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On the Links Between Monetary and Political Integration

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Author Info
Barry Eichengreen (Professor of Economics and Political Science, UC Berkeley)

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Abstract

The connection between monetary integration and political integration is probably the most contentious aspect of the Maastricht process. In this paper I suggest that relationship between monetary and political integration is contingent; under only slightly different initial conditions, these two dimensions of the integration process can evolve in very different ways. Specifically, whether monetary and political integration develop hand in hand or the first progresses without significant movement toward the second will depend on the accompanying fiscal constitution.

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Publisher Info
Paper provided by Center for International and Development Economics Research, Institute for Business and Economic Research, UC Berkeley in its series Center for International and Development Economics Research, Working Paper Series with number 1037.

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Date of creation: 06 Dec 1996
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Handle: RePEc:cdl:ciders:1037

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Related research
Keywords: Monetary integration; international economics; EMU;

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  1. Buiter, Willem H, 1999. "The EMU and the NAMU: What is the Case for North American Monetary Union?," CEPR Discussion Papers 2181, C.E.P.R. Discussion Papers. [Downloadable!] (restricted)
    Other versions:
  2. Willem Buiter, 2008. "Economic, Political, and Institutional Prerequisites for Monetary Union Among the Members of the Gulf Cooperation Council," Open Economies Review, Springer, vol. 19(5), pages 579-612, November. [Downloadable!] (restricted)
    Other versions:
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This page was last updated on 2009-11-26.

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