IDEAS home Printed from https://ideas.repec.org/a/pal/gpprii/v27y2002i1p5-28.html
   My bibliography  Save this article

One Region, One Money: Implications of Regional Currency Consolidation for Financial Services*

Author

Listed:
  • George M von Furstenberg

    (Robert Bendheim Chair in Economic and Financial Policy, Graduate School of Business Administration, Fordham University, 113 W 60 St, New York, NY 10023-7484, USA)

Abstract

The lecture explores causes and consequences of the declining usefulness of the separate currency denominations maintained by that large number of small open economies whose currencies play little or no role in international finance. So far, official multinational entities capable of taking up new threats to international financial stability, like the Group of Seven (G7), the G10 Finance Ministers and Central Bank Governors, the International Monetary and Financial Committee (IMFC) comprising 24 IMF Governors, and the Financial Stability Forum (FSF), have given little visible attention to these market-driven tendencies toward currency consolidation. As a result, there is scant official guidance on what to do about these tendencies so as to contribute to greater international financial stability in a multilateral framework. More such attention is overdue because the intermediate stages of currency competition in an emerging-market country in which there is more than one monetary standard in domestic use carry high risks to the stability of that country and its financial sector. The Geneva Papers on Risk and Insurance (2002) 27, 5–28. doi:10.1111/1468-0440.00149

Suggested Citation

  • George M von Furstenberg, 2002. "One Region, One Money: Implications of Regional Currency Consolidation for Financial Services*," The Geneva Papers on Risk and Insurance - Issues and Practice, Palgrave Macmillan;The Geneva Association, vol. 27(1), pages 5-28, January.
    • Handle: RePEc:pal:gpprii:v:27:y:2002:i:1:p:5-28
    as

    Download full text from publisher

    File URL: http://www.palgrave-journals.com/gpp/journal/v27/n1/pdf/2500149a.pdf
    File Function: Link to full text PDF
    Download Restriction: Access to full text is restricted to subscribers.
    File URL: http://www.palgrave-journals.com/gpp/journal/v27/n1/full/2500149a.html
    File Function: Link to full text HTML
    Download Restriction: Access to full text is restricted to subscribers.
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:pal:gpprii:v:27:y:2002:i:1:p:5-28. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Sonal Shukla or Springer Nature Abstracting and Indexing (email available below). General contact details of provider: http://www.palgrave-journals.com/ .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.