Integrating Uneven Partners: the Destabilizing Effects of Financial Liberalization and Internationalization of Latin American Economies
This book deals with the economic consequences of monetary integration, which has long been dominated by the Optimal Currency Area (OCA) paradigm. In this model, money is perceived as having developed from a private sector cost minimization process to facilitate transactions. Not surprisingly, the book argues, the main advantage of monetary integration in the OCA context is the reduction of transaction costs, yet the validity of OCA to analyze processes of monetary integration seems to be limited at best.
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|Date of creation:||2001|
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|Order Information:|| Postal: Secretaria da ANPEC Rua Prof Marcos Valdemar de Freitas Reis s/n Campus do Gragoatá Bloco F Niterói, RJ 24210-201 Brazil|
References listed on IDEAS
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- Hyman P. Minsky, 1992. "The Financial Instability Hypothesis," Economics Working Paper Archive wp_74, Levy Economics Institute.
- Beck, Thorsten & Demirguc-Kunt, Asli & Levine, Ross & Maksimovic, Vojislav, 2000. "Financial structure and economic development - firm, industry, and country evidence," Policy Research Working Paper Series 2423, The World Bank.
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- Ross Levine, 1990.
"Financial structure and economic development,"
International Finance Discussion Papers
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- Stallings, Barbara & Studart, Rogério, 2001. "Financial regulation and supervision in emerging markets: the experience of Latin America since the Tequila crisis," Macroeconomía del Desarrollo 9, Naciones Unidas Comisión Económica para América Latina y el Caribe (CEPAL).
- Franklin R. Edwards, 1993. "Financial markets in transition; or, the decline of commercial banking," Proceedings - Economic Policy Symposium - Jackson Hole, Federal Reserve Bank of Kansas City, pages 5-69.
- Alberto Alesina & Robert J. Barro, 2001. "Dollarization," American Economic Review, American Economic Association, vol. 91(2), pages 381-385, May.
- Lance Taylor & Stephen A. O'Connell, 1985. "A Minsky Crisis," The Quarterly Journal of Economics, Oxford University Press, vol. 100(Supplemen), pages 871-885.
- Edwards, F.R., 1993. "Financial Markets in Transition -- or the Decline of Commercial Banking," Papers 93-06, Columbia - Graduate School of Business.
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