Download or read book Monetary Union in South America written by Philip Arestis and published by Edward Elgar Publishing. This book was released on 2003 with total page 208 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Download or read book European Monetary Union written by Alfred Apholte and published by . This book was released on 1998 with total page 72 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book On the Prospects for Monetary Union in Latin America written by Soma Mukherjee and published by . This book was released on 2002 with total page 136 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Regional Integration in Europe and Latin America written by Pierre van der Haegen and published by Taylor & Francis. This book was released on 2019-10-28 with total page 536 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Download or read book Monetary Union written by Eduard Hochreiter and published by . This book was released on 2017 with total page 37 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Download or read book The Road to Monetary Union in Latin America written by Daniel Garcia Rocabado and published by . This book was released on 2010 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Impact of the Euro on Latin America written by Dorte Verner and published by World Bank Publications. This book was released on 2000-01-01 with total page 44 pages. Available in PDF, EPUB and Kindle. Book excerpt: "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.
Download or read book Monetary Accommodation of Regional Integration in Latin America written by Lawrence F. Ziegler and published by . This book was released on 1971 with total page 108 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book European Economic and Monetary Union written by and published by . This book was released on with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Regional Monetary Integration written by Peter B. Kenen and published by Cambridge University Press. This book was released on 2007-11-26 with total page 199 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Download or read book European Economic and Monetary Union written by Instituto de Relaciones Europeo-Latinoamericanas and published by . This book was released on 1997 with total page 34 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Regional Integration in Europe and Latin America written by Pierre van der Haegen and published by Routledge. This book was released on 2020-10-15 with total page 536 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Download or read book Regional Integration in Europe and Latin America written by Pierre Louis Haegen and published by Ashgate Publishing, Ltd.. This book was released on 2003 with total page 544 pages. Available in PDF, EPUB and Kindle. Book excerpt: This comprehensive collection comprising 28 contributors provides an innovative comparison between economic and financial integration in Europe and Latin America. It is a valuable overview focusing on three topics: regional integration and monetary co-operation in Europe and Latin America, exchange rate strategies and financial sector structure.
Download or read book Monetary Unions and Hard Pegs written by George M. von Furstenberg and published by Oxford University Press, USA. This book was released on 2004-03-25 with total page 399 pages. Available in PDF, EPUB and Kindle. Book excerpt: Financial services with global reach are becoming ever more important in the conduct and organization of the trade and investment of nations, and currencies that lack international standing lose out in this business. The result of financial development has been destabilizing currency and portfolio substitution -- in favour of international currencies and against local ones.This book analyses formal approaches to overcoming monetary divisions within countries and within integrating regions, focusing on the consequences of monetary union for trade among union members and their financial development and stability. The authors discuss hard pegs such as those attempted by the currency board of Argentina, outright dollarization, such as in Ecuador, and multilateral monetary union, as in Europe, the least reversible form of monetary union and the most powerful elixir offinancial integration and trade.The political classes and central banks in most countries have been reluctant to admit the market- and technology-driven forces of currency consolidation, much less yield to them. International financial institutions too are still in the habit of proffering advice about national monetary and exchange-rate policies on the assumption that getting rid of both is not even an option. Emerging-market countries, in particular, have to choose between retaining what independent monetary means they stillhave -- and can safely use in the presence of widespread liability dollarization and currency mismatches -- and formally replacing the domestic with an international currency to reduce exposure to debilitating financial crises. In concrete investigations of this choice, this volume shows thatmonetary union deserves a much more sympathetic hearing.
Download or read book Business Cycles Trade and the Costs of Monetary Unions written by Carlos Eduardo Soares Gonçalves and published by . This book was released on 2004 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper investigates the relationship between bilateral trade and the business cycles for a sample of ten Latin American countries. It is shown that countries displaying high volumes of bilateral trade also present more correlated economic cycles. It follows that even if a monetary union is considered ex ante undesirable due to the need of tayloring monetary responses in a very idiosyncratic fashion, it may nevertheless prove optimal ex post when GDPs syncronization become higher.
Download or read book Monetary Unions External Shocks and Economic Performance written by Sebastian Edwards and published by . This book was released on 2022 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: During the last few years there has been a renewed analysis in currency unions as a form of monetary arrangement. This new interest has been largely triggered by the Euro experience. Scholars and policy makers have asked about the optimal number of currencies in the world economy. They have analyzed whether different countries satisfy the traditional “optimal currency area” criteria. These include: (a) the synchronization of the business cycle; (b) the degree of factor mobility; and (c) the extent of trade and financial integration. In this paper I analyze the desirability of a monetary union from a Latin American perspective. First, I review the existing literature on the subject. Second, I use a large data set to analyze the evidence on economic performance in currency union countries. I investigate these countries' performance on four dimensions: (a) whether countries without a national currency have a lower occurrence of “sudden stop” episodes; (b) whether they have a lower occurrence of “current account reversal” episodes; (c) what is their ability to absorb international terms of trade shocks; and (d) what is their ability to absorb “sudden stops” and “current account reversals” shocks. I find that belonging to a currency union does not lower the probability of facing a sudden stop or a current account reversal. I also find that external shocks are amplified in currency union countries. The degree of amplification is particularly large when compared to flexible exchange rate countries.
Download or read book Euro and the Financial Relations Between Latin America and Europe written by Luis Miotti and published by United Nations Publications. This book was released on 2002 with total page 80 pages. Available in PDF, EPUB and Kindle. Book excerpt: Although Latin America's indisputable reference currency is the U.S. dollar, many of the countries in the region have economic ties with European countries. The creation and introduction of the euro in 1999 marked the beginning of a new era in international monetary and financial relations, although it is still difficult to draw any definitive conclusions regarding its scope and its implications for Latin America. This study evaluates the internationalisation of the euro and its likely effects on the international monetary system, as well as on the development of relations between Europe and Latin America, including trade and financial flows.
