokyo, December 17-18, 1999.
5. Collignon, S. (1994), Europe’s Monetary Future, European Parliament.
6. Dutta, M. (2007), European Union and the Euro Revolution, Elsevier B.V. UK.
7. Eichengreen, B. (2000), “The EMS crisis in petrospect”, NBER Working Paper Series 8035.
8. Eichengreen, B. (2006), “The Parallel Currency Approach to Asian Monetary integration”, The American Economic Association annual meeting allied social science associations, January 6-8, 2006. http://www.aeaweb.org/annual_mtg_papers/2006/0107_1015_1303.pdf.
9. Eichengreen, B. and T. Bayoumi (1996), “Is Asia an optimum currency area? Can it become one?” http://repositories.cdlib.org/cgi/viewcontent.cgi?article=1033&context=iber/cider.
10. Eichengreen, B. and Y. C. Park (2003), “ Why Has There Been Less Financial Integration in Asia than in Europe?” http://ies.berkeley.edu/pubs/workingpapers/PEIF-4-Fiscal_Stability.pdf.
11. Glick, R. and M. Hutchison (2005), “Capital Control and Exchange Rate Instability in Developing Economies,” Journal International Money and Finance, Vol. 24, No.3, April 2005, pp.387-412.
12. Internation Monetary Fund (2007), Annual Report on Exchange Arrangements and Exchange Restrictions.
13. Ito, H. and M. Chinn (2007), “A New Measure of Financial Openness," mimeo, forthcoming Journal of Comparative Policy Analysis, May 23, 2007, p16.
14. Ito, H. and M. Chinn (2009), ”Notes to Chinn-Ito Financial Openness measure,” http://www.ssc.wisc.edu/~mchinn/Readme_kaopen2007.pdf , February 3, 2009.
15. Ito, T. (2003), “The ABC of Asian Bonds,” The 2nd Annual Conference of PECC Finance Forum, July 8-9, 2003.
16. Johnston, B. (1999), Exchange Rate Arrangements and Currency Convertibility Developments and Issues, IMF.
17. Kawai, M. (2006), ” Financial Integration and Bond Market Development in East Asia,” ADB, OECD-ADBI 8th Round Table on Capital Market Reform in Asia, Tokyo, October 2006.
18. Li, K. M.(2003), “Should Asia Adopt a Currency Area?” http://www.mtholyoke.edu/~kwing/econ/.
19. Miniane, J. (2004), "A New Set of Measures on Capital Account Restrictions," IMF Staff Papers, Vol. 51, No. 2, pp. 276–308.
20. Mody, A. and A. P. Murshid (2002), "Growing Up With Capital Flows," IMF Working Papers 02/75, International Monetary Fund.
21. Moon, W., Y. Rhee, and D. Yoon (2006), “Regional Currency Unit in Asia-Property and Perspective,” KIEP Working Paper 06-03, 2006.
22. Mundell, R. A. (1961), "A Theory of Optimum Currency Areas," American Economic Review vol. 51, pp. 657-665.
23. Ocampo, R. F. (2004), “A Single Currency for Asia: Is it time?” 37th ADB Annual Meeting, May 14, 007.
24. Ogawa, E. and J. Shimizu (2006), ”AMU Deviation Indicator for Coordinated Exchange Rate Policies in East Asia and its relation with effective exchange rates,” TIER-RIETI Workshop, December 8, 2006.
25. Ogawa, E. and K. Kawasaki (2007), ”East Asian Currency Cooperation,” CREP Seminar, June 26, 2007.
26. Rana, P. B. (2002), “Monetary and Financial Cooperation in East Asia: The Chiang Mai Initiative and Beyond,” ERD Working Paper Series No. 6, Economics and Research Department, ADB, February, 2002.
27. Zhang Z., K. Sato and M. McAleer(2002), “Is East Asia An Optimum Currency Area?” http://www.iemss.org/iemss2002/proceedings/pdf/volume%20due/438_zhang.pdf.
