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Introduction

In: Money Markets and Politics

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Abstract

The dramatic evolution of financial markets in the 1980s and 1990s, accompanied by increasing institutional integration between nations (most notably in the EU), have fostered a widespread belief that governments – particularly those of small economies – have essentially lost the power to pursue sovereign, independent economic policies. At the same time, it is widely assumed that the loss of monetary-policy control is a major opportunity cost for a country adopting a rigid exchange-rate regime or, in the European context, for countries joining the EMU This book sheds light on these arguments.

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  • ., 2003. "Introduction," Chapters, in: Money Markets and Politics, chapter 1, Edward Elgar Publishing.
    • Handle: RePEc:elg:eechap:3136_1
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    Economics and Finance;

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