Monetary Integration
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Monetary Integration And Dollarization
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Author : Matias Vernengo
language : en
Publisher: Edward Elgar Publishing
Release Date : 2006-01-01
Monetary Integration And Dollarization written by Matias Vernengo and has been published by Edward Elgar Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2006-01-01 with Business & Economics categories.
This book brings together an impressive and diverse group of authors to discuss its central theme: whether or not the dollarized international monetary system is sustainable in the context of the global economy it helped create. In addition to its uniquely well-rounded and comprehensive coverage of the issues, this lively and highly readable volume provides an accurate assessment of the lack of consensus in the current debate. A must read for anyone interested in currency crises and the increasing vulnerability of the dollar. Jane D Arista, Director of Progams, Financial Markets Center, US This book deals with the economic consequences of monetary integration, which has long been dominated by the Optimal Currency Area (OCA) paradigm. In this model, money is perceived as having developed from a private sector cost minimization process to facilitate transactions. Not surprisingly, the book argues, the main advantage of monetary integration in the OCA context is the reduction of transaction costs, yet the validity of OCA to analyze processes of monetary integration seems to be limited at best. The contributors in this volume try to go beyond the OCA model and understand the political economy of monetary integration by comparing the European Monetary Union with the dollarization (formal and informal) process in Latin America. The contributors, many of whom are leading lights, reflect the disagreements and the changing views on the proper monetary arrangements in a globalized world and suggest that monetary integration and dollarization are not the solution for the great majority of countries around the world. Monetary Integration and Dollarization brings together mainstream and heterodox views of monetary integration and uses the European and North American experiences as a guide for the discussion of dollarization in developing countries. It will appeal to scholars, researchers and policy makers in the fields of financial and international economics.
Monetary Integration In Europe
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Author : Horst Tomann
language : en
Publisher: Springer
Release Date : 2017-09-15
Monetary Integration In Europe written by Horst Tomann and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017-09-15 with Business & Economics categories.
This book provides a fully revised and up-to-date analysis of the Economic and Monetary Union (EMU). With four entirely new chapters on responses to the financial crisis and the debate on reform options, Tomann assesses the EMU in comparison with other currency regimes through the adoption of a historical analysis. The book discusses in detail basic issues with currency and comprehensively analyzes monetary policy, highlighting problems of policy coordination. Tomann explores new monetary institutions that have been established in response to the financial crisis, before addressing long-term issues and reviewing reform proposals. By focusing on monetary issues the book offers a better understanding of macroeconomic policies and international policy cooperation, and, by extension, provides a thorough economic assessment of the EMU as an institution as it stands today.
Asian Monetary Integration
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Author : Woosik Moon
language : en
Publisher: Edward Elgar Publishing
Release Date : 2012
Asian Monetary Integration written by Woosik Moon and has been published by Edward Elgar Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012 with Business & Economics categories.
Numerous ideas for monetary and financial cooperation in East Asia have been proposed both within and outside the region since the financial crisis in Asia. Despite this strong level of interest, however, there are few studies that aim to comprehensively address the issue from multiple perspectives. This insightful book redresses the balance and illustrates how East Asian countries plan to take advantage of their rising economic power in rearranging the new international monetary and financial order in the post-crisis era. The expert contributors examine the history, conditions and current efforts towards monetary integration in Asia and explore possible future paths, highlighting the roles and perspectives of East Asian countries in the integration process. They consider how East Asian economies could establish their own zone of monetary stability, and show that monetary stability cannot be separately addressed from the issues of economic growth and solidarity. Without economic growth and solidarity, there would be no purpose in pursuing monetary integration, therefore all three challenges must be simultaneously addressed. Against this backdrop, the book tackles the issues of East Asian monetary integration underpinned by the broad framework of economic growth and solidarity. Scholars of economics, monetary integration, Asian studies and regionalism will find this book to be an illuminating and thought-provoking read.
European Monetary Integration
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Author : Paul J.J. Welfens
language : en
Publisher: Springer Science & Business Media
Release Date : 2012-12-06
European Monetary Integration written by Paul J.J. Welfens and has been published by Springer Science & Business Media this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012-12-06 with Business & Economics categories.
EU 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 EU trade volumes. The analysis here focuses on the EMS crisis of 1992/93, the topic of optimum currency areas and the problem of fiscal policies and 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 EU single market project affect the process of economic and monetary union. The role of currency substitution and problems of the Bundesbank's monetary policy control in a changing international system are evaluated.
Interest Groups And Monetary Integration
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Author : Carsten Hefeker
language : en
Publisher: Routledge
Release Date : 2018-05-04
Interest Groups And Monetary Integration written by Carsten Hefeker and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018-05-04 with Political Science categories.
