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Regional Monetary Cooperation in Latin America

Author

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  • José Antonio Ocampo

    (Asian Development Bank Institute)

  • Daniel Titelman

    (Asian Development Bank Institute)

Abstract

Latin American has the longest history of regional integration efforts in the developing world. This paper analyzes the experience of regional monetary cooperation in Latin America over the past three decades. This experience has been overall successful but also uneven, both in terms of country coverage and services provided. Although strictly not a form of monetary cooperation, development financing does play a useful complementary role by proving counter-cyclical or at least stable financing during crises, when private financing for developing countries dries up.

Suggested Citation

  • José Antonio Ocampo & Daniel Titelman, 2012. "Regional Monetary Cooperation in Latin America," ADBI Working Papers 373, Asian Development Bank Institute.
    • Handle: RePEc:ris:adbiwp:0373
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    References listed on IDEAS

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    1. Culpeper, Roy, 2006. "Reforming the global financial architecture: the potential of regional institutions," Copublicaciones, Naciones Unidas Comisión Económica para América Latina y el Caribe (CEPAL), number 1925, September.
    2. Titelman Kardonsky, Daniel & Machinea, José Luis, 2007. "Less volatile growth?: the role of regional financial institutions," Revista CEPAL, Naciones Unidas Comisión Económica para América Latina y el Caribe (CEPAL), April.
    3. Ocampo, José Antonio, 2006. "Regional financial cooperation: experiences and challenges," Copublicaciones, Naciones Unidas Comisión Económica para América Latina y el Caribe (CEPAL), number 1923, September.
    4. José Antonio Ocampo, 1983. "Esquema de un sistema de pagos para el Grupo Andino," Coyuntura Económica, Fedesarrollo, vol. 13(2), pages 195-200.
    5. Agosin, Manuel R., 2001. "Strengthening regional financial cooperation," Revista CEPAL, Naciones Unidas Comisión Económica para América Latina y el Caribe (CEPAL), April.
    6. Eatwell, John & Taylor, Lance (ed.), 2002. "International Capital Markets: Systems in Transition," OUP Catalogue, Oxford University Press, number 9780195154986, Decembrie.
    7. -, 2006. "Regional financial cooperation," Copublicaciones, Naciones Unidas Comisión Económica para América Latina y el Caribe (CEPAL), number 1922 edited by Eclac, September.
    8. -, 2002. "Growth with stability: financing for development in the new international context," Libros de la CEPAL, Naciones Unidas Comisión Económica para América Latina y el Caribe (CEPAL), number 2319 edited by Eclac, September.
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    Citations

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    Cited by:

    1. Titelman Kardonsky, Daniel & Vera, Cecilia & Carvallo, Pablo & Pérez Caldentey, Esteban, 2014. "Un fondo de reservas regional para América Latina," Revista CEPAL, Naciones Unidas Comisión Económica para América Latina y el Caribe (CEPAL), April.
    2. Cheng, Gong, 2015. "The Global Financial Safety Net through the Prism of G20 Summits," MPRA Paper 68070, University Library of Munich, Germany, revised Nov 2015.
    3. Titelman Kardonsky, Daniel & Vera, Cecilia & Carvallo, Pablo & Pérez Caldentey, Esteban, 2014. "A regional reserve fund for Latin America," Revista CEPAL, Naciones Unidas Comisión Económica para América Latina y el Caribe (CEPAL), April.
    4. C. Randall Henning, 2017. "Avoiding Fragmentation of Global Financial Governance," Global Policy, London School of Economics and Political Science, vol. 8(1), pages 101-106, February.
    5. Daniel Titelman, 2012. "Hacia una cobertura regional más amplia de un Fondo de Reservas," Papers and Proceedings 11861, Fondo Latino Americano de Reservas - FLAR.
    6. Zeki Tuğrul Göver, 2018. "The Effects of the IMF’s Quota and Governance Reforms on Turkey," Bulletin of Economic Theory and Analysis, BETA Journals, vol. 3(1), pages 1-34.
    7. Manuel R. Agosin, 2013. "Un Fondo Monetario Latinoamericano: Dimensiones Requeridas y Modalidades," Documentos de Discusión FLAR 11017, Fondo Latino Americano de Reservas - FLAR.
    8. Alves Elia Elisa Cia & Biancarelli André Martins, 2020. "Financial cooperation initiatives in Latin America: Conditions of origins, subsistence and eventual vanishing," Economics and Business Review, Sciendo, vol. 6(4), pages 51-71, December.

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    More about this item

    Keywords

    regional monetary cooperation; latin america; regional integration; development financing;
    All these keywords.

    JEL classification:

    • O23 - Economic Development, Innovation, Technological Change, and Growth - - Development Planning and Policy - - - Fiscal and Monetary Policy in Development
    • O54 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - Latin America; Caribbean

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