Why has the yen failed to become a dominant invoicing currency in Asia? A firm-level analysis of Japanese Exporters' invoicing behavior

Takatoshi Ito, Satoshi Koibuchi, Kiyotaka Sato, Junko Shimizu

NBER Working Paper No. 16231
Issued in July 2010

---- Acknowledgements -----

This study is supported by the Research Institute of Economy, Trade and Industry (RIETI) and the Ministry of Economy, Trade and Industry (METI). We wish to thank Masahiko Ozaki, Eiji Ogawa, Fukunari Kimura, Yuri Sasaki, Etsuro Shioji, and Kentaro Kawasaki for their supports on our interview research. We are grateful to Yusuke Naito, Kazunobu Hayakawa and Taiyo Yoshimi for their capable research assistance. We also thank Linda Goldberg, David Weinstein, Rebecca Hellerstein, Paolo Pesenti, Hugh Patrick, Shin-ichi Fukuda, Yuko Hashimoto, Robert Dekle, Masahiro Enya, Masanori Ono, and Zhang Zhiwei for their helpful comments on the earlier version of this paper. The views expressed herein are those of the authors and do not necessarily reflect the views of the National Bureau of Economic Research.

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