描述 碩士
國立政治大學
金融研究所
94352030
97
資料來源 http://thesis.lib.nccu.edu.tw/record/#G0094352030
資料類型 thesis
dc.contributor.advisor 李桐豪zh_TW
dc.contributor.author (Authors) 邱莉婷zh_TW
dc.creator (作者) 邱莉婷zh_TW
dc.date (日期) 2008en_US
dc.date.accessioned 8-Dec-2010 16:08:24 (UTC+8)-
dc.date.available 8-Dec-2010 16:08:24 (UTC+8)-
dc.date.issued (上傳時間) 8-Dec-2010 16:08:24 (UTC+8)-
dc.identifier (Other Identifiers) G0094352030en_US
dc.identifier.uri (URI) http://nccur.lib.nccu.edu.tw/handle/140.119/49662-
dc.description (描述) 碩士zh_TW
dc.description (描述) 國立政治大學zh_TW
dc.description (描述) 金融研究所zh_TW
dc.description (描述) 94352030zh_TW
dc.description (描述) 97zh_TW
dc.description.abstract (摘要) 歐元成功的發行流通,以及歐盟貨幣暨經濟同盟的合作關係,帶動歐元區亮麗的經濟成長。亞洲在經歷1997年金融風暴後,各界倡議亞洲應加速進行貨幣合作,以減少匯率波動對經濟帶來的衝擊。
亞洲可參考歐元前身-歐洲通貨單位(European Currency Unit, ECU)的經驗來編製亞元。但問題在於,相對於歐盟國家,亞洲國家經濟發展與政治背景差異大。本文主要探討,何種總體條件納入亞元權數的計算,可避免亞元產生不必要的波動,並嘗試納入外匯政策有關變數,以反映亞洲國家間的歧異。另外,亦希望從試編亞元,模擬台灣加入亞元的可能影響。
研究結果發現:1.亞元權重,採GDP ppp計算權值,使ACU波動最小。隱含,對亞洲來說,當經濟發展越相近,有助穩定ACU。2.採出口值、進口值或總貿易值作權重,對ACU之影響,差異不大。3.增加調整基期,ACU較為穩定。4.台灣加入ACU後波動度明顯變小,而僅有東協加三組成之ACU波動程度最大。5.加入資本管制變數後,ACU的波動度均下降。
zh_TW
dc.description.tableofcontents 第一章  緒 論 1
第一節  研究背景與動機 1
第二節  研究目的 3
第三節  研究流程與架構 3
第二章  文獻回顧 5
第一節  國際匯率制度的發展與匯率理論概要 5
第二節  最適通貨區理論 7
第三節  亞洲貨幣合作的進展 10
第三章  歐洲貨幣制度的經驗 19
第一節  歐洲貨幣同盟的發展 19
第二節  歐洲貨幣制度 22
第三節  歐洲金融風暴的經驗 27
第四章  試編亞洲貨幣單位(ACU) 29
第一節  試編不同成員組成下之ACU 29
第二節  資本管制係數納入ACU權數 70
第三節  小結 79
第五章  推動亞洲通貨單位(ACU)之探討 81
第一節  運用ACU加強亞洲金融合作 81
第二節  推動ACU可能面臨問題 83
第六章  結論與建議 84
第一節  結 論 84
第二節  建 議 87
參考文獻 89
附表 亞太區域16個經濟體之匯率安排與管制摘要表 92
zh_TW
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dc.source.uri (資料來源) http://thesis.lib.nccu.edu.tw/record/#G0094352030en_US
dc.subject (關鍵詞) 亞洲貨幣單位zh_TW
dc.subject (關鍵詞) 資本管制係數zh_TW
dc.subject (關鍵詞) Asian Currency Uniten_US
dc.title (題名) 亞洲通貨單位之編製與研究zh_TW
dc.type (資料類型) thesisen
dc.relation.reference (參考文獻) 一、中文部分(依筆劃順序)zh_TW
dc.relation.reference (參考文獻) 1. 田慧琦(2001),「資本帳管制對我國資本移動與股、匯市波動之影響」,中央銀行季刊,第23卷,第2期。zh_TW
dc.relation.reference (參考文獻) 2. 朱美麗(2002),「資本移動、投機行為與幣值不穩定之分析」,行政院國家科學委員會補助專題研究計畫成果報告。zh_TW
dc.relation.reference (參考文獻) 3. 李文志、張珈健 (2005),「全球化東協區域貨幣協調-治理機制的探討:東協的觀點」,南投:2005年臺灣的東南亞區域研究年度論文研討會。zh_TW
dc.relation.reference (參考文獻) 4. 李榮謙(2007),國際貨幣與金融,台北:智勝文化。zh_TW
dc.relation.reference (參考文獻) 5. 周小川(2009),「關於改革國際貨幣體系的思考」,中國人民銀行,http://www.chinese.wsj.com。zh_TW
dc.relation.reference (參考文獻) 6. 胡春田(1999),「由東南亞金融風暴看資本帳之結構問題與開放政策,中、泰、印、韓之比較」,中央銀行季刊,第21卷,第3期。zh_TW
dc.relation.reference (參考文獻) 7. 徐玉瑛(2006),「亞洲單一貨幣化與海外投資政策關聯性分析」,中原大學企業管理研究所碩士論文。zh_TW
dc.relation.reference (參考文獻) 8. 馬千惠(2001),「資本管制開放與資本移動關係的再探討」,中央銀行季刊,第23卷,第1期。zh_TW
dc.relation.reference (參考文獻) 9. 陳志祥(2002),「亞洲單一貨幣最適目標區建構與貨幣政策關聯性研究」,中原大學企業管理研究所碩士論文。zh_TW
