IDEAS home Printed from https://ideas.repec.org/a/pal/compes/v45y2003i3p384-420.html
   My bibliography  Save this article

Prospects for Regional Monetary Integration in Latin America: A View from the EU(1)

Author

Listed:
  • Helidoro Temprano-Arroyo

    (European Commission, rue de la Loi 200, 1049 Brussels.)

Abstract

This paper assesses the advisability of regional monetary integration in Latin America by looking at the experience with EMU, and by applying the theory of optimum currency areas (OCA) and other criteria proposed by the more recent literature. The analysis based on the OCA criteria suggests that, with the possible exception of NAFTA, none of the regions examined should engage in monetary integration. The traditional OCA theory does not take into account, however, some relevant aspects such as the degree of de facto dollarisation, the existence of credibility problems and the endogeneity of some of its criteria. After extending the analysis to these factors, the picture changes somewhat, particularly regarding the advisability of dollar-based monetary integration in Central America. Comparative Economic Studies (2003) 45, 384–420. doi:10.1057/palgrave.ces.8100020

Suggested Citation

  • Helidoro Temprano-Arroyo, 2003. "Prospects for Regional Monetary Integration in Latin America: A View from the EU(1)," Comparative Economic Studies, Palgrave Macmillan;Association for Comparative Economic Studies, vol. 45(3), pages 384-420, September.
    • Handle: RePEc:pal:compes:v:45:y:2003:i:3:p:384-420
    as

    Download full text from publisher

    File URL: http://www.palgrave-journals.com/ces/journal/v45/n3/pdf/8100020a.pdf
    File Function: Link to full text PDF
    Download Restriction: Access to full text is restricted to subscribers.
    File URL: http://www.palgrave-journals.com/ces/journal/v45/n3/full/8100020a.html
    File Function: Link to full text HTML
    Download Restriction: Access to full text is restricted to subscribers.
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Schüren, Verena, 2010. "Monetärer Regionalismus in Asien und Lateinamerika: Formen monetärer Zusammenarbeit um den Mercosur und die ASEAN seit den Finanzkrisen der 1990er Jahre," PIPE - Papers on International Political Economy 5/2010, Free University Berlin, Center for International Political Economy.
    2. Nannette Lindenberg & Frank Westermann, 2012. "How strong is the case for dollarization in Central America? An empirical analysis of business cycles, credit market imperfections and the exchange rate," International Journal of Finance & Economics, John Wiley & Sons, Ltd., vol. 17(2), pages 147-166, April.
    3. Drazen Derado, 2009. "Financial Integration and Financial Crisis: Croatia Approaching The EMU," Financial Theory and Practice, Institute of Public Finance, vol. 33(3), pages 299-328.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:pal:compes:v:45:y:2003:i:3:p:384-420. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Sonal Shukla or Springer Nature Abstracting and Indexing (email available below). General contact details of provider: http://www.palgrave-journals.com/ .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.