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Author : Peter B. Kenen,Ellen E. Meade
Publisher : Unknown
Page : 247 pages
File Size : 51,5 Mb
Release : 2014-05-14
Category : Currency question
ISBN : 1139129287
Author : Peter B. Kenen,Ellen E. Meade
Publisher : Cambridge University Press
Page : 199 pages
File Size : 43,9 Mb
Release : 2007-11-26
Category : Business & Economics
ISBN : 9781139466035
This book surveys the prospects for regional monetary integration in various parts of the world. Beginning with a brief review of the theory of optimal currency areas, it goes on to examine the structure and functioning of the European Monetary Union, then turns to the prospects for monetary integration elsewhere in the world - North America, South America, and East Asia. Such cooperation may take the form of full-fledged monetary unions or looser forms of monetary cooperation. The book emphasizes the economic and institutional requirements for successful monetary integration, including the need for a single central bank in the case of a full-fledged monetary union, and the corresponding need for multinational institutions to safeguard its independence and assure its accountability. The book concludes with a chapter on the implications of monetary integration for the United States and the US dollar.
Author : Pierre van der Haegen
Publisher : Taylor & Francis
Page : 536 pages
File Size : 45,6 Mb
Release : 2019-10-28
Category : Business & Economics
ISBN : 9781351150477
Originally published in 2004. This comprehensive collection provides an innovative analysis and a comparison between economic and financial integration in Europe and Latin America, addressed from a global, regional and country-specific perspective. It constitutes a valuable overview focusing on three topics: regional integration and monetary cooperation in Europe and Latin America, exchange rate strategies and financial sector structure. The collection is the outcome of a Workshop and high-level Seminar organized by the Banco de España and the European Central Bank that brought together senior European and Latin American central bankers, as well as senior representatives from international institutions. The 31 contributors presented high quality papers, allowing the reader to take advantage of a rigorous economic analysis that uses first-hand information and draws useful lessons for the future.
Author : Martina Metzger
Publisher : Springer
Page : 230 pages
File Size : 46,7 Mb
Release : 2005-11-29
Category : Business & Economics
ISBN : 9780230502444
This book argues for a new conceptual framework that analytically distinguishes between North-South monetary co-ordination, which involves an international key currency, and South-South arrangements between economies all marked by external indebtedness and the resulting macroeconomic instabilities ('original sin'). In this light, the book analyzes different types of monetary co-ordination, ranging from ad hoc exchange rate policy agreements to projects of a common supranational currency, and it examines selected regional cases in Eastern Europe, North and South America, Africa and Asia.
Author : Alfred Steinherr,Daniel Weiserbs
Publisher : Springer
Page : 276 pages
File Size : 41,8 Mb
Release : 1991-12-12
Category : Business & Economics
ISBN : 9781349110612
The papers in this book cover the wide range of Robert Triffin's expertise. For example, Jacques Larosire interprets the evolution of the international monetary system. Michel Aglietta critically appraises the international monetary system and suggests the present system is one that does not constrain domestic policy choices. The desirability, scope and means of policy co-ordination are analyzed in the contributions by James Tobin, Robert Solomon, John Williamson, Alexandre Lamfalussy and Wolfgang Rieke. Tommaso Padoa-Schioppa discusses the possible paths to European Monetary Union whilst Alfred Steinherr and Jacques Girard evaluate the past and future evolution of the ECU. Paul De Grauwe provides empirical answers to the highly debated question whether the EMS is a DM-zone.
Author : Paul J.J. Welfens
Publisher : Springer Science & Business Media
Page : 374 pages
File Size : 53,9 Mb
Release : 2012-12-06
Category : Business & Economics
ISBN : 9783642975400
EC monetary integration was reinforced in the 1980s when macroeconomic convergence and a dominant role of the German Bundesbank created the basis for relatively stable exchange rates and increasing EC trade volumes. Reduced capital controls and rising capital mobility as well as German unification caused shifts and shocks which undermined EMS stability in a critical period - the transition to EMU in accord with the Maastricht Treaty which called for further increasing monetary integration. The analysis focuses on these issues, the EMS crisis of 1992/93, the topic of optimum currency areas and the problem of fiscal policies/regional stabilization in Europe, the US and Canada. This book gives an assessment of the EMS developments and shows how financial market liberalization as well as the EC 1992 project affect the process of economic and monetary union.
Author : Warner Max Corden
Publisher : Princeton, N.J. : International Finance Section, Princeton University
Page : 58 pages
File Size : 42,8 Mb
Release : 1972
Category : Business & Economics
ISBN : IND:30000113866127
Author : Pierre van der Haegen,José Viñals
Publisher : Routledge
Page : 536 pages
File Size : 53,5 Mb
Release : 2020-10-15
Category : Electronic
ISBN : 1138620335
Originally published in 2004. This comprehensive collection provides an innovative analysis and a comparison between economic and financial integration in Europe and Latin America, addressed from a global, regional and country-specific perspective. It constitutes a valuable overview focusing on three topics: regional integration and monetary cooperation in Europe and Latin America, exchange rate strategies and financial sector structure. The collection is the outcome of a Workshop and high-level Seminar organized by the Banco de España and the European Central Bank that brought together senior European and Latin American central bankers, as well as senior representatives from international institutions. The 31 contributors presented high quality papers, allowing the reader to take advantage of a rigorous economic analysis that uses first-hand information and draws useful lessons for the future.
