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Monetary Integration And Dollarization |
Edited by Matías Vernengo, Assistant Professor, University of Utah, US
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‘This book brings together an impressive and diverse group of authors to discuss its central theme: whether or not the dollarized international monetary system is sustainable in the context of the global economy it helped create. In addition to its uniquely well-rounded and comprehensive coverage of the issues, this lively and highly readable volume provides an accurate assessment of the lack of consensus in the current debate. A “must read” for anyone interested in currency crises and the increasing vulnerability of the dollar.’
– Jane D’Arista, Director of Progams, Financial Markets Center, US
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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Contents: Foreword by Luiz Carlos Bresser-Pereira Monetary Arrangements in a Globalizing World: An Introduction by Matías Vernengo Part I: European Monetary Union Part II: Dollarization in North America? Part III: Emerging Markets and the Financial Architecture Part IV: Final Reflections Index
Contributors: P. Arestis, R.G. Bodkin, L.C. Bresser-Pereira, A.F. Câmara Neto, P. Davidson, B. Eichengreen, S. Griffith-Jones, W.C. Gruben, K.P. Jameson, J. Koo, C. Medeiros, A. Parguez, J.-F. Ponsot, S. Pozo, M. Sawyer, M. Seccareccia, F. Serrano, R. Studart, M. Vernengo
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Table of Contents
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