Integrating Uneven Partners: The Destabilizing Effects of Financial Liberalization and Internationalization of Latin American Economics

Rogerio Studart

Chapter 9 in Monetary Integration and Dollarization, 2006 from Edward Elgar Publishing

Abstract: This book deals with the economic consequences of monetary integration, which has long been dominated by the Optimal Currency Area (OCA) paradigm. In this model, money is perceived as having developed from a private sector cost minimization process to facilitate transactions. Not surprisingly, the book argues, the main advantage of monetary integration in the OCA context is the reduction of transaction costs, yet the validity of OCA to analyze processes of monetary integration seems to be limited at best.

Keywords: Economics and Finance (search for similar items in EconPapers)
Date: 2006
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Working Paper: Integrating Uneven Partners: the Destabilizing Effects of Financial Liberalization and Internationalization of Latin American Economies (2001)
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