Central banking in a regional economic setting: Possible contributions to integration
AbstractCentral banks can play an important role in facilitating and promoting regional economic and monetary integration. Examples are the European monetary union and a more recent initiative by a group of Asian central banks to boost liquidity in local bond markets in Asia through the “Asian Bond Fund 2”. This paper highlights the role of central banks in these efforts and points to issues that could be of relevance for the ongoing integration process in the Caribbean. It argues that the creation of a single currency area was based on a lengthy process, that economic integration came before monetary union, and that it required a strong degree of political determination; furthermore, integration is also assisted by the building of institutions and ongoing cooperation and dialogue among relevant authorities.
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Bibliographic InfoPaper provided by University Library of Munich, Germany in its series MPRA Paper with number 47416.
Date of creation: May 2007
Date of revision:
Caribbean; integration; Asian Bond Fund; currency area; CARICOM; European Monetary Union; institutions;
Find related papers by JEL classification:
- E42 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Monetary Sytsems; Standards; Regimes; Government and the Monetary System
- E58 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Central Banks and Their Policies
- F02 - International Economics - - General - - - International Economic Order; Noneconomic International Organizations;; Economic Integration and Globalization: General
- F15 - International Economics - - Trade - - - Economic Integration
- F33 - International Economics - - International Finance - - - International Monetary Arrangements and Institutions
- N16 - Economic History - - Macroeconomics and Monetary Economics; Industrial Structure; Growth; Fluctuations - - - Latin America; Caribbean
- N25 - Economic History - - Financial Markets and Institutions - - - Asia including Middle East
- N26 - Economic History - - Financial Markets and Institutions - - - Latin America; Caribbean
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Toniolo,Gianni Assisted by-Name:Clement,Piet, 2005.
"Central Bank Cooperation at the Bank for International Settlements, 1930–1973,"
Cambridge Books, Cambridge University Press,
Cambridge University Press, number 9780521845519.
- Toniolo,Gianni Assisted by-Name:Clement,Piet, 2007. "Central Bank Cooperation at the Bank for International Settlements, 1930–1973," Cambridge Books, Cambridge University Press, Cambridge University Press, number 9780521043700.
- Shelton Nicholls & Anthony Birchwood & Philip Colthrust & Earl Boodoo, 2000. "The State of and Prospects for the Deepening and Widening of Caribbean Integration," The World Economy, Wiley Blackwell, Wiley Blackwell, vol. 23(9), pages 1161-1194, 09.
- Heinrich, Gregor, 2006. "International Initiatives towards legal harmonisation in the field of Funds transfers, payments and payment systems - Annotated Bibliography," MPRA Paper 47419, University Library of Munich, Germany.
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