Edited by Matías Vernengo
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.
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- Monetary Integration and Dollarization No Panacea
- Monetary Arrangements in a Globalizing World: An Introduction
- Chapter 1: Reflections on the Experience of the Euro: Lessons for the Americas
- Chapter 2: European Experiences of Currency Boards: Estonia, Lithuania, Bulgaria and Bosnia and Herzegovina
- Chapter 3: The Lessons of the European Monetary Union
- Chapter 4: Does NAFTA Move North America Towards a Common Currency Area?
- Chapter 5: Dollarization and Illegal Immigration: Implications for NAFTA
- Chapter 6: Is the Canadian Dollar Destined to Disappear? A Critical Perspective
- Chapter 7: Float, Fix or Joint? The Options for Canadian Foreign Exchange Policy
- Chapter 8: Can Emerging Markets Float? Should They Inflation Target?
- Chapter 9: Integrating Uneven Partners: The Destabilizing Effects of Financial Liberalization and Internationalization of Latin American Economics
- Chapter 10: Exchange Rate Regimes and the Need for Elements for a New International Financial Architecture
- Chapter 11: Capital Flows to Emerging Markets under the Flexible Dollar Standard: A Critical View Based on the Brazilian Experience
- Chapter 12: From Capital Controls to Dollarization: American Hegemony and the US Dollar
- Chapter 13: A Framework for Analysing Dollarization
- Chapter 14: Dollarization in Latin America: 2004 and Beyond
- Chapter 15: Monetary Integration and Dollarization: What Are the Lessons?
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