Commercial and Monetary Integration Processes: Are They Complementary?
AbstractTraditional economic integration theory states that the formation of and economic union will effect both the member and non-member countries. This paper adds to traditional theory on economic integration by studying how non-member countries carry out their monetary policy in order tp counter those effects. Furthermore we prove that the formation of a customs union may increase monetary integration among non-members. Specifically it can be said that the greater the economic integration among countries the greater their incentives to currency zones. Therefore both, commercial and monetary integration processes may be considered as complementary.
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Bibliographic InfoArticle provided by Center for Economic Integration, Sejong University in its journal Journal of Economic Integration.
Volume (Year): 12 (1997)
Issue (Month): ()
Commercial; Monetary Integration Processes;
Find related papers by JEL classification:
- E50 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - General
- F02 - International Economics - - General - - - International Economic Order; Noneconomic International Organizations;; Economic Integration and Globalization: General
- F15 - International Economics - - Trade - - - Economic Integration
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