Download or read book Currrency Areas Policy Domains and the Institutionalisation of Fixed Exchange Rates written by Peter B. Kenen and published by . This book was released on 2000 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Currency Areas Policy Domains and the Institutionalizaton of Fixed Exchange Rates written by Peter B. Kenen and published by . This book was released on 2000 with total page 46 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Politics of Exchange Rates in Developing Countries written by Ralph Setzer and published by Springer Science & Business Media. This book was released on 2006-09-21 with total page 265 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book considers the issue of exchange rate policymaking from a political economy perspective. It illustrates both theoretically and empirically how domestic political and institutional incentives shape exchange rate policies in developing countries. Empirical analysis is based on a panel survey of 47 countries and thereby provides insights on how political and institutional conditions typically affect exchange rate policy.
Download or read book Optimum Currency Areas and the European Experience written by Ronald McKinnon and published by . This book was released on 2004 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Across nations or regions, the debate on optimum exchange rate cum monetary policies is not yet resolved on three levels. First is the optimum domain of fixed exchange rates versus keeping them flexible. Second is the subordinate debate on whether one needs full monetary union (as in continental Europe) to secure an optimum currency area's internal domain; or, whether virtually fixed exchange rates - where national currencies remain in circulation - can be sufficient. Third is whether a regional grouping of economies with close trade ties (as in East Asia) gain by collectively pegging to an outside currency such as the US dollar. Using an axiomatic approach, which limits the set of cross-country financial claims to what is feasible, I analyse how best to both share and reduce macroeconomic risks on these three levels.
Download or read book Collected Works of Domenico Mario Nuti Volume II written by Saul Estrin and published by Springer Nature. This book was released on 2023-08-10 with total page 698 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book, the second of two volumes, brings together the work of Domenico Mario Nuti to highlight his significant and varied contribution to economics. Bringing together works from across Nuti’s career, his distinctive intellectual framework is exemplified in relation to discussions on the drivers of economic growth and development, the most efficient economic system, the organisation of firms, and how economies should be managed. This volume gives particular attention to Nuti’s views about how economic systems evolve, about the possibilities for various forms of economic democracy; and his analysis of East-West integration and globalization. The volume also contains a bibliography of his works.
Download or read book Governing the World s Money written by David M. Andrews and published by Cornell University Press. This book was released on 2018-10-18 with total page 244 pages. Available in PDF, EPUB and Kindle. Book excerpt: The effective governance of global money and finance is under enormous stress. Deep changes over the last decade in capital markets, exchange rate systems, and government finances suggest dramatic shifts in the contours of monetary power, with tensions rising between the functional logic of international economics and the geographic logic of state-centered politics. Governing the World's Money assesses those tensions and the prospects for their peaceful resolution. Governing the World's Money surveys the frontiers of the global monetary system in ten original essays. Leading scholars of international relations and economics explore the evolution of the instruments available to policy officials for monetary governance. As they analyze the contemporary reordering of political authority in a market-oriented global economy, they open new pathways for the study of regional monetary integration and international institutional reform.
Download or read book Currency Union and Exchange Rate Issues written by Ronald MacDonald and published by Edward Elgar Publishing. This book was released on 2010-01-01 with total page 209 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book written by leading academics and practitioners in the field brings together cutting edge research on exchange rate regime and monetary union issues. There is a particular focus on the implications for member states of the Gulf Cooperation Council (GCC) which is itself working towards forming a monetary union for the Gulf States. The relatively dramatic movements in the US dollar in the recent past, and also in the early 1990s, have called the practice of pegging to the US dollar into question for a group of countries that predominantly rely on hydrocarbons as their primary export. The book considers the key issues which must be addressed by the GCC in trying to form a monetary union for the Gulf countries and also the rigid pegging of member states currencies to the US dollar. The proposed monetary union raises clear issues in terms of the appropriateness of such a regime for these countries and whether, for example, the necessary institutional mechanisms are in place ahead of the proposed union. Currency Union and Exchange Rate Issues brings together the perspectives of a group of experts who focus on these important issues, and provide analysis of the policy options. Academics, policymakers and postgraduates in international finance will find much to consider and learn from in this informative book.
