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Author: Bank for International Settlements. Monetary and Economic Department
Publisher:
ISBN: 9789291976553
Category : Currency boards
Languages : en
Pages : 155
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Book Description
Author: Bank for International Settlements. Monetary and Economic Department
Publisher:
ISBN: 9789291976553
Category : Currency boards
Languages : en
Pages : 155
Get Book Here
Book Description
Author: [Anonymus AC03861222]
Publisher:
ISBN: 9789291316489
Category : Currency boards
Languages : en
Pages : 155
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Book Description
Author: Bank for International Settlements
Publisher:
ISBN:
Category :
Languages : en
Pages : 161
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Book Description
Arrangements that replace independent national currencies (regional currency areas, currency boards, official or unofficial use of a foreign currency) have become increasingly popular. However, they raise at least three broad questions. First, do their benefits (notably lower transactions costs) exceed the costs (reduced policy flexibility)? Second, which of these regimes is most suitable for a particular economy? Third, must institutions be developed to ensure economic convergence and other complementary measures that will guarantee the success of a common currency, or are convergence and complementary measures a likely consequence of adopting a common currency? Senior central bankers from Africa, Asia, Europe, the Middle East and the United States discussed experiences and research on these questions at a two-day meeting held at the BIS in September 2002. The first day focused on economic issues and the second on legal and practical issues.
Author: Margrit Kennedy
Publisher: Triarchy Press
ISBN: 1908009829
Category : Business & Economics
Languages : en
Pages : 258
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Book Description
A comprehensive guide to the principles and practice of regional currencies. It shows how regional currencies can transform the lives and well-being of local communities, how they can sustain businesses, how local authorities can participate in their success and, consequently, why supporting regional currencies is of vital importance to the future of your community, region or country.
Author: Emily Gilbert
Publisher: Routledge
ISBN: 1134658176
Category : Business & Economics
Languages : en
Pages : 253
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Book Description
National currencies appear to be threatened from all sides. European Union member countries are due to abandon their national currencies in favour of a supranational currency by the year 2000. Elsewhere, the use of foreign currencies within national economic spaces is on the increase, as shown by the growth of eurocurrency activity, and currency su
Author: Mr.Tamim Bayoumi
Publisher: International Monetary Fund
ISBN: 1451846177
Category : Business & Economics
Languages : en
Pages : 22
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Book Description
A model of optimum currency areas is presented using a general equilibrium model with regionally differentiated goods. The choice of a currency union depends upon the size of the underlying disturbances, the correlation between these disturbances, the costs of transactions across currencies, factor mobility across regions, and the interrelationships between demand for different goods. It is found that, while a currency union can raise the welfare of the regions within the union, it unambiguously lowers welfare for those outside the union.
Author: Martina Metzger
Publisher: Springer
ISBN: 023050244X
Category : Business & Economics
Languages : en
Pages : 248
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Book Description
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: Mr.Mauro Mecagni
Publisher: International Monetary Fund
ISBN: 1498368476
Category : Business & Economics
Languages : en
Pages : 75
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Book Description
Dollarization—the use of foreign currencies as a medium of exchange, store of value, or unit of account—is a notable feature of financial development under macroeconomically fragile conditions. It has emerged as a key factor explaining vulnerabilities and currency crises, which have long been observed in Latin America, parts of Asia, and Eastern Europe. Dollarization is also present, prominently, in sub-Saharan Africa (SSA) where it remains significant and persistent at over 30 percent rates for both bank loans and deposits—although it has not increased significantly since 2001. However, progress in reducing dollarization has lagged behind other regions and, in this regard, it is legitimate to ask whether this phenomenon is an important concern in SSA. This study fills a gap in the literature by analyzing these issues with specific reference to the SSA region on the basis of the evidence for the past decade.
Author: Dan Galai
Publisher: International Monetary Fund
ISBN: 1451872577
Category : Business & Economics
Languages : en
Pages : 22
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Book Description
The paper shows how-in a Merton-type model with bankruptcy-the currency composition of debt changes the risk profile of a company raising a given amount of financing, and thus affects the cost of debt. Foreign currency borrowing is cheaper when the exchange rate is positively correlated with the return on the company's assets, even if the company is not an exporter. Prudential regulations should therefore differentiate among loans depending on the extent to which borrowers have "natural hedges" of their foreign currency exposures.
Author: Abdurrahman Arum Rahman
Publisher: Global Currency Initiative
ISBN:
Category : Business & Economics
Languages : en
Pages : 478
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Book Description
The US Dollar and the Euro are not real international currencies, but the currencies of certain countries (US) and region (Eurozone) that are "adopted" to become international currencies. This causes our global monetary and financial system to be asymmetrical. Some countries print money while others buy them. Consequently, the US and the Euro Area can buy anything from all countries in the world just by printing money from paper. They buy gold with paper. While all other countries are the opposite; they sell anything to get “paper money”. They buy paper with gold. This asymmetrical global monetary and financial system creates a very expensive cost to the world economy; exchange rate costs and fluctuations that reach hundreds of billions of dollars every year; cumulative foreign exchange reserves worth a dozen of trillions of dollars; two-thirds of countries in the world are trapped in foreign debt that cannot be paid; mass-and-cold trade wars involving all countries in the world and lasting for decades gave birth to the phenomenon of "race to the bottom" and made most developing countries trapped in the middle income (MIT); persistent global imbalances that continue to grow and become a fertile ground for monetary crisis that occurs periodically throughout the world. The Global Currency Initiative pioneered a global monetary model that is fully symmetrical and at the same time democratic. The model name is “organic global monetary” (OGM). OGM is an international currency system developed jointly by all countries in the world, or member countries and is part of their respective national currencies. Organic currency is only used for international transactions between member countries; while domestic transactions continue to use the national currency. The relationship between international currency and nationals is organic (part of) and hybrid (interconvertible). The exchange rate between organic and national currencies uses an auto-balancing so that it follows the true economic fundamentals. The organic model is an international monetary system that is natural, elegant, and very comprehensive, provides international currencies “free of charge” to all member countries, does not require foreign exchange reserves, eliminates exchange rate cost and fluctuations, makes “zero-depreciated” international currencies, eliminates foreign debt dependence, abolishing trade wars at all levels, releases countries from the middle-income trap (MIT); eliminates global imbalances, and roots out the potentials for monetary crisis. The organic model uses a fully flexible exchange rate system; therefore, it doesn't require economic integration. Thus, all countries in the world may join, without overhauling the monetary system, without losing the national currency and monetary-economic sovereignty. The organic model can also start on a small scale like the ASEAN region, South Asian, East Asian, Middle East, Latin America, East Africa, West, and Central, and many others. It may also start in several connected-regions or multi-regions. Once formed, the organic union may open to all countries in the world regardless of regional differences, income levels, economic systems, and others. All countries may join without exception. Since then, the world has a fully democratic and symmetrical alternative monetary system. Each country in the world is free to choose whether to join the organic monetary system or stay with the current system. Because the essence of democracy is to provide choices. This book is the second edition with some improvement from the first edition entitled "Global Currency Initiative". In this edition, we enhance the theory and academic. While on the other hand we still use a very simple language so that it is easily understandable by the general public; because the global currency is a common interest that everyone needs to know.
