Lessons of the Euro for the Rest of the World
AbstractEuropeâ€™s single currency is widely invoked as a potential solution to the monetary and exchange rate problems of other regions, including Asia, Latin America, North America and even Africa. This lecture asks whether the Europeâ€™s experience in creating the euro is exportable. It argues that the single currency is the result of a larger integrationist project that has political as well as economic dimensions. The appetite for political integration being less in other parts of the world, the euro will not be easily emulated. Other regions will have to find different means of addressing the tension between domestic monetary autonomy and regional integration. Harmonized inflation targeting may be the best available solution.
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Bibliographic InfoPaper provided by Institute of European Studies, UC Berkeley in its series Institute of European Studies, Working Paper Series with number qt16g425jb.
Date of creation: 01 Dec 2002
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comparative; economy; euro; finance; Institute of European studies; international; PEIF;
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