This book argues for a new conceptual framework that analytically distinguishes between North-South monetary co-ordination, which involves an international key currency, and South-South arrangements between economies all marked by external indebtedness and the resulting macroeconomic instabilities ('original sin'). In this light, the book analyzes different types of monetary co-ordination, ranging from ad hoc exchange rate policy agreements to projects of a common supranational currency, and it examines selected regional cases in Eastern Europe, North and South America, Africa and Asia.
Author Biography:
PETER BOFINGER Professor of Monetary Policy and International Economics, Julius-Maximilians University Würzburg, Germany
FERNANDO CARDIM DE CARVALHO Professor of Economics, Institute of Economics, Federal University of Rio de Janeiro, Brazil
HERIBERT DIETER Senior Research Associate, German Institute for International Affairs, Germany
HEINER FLAßBECK Officer-in-Charge, Division on Globalization and Development Strategies, UNCTAD, Germany
DIRK F. KOHNERT Deputy Director, Institute of African Affairs, Germany
JAN KREGEL Chief, Policy Analysis and Development Branch, United Nations Financing for Development, USA
MANFRED NITSCH Professor of Political Economy, Latin American Institute, Freie Universität, Germany
PETER NUNNENKAMP Senior Research Fellow, Kiel Institute for World Economics, Germany
UGO PANIZZA Economist, Research Department, Inter-American Development Bank, USA
BEATE RESZAT Senior Economist, Hamburg Institute of International Economics, Germany
WALTRAUD SCHELKLE Lecturer in Political Economy, European Institute, London School of Economics, UK
JAN SUCHANEK Economist and Journalist, Germany
