Asian rupee for a common electronic financial market of India and the ASEAN region
by Jack Penm
International Journal of Electronic Finance (IJEF), Vol. 1, No. 4, 2007

Abstract: Separate Indian and ASEAN stock markets with strong growth deriving from the information and communications technology revolution are seeking to become a more integrated common financial market for the India and the ASEAN countries. This aspiration could be thwarted if currencies and stock prices are excessively volatile. A well-integrated common electronic financial market underpinned by a common currency would reduce this problem. In this paper, we explore the necessity for and practicability of a currency union for India and the ASEAN region. The detected cointegrating relations indicate that an ASEAN and Indian currency union is likely to be developed.

Online publication date: Wed, 21-Mar-2007

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