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Regional Integration and the Issue of Choosing an Appropriate Exchange Rate Regime in Latin America

In: Regional Currency Areas in Financial Globalization

Author

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  • Hubert Escaith
  • Christian Ghymers
  • Rogerio Studart

Abstract

This book is an up-to-date, authoritative and comprehensive analysis of the key issues and challenges facing regional currency area projects in the context of financial globalization. The authors focus on several central issues that emerged during the experiences of the 1990s and 2000s: exchange rate regimes and optimal currency area theory; exchange rate regimes in emerging countries, international capital markets and regional currency areas; EMU and the euro; exchange rate regimes in Central and Eastern Europe, Asia and Latin America; dollarization and the coordination of macroeconomic policies in the presence of regional currency areas.

Suggested Citation

  • Hubert Escaith & Christian Ghymers & Rogerio Studart, 2005. "Regional Integration and the Issue of Choosing an Appropriate Exchange Rate Regime in Latin America," Chapters, in: Patrick Artus & André Cartapanis & Florence Legros (ed.), Regional Currency Areas in Financial Globalization, chapter 8, Edward Elgar Publishing.
    • Handle: RePEc:elg:eechap:3347_8
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    References listed on IDEAS

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    1. Frankel, Jeffrey A & Rose, Andrew K, 1998. "The Endogeneity of the Optimum Currency Area Criteria," Economic Journal, Royal Economic Society, vol. 108(449), pages 1009-1025, July.
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    3. Rogerio Studart, 2003. "Financial opening, instability and macroeconomic peformance in Latin America during the 1990s: some possible perverse links," Chapters, in: Philip Arestis & Luiz Fernando de Paula (ed.), Monetary Union in South America, chapter 7, Edward Elgar Publishing.
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    5. -, 2002. "Economic Survey of Latin America and the Caribbean 2001-2002," Estudio Económico de América Latina y el Caribe, Naciones Unidas Comisión Económica para América Latina y el Caribe (CEPAL), number 37628 edited by Eclac.
    6. Sebastian Edwards, 2001. "Dollarization and Economic Performance: An Empirical Investigation," NBER Working Papers 8274, National Bureau of Economic Research, Inc.
    7. Ffrench-Davis, Ricardo, 1999. "Macroeconomía, comercio y finanzas para reformar las reformas en América Latina," Copublicaciones, Naciones Unidas Comisión Económica para América Latina y el Caribe (CEPAL), number 2070 edited by McGraw-Hill Interamericana.
    8. Benavente Escartin, José Miguel, 2001. "Exportaciones de manufacturas de América Latina: ¿desarme unilateral o integración regional?," Macroeconomía del Desarrollo 5394, Naciones Unidas Comisión Económica para América Latina y el Caribe (CEPAL).
    9. Ocampo, José Antonio, 1999. "Reforming the international financial architecture: consensus and divergence," Series Históricas 7459, Naciones Unidas Comisión Económica para América Latina y el Caribe (CEPAL).
    10. -, 1999. "Towards a new international financial architecture: report of the Task Force of the Executive Committee on Economic and Social Affairs of the United Nations, 21 January 1999 = Hacia una nueva arquitec," Libros y Documentos Institucionales, Naciones Unidas Comisión Económica para América Latina y el Caribe (CEPAL), number 3216 edited by Cepal.
    11. Miotti, Luis Egidio & Plihon, Dominique & Quenan, Carlos, 2002. "Euro and the financial relations between Latin America and Europe: medium- and long-term implications," Macroeconomía del Desarrollo 5354, Naciones Unidas Comisión Económica para América Latina y el Caribe (CEPAL).
    12. Ghymers, Christian, 2001. "Macroeconomics and regional integration: EMU and the stability programmes," Sede de la CEPAL en Santiago (Estudios e Investigaciones) 34822, Naciones Unidas Comisión Económica para América Latina y el Caribe (CEPAL).
    13. Andrés VELASCO, 2000. "Exchange-Rate Policies For Developing Countries: What Have We Learned? What Do We Still Not Know?," G-24 Discussion Papers 5, United Nations Conference on Trade and Development.
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    Cited by:

    1. Escaith, Hubert, 2003. "Modeling regional macroeconomic interactions: situation and perspectives for macroeconomic coordination in Latin America. Background paper prepared for the REDIMA workshop on Modeling Macroeconomic Co," Documentos de Proyectos 3754, Naciones Unidas Comisión Económica para América Latina y el Caribe (CEPAL).
    2. Hochreiter, Eduard & Schmidt-Hebbel, Klaus & Winckler, Georg, 2002. "Monetary union: European lessons, Latin American prospects," The North American Journal of Economics and Finance, Elsevier, vol. 13(3), pages 297-321, December.
    3. Solimano, Andrés, 2006. "Asset accumulation by the middle class and the poor in Latin America: political economy and governance dimensions," Macroeconomía del Desarrollo 5422, Naciones Unidas Comisión Económica para América Latina y el Caribe (CEPAL).
    4. Watts, Nathalie & Solimano, Andrés, 2005. "International migration, capital flows and the global economy: a long run view," Macroeconomía del Desarrollo 5400, Naciones Unidas Comisión Económica para América Latina y el Caribe (CEPAL).
    5. Christian Volpe Martincus & Andrea Molinari, 2007. "Regional Business Cycles and National Economic Borders: What Are the Effects of Trade in Developing Countries?," Review of World Economics (Weltwirtschaftliches Archiv), Springer;Institut für Weltwirtschaft (Kiel Institute for the World Economy), vol. 143(1), pages 140-178, April.
    6. Ghymers, Christian, 2005. "Fostering economic policy coordination in Latin America: the REDIMA approach to escaping the prisoner's dilemma," Libros de la CEPAL, Naciones Unidas Comisión Económica para América Latina y el Caribe (CEPAL), number 2417 edited by Eclac, May.
    7. Gutiérrez, Mario A. & Solimano, Andrés, 2006. "Savings, investment and growth in the global age: analytical and policy issues," Macroeconomía del Desarrollo 5419, Naciones Unidas Comisión Económica para América Latina y el Caribe (CEPAL).
    8. Escaith, Hubert & Paunovic, Igor, 2003. "Regional integration in Latin America and dynamic gains from macroeconomic cooperation," Macroeconomía del Desarrollo 5388, Naciones Unidas Comisión Económica para América Latina y el Caribe (CEPAL).
    9. Solimano, Andrés & Soto, Raimundo, 2005. "Economic growth in Latin America in the late 20th century: evidence and interpretation," Macroeconomía del Desarrollo 5398, Naciones Unidas Comisión Económica para América Latina y el Caribe (CEPAL).
    10. Solimano, Andrés, 2006. "The international mobility of talent and its impact on global development: an overview," Macroeconomía del Desarrollo 5418, Naciones Unidas Comisión Económica para América Latina y el Caribe (CEPAL).
    11. Solimano, Andrés, 2004. "Political violence and economic development in Latin America: issues and evidence," Macroeconomía del Desarrollo 5395, Naciones Unidas Comisión Económica para América Latina y el Caribe (CEPAL).

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