The currency question, Disreali is reported to have said, has made even more persons mad than love. A quantitative test of the accuracy of this comparison is, in the present deplorable state of medical statistics, scarcely possible, But Disraeli may well have been right.
Arab Monetary Integration Rle Economy Of Middle East
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Author : Khair El-Din Haseeb
language : en
Publisher: Routledge
Release Date : 2014-10-30
Arab Monetary Integration Rle Economy Of Middle East written by Khair El-Din Haseeb and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014-10-30 with Social Science categories.
Pre-eminent among the requisites for economic integration is monetary integration. It is the premise of the chapters in this book that if the Arab world is to achieve a closer degree of cooperation in economic and political spheres, the issue of monetary integration must be given much more attention. To this end the contributors to this book, who include well-known academics and economic experts from the Arab countries, Europe, the USA and Latin America, have looked at the experience of other areas of the world which have introduced monetary unity. They consider the experiences of Western Europe, Latin America and Western Africa, evaluating them with the objective of focusing on the various major issues which have to be coped with when planning for closer monetary cooperation. While the analysis concerning the scope for future Arab monetary integration revealed varying positions as to the factors which should be stressed and the pre-requisites which should be fulfilled, there emerged general agreement on certain major issues including the following: at the present time the Arab countries should strive to achieve partial rather than full monetary integration and to create the requisite conditions for such a move; economic and monetary integration should be viewed as mutually reinforcing rather than as successive processes; and the political will to achieve integration is a major pre-requisite for any move in that direction. First published in 1981.
Fiscal Aspects Of European Monetary Integration
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Author : Andrew Hughes Hallett
language : en
Publisher: Cambridge University Press
Release Date : 1999-10-07
Fiscal Aspects Of European Monetary Integration written by Andrew Hughes Hallett and has been published by Cambridge University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 1999-10-07 with Business & Economics categories.
A survey of fiscal policy under the restrictions of a single monetary policy and the Stability Pact.
The Ecu And European Monetary Integration
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Author : P. de Grauwe
language : en
Publisher: Springer
Release Date : 1988-10-28
The Ecu And European Monetary Integration written by P. de Grauwe and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 1988-10-28 with Business & Economics categories.
The creation of the ECU in 1979 as part of the newly established European Monetary system was greeted with widespread scepticism, few predicted the success it would have in private financial markets. The macroeconomic and microeconomic implications of the ECU and its significance for monetary integration in Europe are considered by a variety of contributors from academics to those in banking circles. Current research is examined and the theoretical and empirical aspects of the emergence of the ECU as a vehicle for European policy-making are considered to provide insights as to its future development.
Experiences With Monetary Integration And Lessons For Korean Unification
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Author : Goohoon Kwon
language : en
Publisher: International Monetary Fund
Release Date : 1997-05-01
Experiences With Monetary Integration And Lessons For Korean Unification written by Goohoon Kwon and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 1997-05-01 with Business & Economics categories.
This paper discusses the timing of monetary integration and supporting economic policies during a rapid and largely uncontrolled process of Korean unification. The paper concludes that the transitory use of a separate currency in each region and supporting economic policies would help limit the initial costs of unification although the extent of the eventual cost reduction would depend critically on the success of ensuing economic reforms in the North during the transition. Maintaining the competitiveness of the northern economy would need to be a primary policy objective in the case of an early introduction of a common currency.
Inclusion Of Central European Countries In The European Monetary Union
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Author : Paul C. de Grauwe
language : en
Publisher: Springer Science & Business Media
Release Date : 2012-12-06
Inclusion Of Central European Countries In The European Monetary Union written by Paul C. de Grauwe and has been published by Springer Science & Business Media this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012-12-06 with Business & Economics categories.
The creation of the European Economic and Monetary Union (EMU) and the introduction of the euro is a historical event for the EU countries. The debates on the desirability of the EMU provoked a vast economic literature dealing with the theory of the optimum currency area, costs and benefits of the EMU, symmetric vs. asymmetric shocks, alternative mechanisms of adjustment in a monetary union and so forth. Until recently, for the Central European candidate countries for a full membership in the EU, these issues seemed to be too far away, as they concentrated on devising their own monetary and exchange rate systems suitable for their transition period. The challenges of the EMU for the Central European countries were practically not dealt with in both Western and Eastern economic literature. The present book aims to fill this gap, by focusing on the most direct issue of relevance for the Central European countries with respect to the EMU - why, how and when these countries are expected to join the EMU. The papers included in this volume study the relationship between the EU accession process of the Central European candidate countries and their involvement in the process of European monetary integration.