Download or read book Exchange Rate Regimes written by Atish R. Ghosh and published by MIT Press. This book was released on 2002 with total page 252 pages. Available in PDF, EPUB and Kindle. Book excerpt: An empirical study of exchange rate regimes based on data compiled from 150 member countries of the International Monetary Fund over the past thirty years. Few topics in international economics are as controversial as the choice of an exchange rate regime. Since the breakdown of the Bretton Woods system in the early 1970s, countries have adopted a wide variety of regimes, ranging from pure floats at one extreme to currency boards and dollarization at the other. While a vast theoretical literature explores the choice and consequences of exchange rate regimes, the abundance of possible effects makes it difficult to establish clear relationships between regimes and common macroeconomic policy targets such as inflation and growth. This book takes a systematic look at the evidence on macroeconomic performance under alternative exchange rate regimes, drawing on the experience of some 150 member countries of the International Monetary Fund over the past thirty years. Among other questions, it asks whether pegging the exchange rate leads to lower inflation, whether floating exchange rates are associated with faster output growth, and whether pegged regimes are particularly prone to currency and other crises. The book draws on history and theory to delineate the debate and on standard statistical methods to assess the empirical evidence, and includes a CD-ROM containing the data set used.
Download or read book Journal for studies in economics and econometrics written by and published by . This book was released on 2004 with total page 820 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Scotland Analysis written by Great Britain: H.M. Treasury and published by The Stationery Office. This book was released on 2013-04-23 with total page 124 pages. Available in PDF, EPUB and Kindle. Book excerpt: The UK Government is undertaking a major cross-government programme of analysis prior to the referendum on Scottish independence in 2014. The aim is to provide a comprehensive and detailed analysis of Scotland's place in the UK. This paper examines how Scotland might arrange its currency and wider macroeconomic framework. It reviews the current UK arrangements and examines the options for change. In the event of a vote for independence Scotland would have to establish its own institutional framework, and the current system of risk-sharing would end. An independent Scottish state would have four main currency options: continue to use sterling with a formal agreement with the continuing UK (a sterling currency union); use sterling unilaterally with no formal agreement ('sterlingisation'); join the euro; or introduce a new Scottish currency. This paper examines all these options and concludes that all of them would be less likely to be economically suitable for both Scotland and the rest of the UK.
Download or read book The Euroarea and the New EU Member States written by Lucio Vinhas De Souza and published by Springer. This book was released on 2003-11-19 with total page 261 pages. Available in PDF, EPUB and Kindle. Book excerpt: This collection analyses the monetary and exchange rate strategies of the EU accession countries during the EMU (pre-) accession phase and also policy questions that will appear upon Euroarea entry. Written by specialists in the field, it is a must-read for all economists with an interest in the rapidly evolving economies of the future EU member states.
Download or read book Cahiers conomiques de Bruxelles written by and published by . This book was released on 2003 with total page 294 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Political Economy of Monetary Solidarity written by Waltraud Schelkle and published by Oxford University Press. This book was released on 2017-04-13 with total page 334 pages. Available in PDF, EPUB and Kindle. Book excerpt: Creating the European monetary union between diverse and unequal nation states is arguably one of the biggest social experiments in history. This book offers an explanation of how the euro experiment came about and was sustained despite a severe crisis, and provides a comparison with the monetary-financial history of the US. The euro experiment can be understood as risk-sharing through a currency that is issued by a supranational central bank. A single currency shares liquidity risks by creating larger markets for all financial assets. A single monetary policy responds to business cycles in the currency area as a whole rather than managing the path of one dominant economy. Mechanisms of risk-sharing become institutions of monetary solidarity if they are consciously maintained, but they will periodically face opposition in member states. This book argues that diversity of membership is not an economic obstacle to the success of the euro, as diversity increases the potential gains from risk sharing. But political cooperation is needed to realize this potential, and such cooperation is up against collective action problems which become more intractable as the parties become more diverse. Hence, risk-sharing usually comes about as a collective by-product of national incentives. This political-economic tension can explain why the gains from risk-sharing are not more fully exploited, both in the euro area and in the US dollar area. This approach to monetary integration is based on the theory of collective action when hierarchy is not available as a solution to inter-state cooperation. The theory originates with Keohane and Ostrom (1995) and it is applied in this book, taking into account the latest research on the inherent instability of financial market integration.