dc.relation.reference (參考文獻) 10. 陳若暉、王祝三、林汶玲(2001),「亞洲單一貨幣整合其相關經濟指標之決定-橫斷面時間序列混合資料分析」,亞太經濟管理評論,第4卷,第2期。zh_TW
dc.relation.reference (參考文獻) 11. 陳若暉、謝欣翰 (2004),「亞洲貨幣單一化與各國貿易之關聯性研究」,亞太社會科技學報,第3卷,第2期。zh_TW
dc.relation.reference (參考文獻) 12. 彭德明(2005),「東亞共同通貨區可行性初探-兼論東亞地區的經濟與金融合作」,中央銀行季刊,第27卷,第4期。zh_TW
dc.relation.reference (參考文獻) 13. 劉邦海 (1989),歐洲貨幣制度與歐洲通貨單位,台北:財團法人金融人員研究訓練中心。zh_TW
dc.relation.reference (參考文獻) 14. 劉邦海 (1993),歐洲經濟暨貨幣同盟,台北:商鼎。zh_TW
dc.relation.reference (參考文獻) zh_TW
dc.relation.reference (參考文獻) 一、英文部分zh_TW
dc.relation.reference (參考文獻) 1. Adams, C. and H. K. Chow (2007), ”Asian Currency Baskets: A Useful Surveillance Tool?” April 2007.zh_TW
dc.relation.reference (參考文獻) 2. APEC(2004), ”Summary On Debt Collection Litigation/Arbitration In APEC Economies,” Strengthening Economic Legal Infrastructure Coordinating Group Santiago, Chile, 26 February, 2004.zh_TW
dc.relation.reference (參考文獻) 3. Asian Development Bank (2006), “ASEAN+3 Regional Basket Currency Bonds,” Technical Assistance Report, August 2006.zh_TW
dc.relation.reference (參考文獻) 4. Bayoumi, T., B. Eichengreen, and P. Mauro (1999), “On regional monetary arrangements for Asean,” Prepared for the ADB/CEPII/KIEP Conference on Exchange Rate Regimes in Emerging Market Economies, Tokyo, December 17-18, 1999.zh_TW
dc.relation.reference (參考文獻) 5. Collignon, S. (1994), Europe’s Monetary Future, European Parliament.zh_TW
dc.relation.reference (參考文獻) 6. Dutta, M. (2007), European Union and the Euro Revolution, Elsevier B.V. UK.zh_TW
dc.relation.reference (參考文獻) 7. Eichengreen, B. (2000), “The EMS crisis in petrospect”, NBER Working Paper Series 8035.zh_TW
dc.relation.reference (參考文獻) 8. Eichengreen, B. (2006), “The Parallel Currency Approach to Asian Monetary integration”, The American Economic Association annual meeting allied social science associations, January 6-8, 2006. http://www.aeaweb.org/annual_mtg_papers/2006/0107_1015_1303.pdf.zh_TW
dc.relation.reference (參考文獻) 9. Eichengreen, B. and T. Bayoumi (1996), “Is Asia an optimum currency area? Can it become one?” http://repositories.cdlib.org/cgi/viewcontent.cgi?article=1033&context=iber/cider.zh_TW
dc.relation.reference (參考文獻) 10. Eichengreen, B. and Y. C. Park (2003), “ Why Has There Been Less Financial Integration in Asia than in Europe?” http://ies.berkeley.edu/pubs/workingpapers/PEIF-4-Fiscal_Stability.pdf.zh_TW
dc.relation.reference (參考文獻) 11. Glick, R. and M. Hutchison (2005), “Capital Control and Exchange Rate Instability in Developing Economies,” Journal International Money and Finance, Vol. 24, No.3, April 2005, pp.387-412.zh_TW
