The Dollarization Debate
Salvatore, Dominick Chair of Economics, Fordham University
Dean, James W. Professor of Economics, Simon Faser University
Willett, Thomas D. Professor of Economics, Claremont Graduate School
Print publication date: 2003 (this edition)
Published to Oxford Scholarship Online: November 2003
Print ISBN-13: 978-0-19-515535-8




13 Monetary Union
The Political Dimension
doi:10.1093/0195155351.003.0014

Benjamin J. Cohen
Abstract: This chapter focuses on the political dimension of monetary union — key domestic and international political issues involved when sovereign states consider either currency unification or formal dollarization. It examines the role of policies in the context of two distinct stages: at the time when the initial decision is made to create a monetary union, and as part of what determines the sustainability of the endeavor. Implications for Canada and Latin America are discussed.

Keywords: political dimension, monetary union, dollarization, currency unification,

You have access to the abstract for this item.     You have access to the full text for this item.


 
Privacy Policy and Legal Notice © Oxford University Press, . All rights reserved.
Quick Search Form

Contents
 
scroll up fast
scroll up
 
scroll down
scroll down fast
Full Book Contents
Preface
Introduction
I General Analysis
A Visionary's View
1 Currency Areas, Exchange Rate Systems, and International Monetary Reform
De Facto Dollarization
2 Unofficial Dollarization in Latin America
Pros and Cons
3 The Pros and Cons of Full Dollarization
Pros and Cons
4 Is It Time for a Common Currency for the Americas?
Pros and Cons
5 Dollarization
Pros and Cons
6 What Problems Can Dollarization Solve?
Pros and Cons
7 What Use Is Monetary Sovereignty?
One Regime for All Countries?
8 The OCA Approach to Exchange Rate Regimes
One Regime for All Countries?
9 Dollarization Does not Make Sense Everywhere
One Regime for All Countries?
10 The Problem of Dollar Encroachment in Emerging Markets
One Regime for All Countries?
11 Which Countries in the Americas Should Dollarize?
One Regime for All Countries?
12 Pressures for Currency Consolidation in Insurance and Finance
II Political Economy
13 Monetary Union
14 Latin American Official Dollarization
15 The Political Economy of Dollarization in Mexico
16 Lessons of the Euro for Dollarization
III North America
17 North American Currency Integration
18 The Merit of a North American Monetary Union
19 Why Canada Needs a Flexible Exchange Rate
IV Latin America
20 Should Latin America's Common-Law Marriage to the U.S. Dollar Be Legalized?
21 What Exchange Rate Arrangement Works Best for Latin America?
22 A Dollarization/Free-Banking Blueprint for Argentina
23 Argentina's Currency Board and the Case for Macroeconomic Policy Coordination in Mercosur
24 Cuba
Index
 
Return to top of list
SUBSCRIBER