The Dollarization Debate / Edition 1

The Dollarization Debate / Edition 1

by Dominick Salvatore
     
 

ISBN-10: 019515536X

ISBN-13: 9780195155365

Pub. Date: 03/27/2003

Publisher: Oxford University Press, USA


This book takes a global approach, with an emphasis on North and Latin America respectfully, by discussing one of today's most controversial topics in business; Dollarization. With the collapse of the former Soviet Union, and the formation of the Euro in Europe, many countries and debating whether or not a common currency is in their best interest. This intriguing

Overview


This book takes a global approach, with an emphasis on North and Latin America respectfully, by discussing one of today's most controversial topics in business; Dollarization. With the collapse of the former Soviet Union, and the formation of the Euro in Europe, many countries and debating whether or not a common currency is in their best interest. This intriguing volume brings together the leading participants in the current dollarization debates. Many advocate the notion of a common currency, while others feel that in doing so will create financial costs for all that take part, with the severity varying from country to country.

Product Details

ISBN-13:
9780195155365
Publisher:
Oxford University Press, USA
Publication date:
03/27/2003
Edition description:
New Edition
Pages:
496
Product dimensions:
9.10(w) x 6.10(h) x 0.60(d)

Table of Contents

Contributors
Introduction, Dominick Salvatore, James W. Dean, and Thomas D. Willett
Part I. General Analysis
A Visionary's View
1. Currency Areas, Exchange Rate Systems, and International Monetary Reform, Robert Mundell
De Facto Dollarization
2. Unofficial Dollarization in Latin America: Currency Substitution, Network Externalities, and Irreversibility, Edgar L. Feige, Michael Faulend, Velimir &Sonje, and Vedran &So&si?
Pros and Cons
3. The Pros and Cons of Full Dollarization, Andrew Berg and Eduardo R. Borensztein
4. Is It Time for a Common Currency for the Americas?, Vittorio Corbo
5. Dollarization: Myths and Realities, Sebastian Edwards
6. What Problems Can Dollarization Solve?, Barry Eichengreen
7. What Use Is Monetary Sovereignty?, Kurt Schuler
One Regime for All Countries?
8. The OCA Approach to Exchange Rate Regimes: A Perspective on Recent Developments, Thomas D. Willett
9. Dollarization Does Not Make Sense Everywhere, John Williamson
10. The Problem of Dollar Encroachment in Emerging Markets, Ronald I. McKinnon
11. Which Countries in the Americas Should Dollarize?, Dominick Salvatore
12. Pressures for Currency Consolidation in Insurance and Finance: Are the Currencies of Financially Small Countries on the Endangered List?, George M. von Furstenberg
Part II. Political Economy
13. Monetary Union: The Political Dimension, Benjamin J. Cohen
14. Latin American Official Dollarization: Political Economy Aspects, Jürgen Schuldt
15. The Political Economy of Dollarization in Mexico, Nancy Neiman Auerbak and Aldo Flores-Quiroga
16. Lessons of the Euro for Dollarization: Analytic and Political Economy Perspectives, Harris Dellas and George S. Tavlas
Part III. North America
17. North American Currency Integration: A Canadian Perspective, Thomas J. Courchene and Richard G. Harris
18. The Merit of a North American Monetary Union, Herbert G. Grubel
19. Why Canada Needs a Flexible Exchange Rate, John D. Murray
Part IV. Latin America
20. Should Latin America's Common-Law Marriage to the U.S. Dollar Be Legalized? Should Canada's?, James W. Dean
21. What Exchange Rate Arrangement Works Best for Latin America?, Liliana Rojas-Suarez
22. A Dollarization/Free-Banking Blueprint for Argentina, Steven H. Hanke
23. Argentina's Currency Board and the Case for Macroeconomic Policy Coordination in Mercosur, José María Fanelli
24. Cuba: "Dollarization" and "Dedollarization", Archibald R. M. Ritter and Nicholas P. Rowe
Index

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