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Regional currencies and regional monetary zones in Latin America : what prospects ?

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  • Jean-François Ponsot

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

  • Claude Gnos

    (LEG - Laboratoire d'Economie et de Gestion - UB - Université de Bourgogne - CNRS - Centre National de la Recherche Scientifique)

Abstract

This paper aims at drawing lessons from Keynes's plan presented at the Bretton Woods conference, in order to help improving current regional monetary agreements in Latin America. Some promoters of the Bank of the South and the New Financial Architecture in Latin America are proposing to implement a regional clearing system designed to allow a multilateral offsetting of the liabilities and assets generated in the reciprocal transactions of member countries in words that the British economist certainly would not have denied. This system would be very different from current regional payments aggreements that maintain an implicit reference to the US dollar as reserve or payment currency.

Suggested Citation

  • Jean-François Ponsot & Claude Gnos, 2009. "Regional currencies and regional monetary zones in Latin America : what prospects ?," Post-Print halshs-00402275, HAL.
    • Handle: RePEc:hal:journl:halshs-00402275
    Note: View the original document on HAL open archive server: https://shs.hal.science/halshs-00402275
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    References listed on IDEAS

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    1. Paul Davidson, 2002. "Financial Markets, Money and the Real World," Books, Edward Elgar Publishing, number 2467.
    2. Paul Davidson, 1978. "Money and the Real World," Palgrave Macmillan Books, Palgrave Macmillan, edition 0, number 978-1-349-15865-2, December.
    3. Claude Gnos, 2006. "Reforming the international payment system : an assessment," Post-Print halshs-00144965, HAL.
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    Cited by:

    1. Ilene Grabel, 2012. "Financial Architectures and Development: Resilience, Policy Space, and Human Development in the Global South (revised June 2012)," Working Papers wp281_revised, Political Economy Research Institute, University of Massachusetts at Amherst.
    2. repec:grt:wpegrt:2014-21 is not listed on IDEAS
    3. Jean-François Ponsot, 2012. "Financement soutenable et création monétaire en régime de dollarisation : le cas de l'Équateur," Post-Print halshs-00687369, HAL.

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