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How could the Bank of the South promote sustainable development and regional monetary integration in Latin America ?

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  • Jean-François Ponsot

    () (LEPII - Laboratoire d'Économie de la Production et de l'Intégration Internationale - UPMF - Université Pierre Mendès France - Grenoble 2 - CNRS - Centre National de la Recherche Scientifique)

Abstract

Section 1 will present, as a starting point, the regional payments and unit of accounts agreements in Latin America: the Reciprocal Payments and Credits Agreement of the Latin American Integration Association or ALADI, the ‘Peso Andino” set up by the Latin American Reserve Fund (FLAR) and the Payment System on Local Currency agreement (SML) recently launched by Brazil and Argentina. Section 2 will examine the objections arisen against Keynes's plan. It will also emphasise their relevance to the Sucre plan or to any similar plan. Section 3 will focus on the exchange scheme drafted by Keynes and on how to supplement it in order to get over the objections under examination.

Suggested Citation

  • Jean-François Ponsot, 2009. "How could the Bank of the South promote sustainable development and regional monetary integration in Latin America ?," Post-Print halshs-00402260, HAL.
  • Handle: RePEc:hal:journl:halshs-00402260
    Note: View the original document on HAL open archive server: https://halshs.archives-ouvertes.fr/halshs-00402260
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    References listed on IDEAS

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    1. Davidson, Paul, 1972. "Money and the Real World," Economic Journal, Royal Economic Society, vol. 82(325), pages 101-115, March.
    2. Claude Gnos & Louis-Philippe Rochon, 2004. "Reforming the international financial and monetary system: from Keynes to Davidson and Stiglitz," Journal of Post Keynesian Economics, Taylor & Francis Journals, vol. 26(4), pages 613-629.
    3. Wesley C. Marshall & Louis-Philippe Rochon, 2009. "Financing economic development in Latin America: the Banco del Sur," Journal of Post Keynesian Economics, Taylor & Francis Journals, vol. 32(2), pages 185-198, December.
    4. McKinnon, Ronald I, 1993. "The Rules of the Game: International Money in Historical Perspective," Journal of Economic Literature, American Economic Association, vol. 31(1), pages 1-44, March.
    5. Jean-François Ponsot, 2006. "Dollarization and the hegemonic status of the US dollar," Post-Print halshs-00191564, HAL.
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    More about this item

    Keywords

    regional monetary integration; Latin America; sustainable development; développement durable; intégration régionale; politique monétaire; monnaie; Amérique Latine;

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