Macroeconomic Coordination and Policy Problems of Regional Blocs: Reflections on the Mercosur Experiment

Maria Luiza Falcão Silva, Joaquim Pinto Andrade and Thomas S. Torrance

Chapter 7 in Regional Integration and Economic Development, 2001, pp 68-90 from Palgrave Macmillan

Abstract: Abstract The international economy has undergone in the last few years a deep transformation. It is important to recall briefly that the international economy has shifted from being a bipolar model, led by the United States and the former Soviet Union, to being a multipolar model with three great economic powers- the European Union (EU), Japan, and the United States — plus Russia and China competing for the leadership of international trade. The formation of global markets is a matter of immense concern for the economic and political survival of many developing countries. “Stimuli from global markets causes the formation of regional markets, and the eventual success or failure of these markets” (Thorstensen and Lozardo, 1995, p.3). As a result several countries are converging to consolidate regional economic blocs, trading agreements and preferences, and monetary unification.

Keywords: Exchange Rate; Monetary Policy; Fiscal Policy; Real Exchange Rate; Monetary Union (search for similar items in EconPapers)
Date: 2001
References: Add references at CitEc
Citations:

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-0-230-51317-4_7

Ordering information: This item can be ordered from
http://www.palgrave.com/9780230513174

DOI: 10.1057/9780230513174_7

Access Statistics for this chapter

More chapters in Palgrave Macmillan Books from Palgrave Macmillan
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().