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Author: Philip Arestis
Publisher: Edward Elgar Publishing
ISBN:
Category : Monetary unions
Languages : en
Pages : 208
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Book Description
The integration process of The Common Market of the South (MERCOSUR) has been characterized by serious economic turbulence, including the devaluation of the Brazilian currency and the severe Argentinian monetary crisis. As a response to these difficulties, the adoption of monetary union has emerged as one possible solution to the financial uncertainty which has plagued this region. convinced that nothing less than full monetary union can bring stability to the region and ease the financial fragility of the member countries. This book discusses the future of MERCOSUR, focusing on monetary union and macroeconomic policy co-ordination, and addresses a number of important questions including: is it possible, or even desirable, to achieve monetary integration?; what would the pre-conditions be for establishing such a union?; what would the convergence criteria be for joining the monetary union?; and what are the expected economic consequences for the member countries? of EMU and the lessons which can be learnt by MERCOSUR countries, in terms of the difficult transitions they may have to face.
Author: Philip Arestis
Publisher: Edward Elgar Publishing
ISBN:
Category : Monetary unions
Languages : en
Pages : 208
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Book Description
The integration process of The Common Market of the South (MERCOSUR) has been characterized by serious economic turbulence, including the devaluation of the Brazilian currency and the severe Argentinian monetary crisis. As a response to these difficulties, the adoption of monetary union has emerged as one possible solution to the financial uncertainty which has plagued this region. convinced that nothing less than full monetary union can bring stability to the region and ease the financial fragility of the member countries. This book discusses the future of MERCOSUR, focusing on monetary union and macroeconomic policy co-ordination, and addresses a number of important questions including: is it possible, or even desirable, to achieve monetary integration?; what would the pre-conditions be for establishing such a union?; what would the convergence criteria be for joining the monetary union?; and what are the expected economic consequences for the member countries? of EMU and the lessons which can be learnt by MERCOSUR countries, in terms of the difficult transitions they may have to face.
Author: W. F. Duisenberg
Publisher:
ISBN:
Category :
Languages : en
Pages : 0
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Book Description
Author: Alfred Apholte
Publisher:
ISBN:
Category :
Languages : en
Pages : 72
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Book Description
Author: Soma Mukherjee
Publisher:
ISBN:
Category : Latin America
Languages : en
Pages : 136
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Book Description
Author: Pierre van der Haegen
Publisher: Taylor & Francis
ISBN: 1351150472
Category : Business & Economics
Languages : en
Pages : 536
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Book Description
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: Peter B. Kenen
Publisher: Cambridge University Press
ISBN: 1139466038
Category : Business & Economics
Languages : en
Pages : 199
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Book Description
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: Lawrence F. Ziegler
Publisher:
ISBN:
Category : Business & Economics
Languages : en
Pages : 108
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Book Description
Author: Eduard Hochreiter
Publisher:
ISBN:
Category :
Languages : en
Pages : 37
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Book Description
In this paper selective issues of long-run sustainability of monetary unions are analyzed. Using theoretical insights and the experience of EMU up to now we argue that empirical evidence on OCA criteria for EMU suggests that benefits for the countries participating in EMU outweigh costs by a relatively large margin although by varying degrees from country to country. We also conclude that the Stability Pact is a sufficient but not a necessary condition for EMU to succeed and that EMU has been driven by political considerations. A sound financial sector is a precondition. With regard to lessons to be drawn for Latin America and the Caribbean we first find that there has been a strong push towards the floating cum inflation-targeting corner and to regional trade integration. Moreover, it seems that, in contrast to EMU, the benefit-cost balance of a move to monetary union is much less favorable in Latin America and the Caribbean and, most important, the political dimension missing.
Author: Daniel Garcia Rocabado
Publisher:
ISBN:
Category :
Languages : en
Pages :
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Book Description
Author: Dorte Verner
Publisher: World Bank Publications
ISBN: 9780821346204
Category : Political Science
Languages : en
Pages : 44
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Book Description
"Trade between the European Union (EU) and developing countries is importantaround 22 percent of the EU's exports go to developing countries, while 20 percent of the EU's imports originate in those countries. More specifically, trade between Latin America and the EU has ballooned in recent times..."What are the risks and opportunities facing the Latin American and Caribbean (LAC) region from the introduction of the euro? Will the replacement of the European currency basket by the euro have real economic effects, or will it be little more than an accounting phenomenon? This slim volume attempts to answer those questions. In doing so it covers the current economic situation, presents financial flow, discusses the value and volatility of the euro, and the financial implications of the euro, including the banking system and foreign debt and reserve management. Overall, the report gives a broad picture of the possible impact of the euro on the LAC region.
