Regional Monetary Cooperation in Emerging, Transition, and Developing Economies

Barbara Fritz and Laurissa Mühlich

Chapter 6 in Palgrave Dictionary of Emerging Markets and Transition Economics, 2015, pp 112-129 from Palgrave Macmillan

Abstract: Abstract This chapter systematically examines the variety of regional cooperation arrangements in the developing world that range from regional payment systems over the pooling of reserves to exchange rate coordination. The main contribution of regional monetary cooperation to enhancing the shock buffering ability of its member countries is to provide short-term liquidity and to increase regional trade and financial links. The potential for shock buffering is dependent on the chosen form of regional monetary cooperation. In contrast to full monetary integration which is highly demanding in terms of policy coordination, the requirements for regional policy coordination are significantly lower, depending on the form and aim of regional monetary cooperation arrangements.

Keywords: Exchange Rate; Monetary Policy; Real Exchange Rate; Gulf Cooperation Council; Exchange Rate Policy (search for similar items in EconPapers)
Date: 2015
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-137-37138-6_7

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DOI: 10.1007/978-1-137-37138-6_7

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