Download or read book Economic Globalization and Asia written by Ramkishen S. Rajan and published by World Scientific. This book was released on 2003 with total page 270 pages. Available in PDF, EPUB and Kindle. Book excerpt: The term ?economic globalization? has been discussed extensively in the popular press, by business executives and by policy-makers all over the world. While academic economists have made some excellent contributions to specific, technical aspects of economic globalization, there appears to be a need for economists to discuss the broader aspects of the issue in a more accessible manner. Failing this, the general debate will be informed only by the writings of non-economists.That is the motivation for this book, which is a collection of essays on various aspects of economic globalization in general, but with specific reference to Asia.
Download or read book Financial Governance in East Asia written by Gordon De Brouwer and published by Routledge. This book was released on 2004-08-02 with total page 329 pages. Available in PDF, EPUB and Kindle. Book excerpt: The focus of international financial reform in recent years has largely been at the global level, in terms of improving the international financial architecture, and at the national level in terms of getting domestic economic and structural policies right. But there is also a growing appetite for addressing some issues at a regional level. This debate has focused on improving regional policy dialogue and surveillance processes, as well as developing regional mechanisms to provide financial support to prevent and resolve financial crises. In East Asia, for example, governments have sought deeper regional policy dialogue by the creation of ASEAN+3 forum and enhanced financial cooperation by setting up the Chiang Mai Initiative. These developments raise many questions: What is 'best-practice' regional policy dialogue? How is a regional financial architecture complementary to the global architecture? What sorts of institutions work well at a regional level? Do regions need a regional monetary fund? What is going on in East Asia and how is it different to other regions? This volume brings together a range of policy, practical and conceptual papers to explore these and other issues.
Download or read book European Variations as a Key to Cooperation written by Ernst Hirsch Ballin and published by Springer Nature. This book was released on 2020-01-02 with total page 192 pages. Available in PDF, EPUB and Kindle. Book excerpt: This Open Access book offers a novel view on the benefits of a lasting variation between the member states in the EU. In order to bring together thirty very different European states and their citizens, the EU will have to offer more scope for variation. Unlike the existing differentiation by means of opt-outs and deviations, variation is not a concession intended to resolve impasses in negotiations; it is, rather, a different structuring principle. It takes differences in needs and in democratically supported convictions seriously. A common core remains necessary, specifically concerning the basic principles of democracy, rule of law, fundamental rights and freedoms, and the common market. By taking this approach, the authors remove the pressure to embrace uniformity from the debate about the EU’s future. The book discusses forms of variation that fall both within and outside the current framework of European Union Treaties. The scope for these variations is mapped out in three domains: the internal market; the euro; and asylum, migration and border control.
Download or read book Roadmap to an ASEAN Economic Community written by Denis Hew Wei-Yen and published by Institute of Southeast Asian Studies. This book was released on 2005 with total page 339 pages. Available in PDF, EPUB and Kindle. Book excerpt: At the Ninth ASEAN Summit in Bali on 7 October 2003, the leaders of the Association of Southeast Asian Nations agreed to establish an ASEAN Economic Community (AEC) by 2020. It is envisaged that the AEC would be a single market and production base, with a free flow of goods and services, investments, capital and skilled labour. An integrated ASEAN with a sizeable market of over 500 million people could become an alternative to China as a regional production base for MNCs. Although there are roadmaps for the fast-track integration of eleven priority sectors, an overall longer-term roadmap needs to be formulated to realize the AEC. This book addresses the main issues.