Author : Mr. Xavier Debrun,Ms. Catherine A. Pattillo,Mr. Paul R. Masson
Publisher : International Monetary Fund
Page : 71 pages
File Size : 41,7 Mb
Release : 2010-07-01
Category : Business & Economics
ISBN : 9781455283736
This paper develops a full-fledged cost-benefit analysis of monetary integration, and applies it to the currency unions actively pursued in Africa. The benefits of monetary union come from a more credible monetary policy, while the costs derive from real shock asymmetries and fiscal disparities. The model is calibrated using African data. Simulations indicate that the proposed EAC, ECOWAS, and SADC monetary unions bring about net benefits to some potential members, but modest net gains and sometimes net losses for others. Strengthening domestic macroeconomic frameworks is shown to provide some of the same improvements as monetary integration, reducing the latter’s relative attractiveness.
Author : Mr.Tamon Asonuma,Mr.Xavier Debrun,Mr.Paul R. Masson
Publisher : International Monetary Fund
Page : 61 pages
File Size : 42,7 Mb
Release : 2012-05-01
Category : Business & Economics
ISBN : 9781475541175
This paper proposes a quantitative assessment of the welfare effects arising from the Common Monetary Area (CMA) and an array of broader grouping among Southern African Development Community (SADC) countries. Model simulations suggest that (i) participating in the CMA benefits all members; (ii) joining the CMA individually is beneficial for all SADC members except Angola, Mauritius and Tanzania; (iii) creating a symmetric CMA-wide monetary union with a regional central bank carries some costs in terms of foregone anti-inflationary credibility; and (iv) SADC-wide symmetric monetary union continues to be beneficial for all except Mauritius, although the gains for existing CMA members are likely to be limited.
Author : Jeffrey T Richelson,Berhanu Abegaz,Patricia Dillon,David H Feldman
Publisher : Routledge
Page : 251 pages
File Size : 49,8 Mb
Release : 2019-07-11
Category : Political Science
ISBN : 9781000315158
The effort to establish economic, political, arid monetary integration in Europe is one of the great dramas of our time, and the implications of its success or failure are enormous for the rest of the world. In this volume distinguished economists and political scientists address the wide-ranging set of issues confronting the nations of Europe and explore the implications of the European experience for regional integration elsewhere. The distinguished contributors of this volume address an impressively broad range of issues, including the influence of Europe's troubled history since the 1930s, the performance of preferential trade arrangements and their impact on multilateral institutions such as the GATT, the particular impact of monetary integration, and the significance of all these developments for the political future of Europe. The Challenge of European Integration is a key document in the interpretation and understanding of current developments in Europe. It is required reading not just for economists and political scientists but for any student of contemporary Europe and of the emerging system of global trade and finance.
Author : Ulrich Volz
Publisher : MIT Press
Page : 339 pages
File Size : 42,9 Mb
Release : 2010
Category : East Asia
ISBN : 9780262013994
East Asian countries were notably uninterested in regional monetary integration until the late 1990's, when the Asian financial crisis revealed the fragility of the region's exchange rate arrangements and highlighted the need for a stronger regional financial architecture. Since then, the countries of East Asia have begun taking steps to explore monetary and financial cooperation, establishing such initiatives as regular consultations among finance ministers and central bank governors and the pooling of foreign exchange reserves. In this book Ulrich Volz investigates the prospects for monetary cooperation and integration in East Asia, using state-of-the-art theoretical and empirical tools to analyze the most promising policy options. --
Author : Mr.Paulo Drummond,Mr.S. K Wajid,Mr.Oral Williams
Publisher : International Monetary Fund
Page : 308 pages
File Size : 54,8 Mb
Release : 2015-01-12
Category : Business & Economics
ISBN : 9781484364413
The countries in the East African Community (EAC) are among the fastest growing economies in sub-Saharan Africa. The EAC countries are making significant progress toward financial integration, including harmonization of supervisory arrangements and practices and the modernization of monetary policy frameworks. This book focuses on regional integration in the EAC and argues that the establishment of a time table for the eliminating the sensitive-products list and establishing a supranational legal framework for resolving trade disputes are important reforms that should foster regional integration.
Author : Karl Bennett
Publisher : Unknown
Page : 24 pages
File Size : 49,5 Mb
Release : 1991
Category : Currency question
ISBN : UIUC:30112081697861
Author : Ulrich Volz
Publisher : Edward Elgar Publishing
Page : 393 pages
File Size : 49,5 Mb
Release : 2011
Category : Political Science
ISBN : 9781849809153
This book explores a central issue of the world economy today: the role of regional integration for economic development and global governance. The importance of this issue comes from the fact that the globalisation process that we have been experiencing in recent decades is also a process of open regionalism. [¿] To what extent does this process contribute to development? The reader will find many interesting answers to this question in the book, [which] is an outstanding contribution to this debate. I welcome its publication and look forward to its influence on global debates on the relations between regional integration, development and global governance.' - From the foreword by José Antonio Ocampo, Columbia University, US The contributors expertly provide a comparative perspective on regional integration in different regions of the world while at the same time analysing the various facets of integration, relating to trade, FDI, finance and monetary policies. They provide a comprehensive treatment of the subject and offer new perspectives on the potential developmental effects of regional integration and the implications of regional integration for global economic governance. Whilst highlighting and illustrating the potential benefits deriving from regional economic integration, the book also stresses the problems and challenges regional integration processes are usually confronted with.
