Front Matter

Author(s):
Yusuru Ozeki, and George Tavlas
Published Date:
January 1992
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    The following symbols have been used throughout this paper:

    • … to indicate that data are not available;

    • — to indicate that the figure is zero or less than half the final digit shown, or that the item does not exist;

    • – between years or months (e.g., 1990–91 or January-June) to indicate the years or months covered, including the beginning and ending years or months;

    • / between years (e.g., 1990/91) to indicate a crop or fiscal (financial) year.

    “Billion” means a thousand million.

    Minor discrepancies between constituent figures and totals are due to rounding.

    The term “country,” as used in this paper, does not in all cases refer to a territorial entity that is a state as understood by international law and practice; the term also covers some territorial entities that are not states, but for which statistical data are maintained and provided internationally on a separate and independent basis.

    © 1992 International Monetary Fund

    Library of Congress Cataloging-in-Publication Data

    Tavlas, George S.

    The internationalization of currencies: an appraisal of the Japanese yen / George S. Tavlas and Yuzuru Ozeki.

    • p. cm. — (Occasional paper / International Monetary Fund; 90) Includes bibliographical references.

    • ISBN 1-55775-197-8

    • 1. Yen, Japanese. 2. International finance. 3. Monetary policy—Japan. I. Ozeki, Yuzuru. II. Title. III. Series: Occasional paper (International Monetary Fund); no. 90.

    HG1275.T26 1992

    332.4′56′0952—dc20

    91-46701

    CIP

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    Contents

    Preface

    This study was prepared in the Treasurer’s Department of the International Monetary Fund by George S. Tavlas, Senior Economist, and Yuzuru Ozeki, Economist. The authors are greatly indebted to David Williams for encouragement, guidance, and support at all stages during the preparation of this study. They have also benefited from helpful comments and suggestions from Stanley Black, David Blond, Peter Clark, Warren Coats, Max Corden, Robert Corker, Jeffrey Frankel, James Hanson, Yuzo Harada, Peter Isard, Charles Kindleberger, Norman Klath, Jorge Marquez-Ruarte, Michael Papaioannou, Orlando Roncesvalles, Walter Salant, Richard Stillson, Chikahisa Sumi, and Michael Ulan. Clorine La Fargue provided outstanding secretarial support, and Neeraj Rajpal provided outstanding research assistance. Special thanks are also due to three members of the External Relations Department: Paul Gleason for comprehensive editorial advice and assistance, Alicia Etchebarne-Bourdin for coding and galleying the manuscript, and Dorothy Thibodeau for bibliographic research. The Graphics Section of the Administration Department was responsible for the charts, typesetting, and production. The opinions expressed in this paper are those of the authors and do not necessarily reflect the views of the Fund.

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