Hodnocení měnové unie Bruneje a Singapuru použitím teorie optimální měnové oblasti

Abstract

The aim of this thesis is to assess, if it’s possible to evaluate the functioning of Monetary Union of Brunei and Singapore through the theory of Optimum currency area, and if it’s possible to calculate the value of OCA index for this union, which is based on the original equation from Bayoumi and Eichengreen. This thesis describes the various stages of integration, focus on monetary union and its characteristics, and describes advantages and disadvantages that arise from remaining in this integration stage. In this thesis is also characterized the theory of optimum currency area and its criteria. Thesis is presenting the description of Monetary union of Brunei and Singapore. The OCA index is estimated by using regression analysis. This estimated equation is subjected to statistical verification. The estimated equation along with variables wasn’t statistically significant and thus wasn’t possible to calculate the OCA index for the Monetary union of Brunei and Singapore, because there are two national currencies that are linked to one another in a currency board regime.