Title: Asian rupee for a common electronic financial market of India and the ASEAN region

Authors: Jack Penm

Addresses: School of Finance and Applied Statistics, ANU College of Business and Economics, The Australian National University, Canberra, Australia

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.

Keywords: common currency; India; ASEAN; information technology; communications technology; ICT; electronic finance; financial markets.

DOI: 10.1504/IJEF.2007.012900

International Journal of Electronic Finance, 2007 Vol.1 No.4, pp.473 - 483

Published online: 21 Mar 2007 *

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