dc.relation.reference (參考文獻) 12. Internation Monetary Fund (2007), Annual Report on Exchange Arrangements and Exchange Restrictions.zh_TW
dc.relation.reference (參考文獻) 13. Ito, H. and M. Chinn (2007), “A New Measure of Financial Openness," mimeo, forthcoming Journal of Comparative Policy Analysis, May 23, 2007, p16.zh_TW
dc.relation.reference (參考文獻) 14. Ito, H. and M. Chinn (2009), ”Notes to Chinn-Ito Financial Openness measure,” http://www.ssc.wisc.edu/~mchinn/Readme_kaopen2007.pdf , February 3, 2009.zh_TW
dc.relation.reference (參考文獻) 15. Ito, T. (2003), “The ABC of Asian Bonds,” The 2nd Annual Conference of PECC Finance Forum, July 8-9, 2003.zh_TW
dc.relation.reference (參考文獻) 16. Johnston, B. (1999), Exchange Rate Arrangements and Currency Convertibility Developments and Issues, IMF.zh_TW
dc.relation.reference (參考文獻) 17. Kawai, M. (2006), ” Financial Integration and Bond Market Development in East Asia,” ADB, OECD-ADBI 8th Round Table on Capital Market Reform in Asia, Tokyo, October 2006.zh_TW
dc.relation.reference (參考文獻) 18. Li, K. M.(2003), “Should Asia Adopt a Currency Area?” http://www.mtholyoke.edu/~kwing/econ/.zh_TW
dc.relation.reference (參考文獻) 19. Miniane, J. (2004), "A New Set of Measures on Capital Account Restrictions," IMF Staff Papers, Vol. 51, No. 2, pp. 276–308.zh_TW
dc.relation.reference (參考文獻) 20. Mody, A. and A. P. Murshid (2002), "Growing Up With Capital Flows," IMF Working Papers 02/75, International Monetary Fund.zh_TW
dc.relation.reference (參考文獻) 21. Moon, W., Y. Rhee, and D. Yoon (2006), “Regional Currency Unit in Asia-Property and Perspective,” KIEP Working Paper 06-03, 2006.zh_TW
dc.relation.reference (參考文獻) 22. Mundell, R. A. (1961), "A Theory of Optimum Currency Areas," American Economic Review vol. 51, pp. 657-665.zh_TW
dc.relation.reference (參考文獻) 23. Ocampo, R. F. (2004), “A Single Currency for Asia: Is it time?” 37th ADB Annual Meeting, May 14, 007.zh_TW
dc.relation.reference (參考文獻) 24. Ogawa, E. and J. Shimizu (2006), ”AMU Deviation Indicator for Coordinated Exchange Rate Policies in East Asia and its relation with effective exchange rates,” TIER-RIETI Workshop, December 8, 2006.zh_TW
dc.relation.reference (參考文獻) 25. Ogawa, E. and K. Kawasaki (2007), ”East Asian Currency Cooperation,” CREP Seminar, June 26, 2007.zh_TW
dc.relation.reference (參考文獻) 26. Rana, P. B. (2002), “Monetary and Financial Cooperation in East Asia: The Chiang Mai Initiative and Beyond,” ERD Working Paper Series No. 6, Economics and Research Department, ADB, February, 2002.zh_TW
dc.relation.reference (參考文獻) 27. Zhang Z., K. Sato and M. McAleer(2002), “Is East Asia An Optimum Currency Area?” http://www.iemss.org/iemss2002/proceedings/pdf/volume%20due/438_zhang.pdf.zh_TW