European monetary integration: EMS developments and international post-Maastricht perspectives - Hardcover

Hardcover

ISBN 10: 3540574115 ISBN 13: 9783540574118

Publisher: Springer-Verlag, 1994

Synopsis

EC monetary integration was reinforced in the 1980s whenmacroeconomic convergence and a dominant role of the GermanBundesbank created the basis for relatively stable exchangerates and increasing EC trade volumes. Reduced capitalcontrols and rising capital mobility as well as Germanunification caused shifts and shocks which undermined EMSstability in a critical period - the transition to EMU inaccord with the Maastricht Treaty which called for furtherincreasing monetary integration. The analysis focuses onthese issues, the EMS crisis of 1992/93, the topic ofoptimum currency areas and the problem of fiscalpolicies/regional stabilization in Europe, the US andCanada. This book gives an assessment of the EMSdevelopments and shows how financial market liberalizationas well as the EC 1992 project affect the process ofeconomic and monetary union.

Edition details

• Publisher: Springer-Verlag
• Publication date: 1994
• Language: English
• ISBN 10: 3540574115
• ISBN 13: 9783540574118
• Binding: Hardcover
• Edition number: 2
• Number of pages: 378
• Editor: Paul J.J. Welfens