SPECIAL ISSUE | ||
Masini Fabio |
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Multi-Speed Monetary Integration. Local Opportunities and Global Perspectives | ||
in Analele Universitatii Constantin Brancusi, Economics Series , n° 1 - 2009 , 2009 , 219-236 | ||
The recent, almost unprecedented financial crisis that is hitting most economies the world has raised the demand for a new global architecture for the world economic system, together with new ad-hoc rules and institutions. A crucial aspect of such a new framework is the monetary dimension. The paper suggests that, in the perspective of the production of some relevant global public goods (such as financial stability), all the main approaches to monetary integration (currency competition, parallel currency, single currency) may need to be operated simultaneously, although within different contexts. The process of increasing interdependence in East-Asia will be analysed in greater detail in order to verify the viability of a multi-speed and multi-level approach to worldwide monetary integration. | ||