Overview
- Offers a comprehensive overview of the role and function of cash in East Asian economies
- Includes case studies addressing a broad audience of academics and policymakers from various fields
- Gathers contributions by leading specialists in their fields
- Includes supplementary material: sn.pub/extras
Part of the book series: Financial and Monetary Policy Studies (FMPS, volume 44)
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About this book
This book presents contributions by leading academics and practitioners from central banks to shed light on the function and impact of cash in Asian countries. It explores the impact of cash on society, the role of cash in monetary policy, and the future of cash in various monetary systems, contrasting case studies from China, Japan, Korea, and Singapore with experiences from Europe.
Recently the role of cash in the economy has become a much-discussed topic in Europe, but the issue is also of considerable relevance in Asia. Singapore and South Korea, for example, are relatively advanced in the use of cashless payments for daily exchanges, while countries like Japan still largely rely on cash for a wide range of transactions. Some economists argue for the abolition of cash so as to facilitate transactions, reduce the monetary scope of criminal transactions, and expand the available options for monetary policy through negative interest rates. Opposing voices claim that such a step would reduce the freedom of individuals and lead to a greater potential for monetary repression. The abolition of cash could also significantly impact the public’s monetary psychology, thereby influencing their inflation expectations, portfolio structure, saving behavior, and other important monetary parameters.
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Keywords
Table of contents (10 chapters)
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Cash and Its Impact on Society
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Cash and Monetary Policy
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On the Way to Cashless Societies?
Editors and Affiliations
About the editors
Prof. Dr. Moritz Bälz, LL.M. (Harvard) is a professor of Japanese Law and its Cultural Foundations at the Faculty of Law and director of the Interdisciplinary Centre for East Asian Studies (IZO) of Goethe University Frankfurt. Prior to assuming his current position in 2008, he worked for several years as an attorney with the international law firm Freshfields Bruckhaus Deringer in New York and Frankfurt. His research focuses on Japanese business law from a comparative perspective and dispute resolution in Japan.
Dr. Hanns Günther Hilpert is the Head of the Asia Division at the German Institute for International and Security Affairs (“Stiftung Wissenschaft und Politik”, SWP), Berlin. Formerly he worked for the German Institute for Japanese Studies (DIJ), Tokyo and the Ifo Institute for Economic Research, Munich. He has written and published several books and articles on the Japanese economy and on Asian trade and economic integration. His current research focuses on various policy-oriented economic issues of East Asia.
Bibliographic Information
Book Title: Cash in East Asia
Editors: Frank Rövekamp, Moritz Bälz, Hanns Günther Hilpert
Series Title: Financial and Monetary Policy Studies
DOI: https://doi.org/10.1007/978-3-319-59846-8
Publisher: Springer Cham
eBook Packages: Economics and Finance, Economics and Finance (R0)
Copyright Information: Springer International Publishing AG 2017
Hardcover ISBN: 978-3-319-59845-1Published: 06 September 2017
Softcover ISBN: 978-3-319-86716-8Published: 11 August 2018
eBook ISBN: 978-3-319-59846-8Published: 25 August 2017
Series ISSN: 0921-8580
Series E-ISSN: 2197-1889
Edition Number: 1
Number of Pages: XV, 181
Topics: Macroeconomics/Monetary Economics//Financial Economics, Banking, Asian Economics, Economic Policy