Commercial and Monetary Integration Processes: Are They Complementary?

Jose Mendez-Naya ()
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Jose Mendez-Naya: Universidad de La Coruna, Postal: Facultad de Ciencias Economicas, Department de Analise Economica, Universidade da Coruna, Campus da Zapateira, A Coruna 15071, Spain

Journal of Economic Integration, 1997, vol. 12, 141-156

Abstract: Traditional economic integration theory states that the formation of and economic union will effect both the member and non-member countries. This paper adds to traditional theory on economic integration by studying how non-member countries carry out their monetary policy in order tp counter those effects. Furthermore we prove that the formation of a customs union may increase monetary integration among non-members. Specifically it can be said that the greater the economic integration among countries the greater their incentives to currency zones. Therefore both, commercial and monetary integration processes may be considered as complementary.

Keywords: Commercial; Monetary Integration Processes (search for similar items in EconPapers)
JEL-codes: E50 F02 F15 (search for similar items in EconPapers)
Date: 1997
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Persistent link: https://EconPapers.repec.org/RePEc:ris:integr:0044

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