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Please use this identifier to cite or link to this item: http://hdl.handle.net/2344/765

タイトル: Monetary Systems in Developing Countries: An Unorthodox View
著者: Cordeiro, Jose Luis
キーワード: Exchange rates
Monetary policy
Monetary union
Dollarization
Euroization
Developing countries
Foreign exchange
Finance
International finance
Money
為替レート
金融政策
通貨同盟
ドル化
ユーロ化
発展途上国
外国為替
金融
国際金融
貨幣
Issue Date: May-2008
出版者: Institute of Developing Economies, JETRO
引用: IDE Discussion Paper. No. 154. 2008.5
抄録: This paper analyzes some recent theoretical and practical evidence in terms of economic results of different exchange rate systems. It begins with a historical review and a summary of fixed versus flexible exchange rate systems. Then it compares the experiences of recent currency unions, mostly unilateral, and their relative economic performance during the past currency crises in Latin America, East Asia and Eastern Europe. A set of issues is discussed in order to weigh the overall costs and benefits for several economies. These issues include exchange rates, GDP performance, inflation rates and foreign reserves. The case of Argentina is also considered separately, comparing mostly seigniorage costs and interest-rate savings. The benefits and costs of the producers (central banks/governments) and the consumers (citizens) of money are discussed separately. Free banking is also considered in a fast-changing world where there will probably be fewer but better currencies. Not just the euro is a reality now, but maybe the "amero" and the "worldo" or the "mondo" very soon.
URI: http://hdl.handle.net/2344/765
Appears in Collections:01.経済、産業(Economy and Industry)/複数地域(Interregional Studies)
04.IDE Discussion Paper

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