The internationalisation of the yen: essential issues overlooked
After years of foot-dragging over the need to internationalise the yen, in 1998 the Japanese government implemented a series of institutional measures to enhance the convenience of using the currency. These have had only modest success. This paper argues that three conditions need to be fulfilled before the yen can become a major international currency: confidence in the Japanese economy and its financial system, stability in the yen exchange rate, and fair and transparent market principles in...[Show more]
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