Dominick Salvatore, James W. Dean, and Thomas D. Willett

Print publication date: 2003

Print ISBN-13: 9780195155358

Published to Oxford Scholarship Online: November 2003

DOI: 10.1093/0195155351.001.0001

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ContentsFRONT MATTER

Title Pages
Preface
Contributors
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
III North America
IV Latin America
END MATTER
Index

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Pressures for Currency Consolidation in Insurance and Finance

Are the Currencies of Financially Small Countries on the Endangered List?

Chapter:: 12 Pressures for Currency Consolidation in Insurance and Finance
Source:: The Dollarization Debate
Author(s):: George M. von Furstenberg
Publisher:: Oxford University Press

DOI:10.1093/0195155351.003.0013

E-commerce, regional economic integration, and global liberalization have eroded the monopoly of small currencies in their home markets. These factors now threaten the continued viability of these currencies in the medium-term. Partial currency consolidations are likely to be unsuitable in the new environment leading to regional monetary union.

Keywords: currency consolidation, e-commerce, exchange rates, monetary union

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Dominick Salvatore, James W. Dean, and Thomas D. Willett

Subject(s) in Oxford Scholarship Online

Pressures for Currency Consolidation in Insurance and Finance

Are the Currencies of Financially Small Countries on the Endangered List?

George M. von Furstenberg