Lessons from the Eurocrisis for East Asian monetary relations

de Grauwe, Paul ORCID: 0000-0001-5225-1301 (2012) Lessons from the Eurocrisis for East Asian monetary relations. World Economy, 35 (4). pp. 405-418. ISSN 0378-5920

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Abstract

I analyse the sources of the Eurozone crisis. The major conclusion is that the Eurozone is insufficiently embedded in a monetary union, thereby making it fragile and prone to crises. The lesson I draw for East Asia is that despite the fact that this region appears to satisfy the traditional optimal currency area (OCA) criteria to form a monetary union, the complete absence of political unification makes the prospect of a monetary union in that region of the world both unrealistic and undesirable.

Item Type:	Article
Official URL:	http://onlinelibrary.wiley.com/journal/10.1111/%28...
Additional Information:	© 2012 Blackwell Publishing
Divisions:	European Institute
Subjects:	H Social Sciences > HG Finance J Political Science > JZ International relations
JEL classification:	F - International Economics > F0 - General
Date Deposited:	05 Oct 2012 15:10
Last Modified:	12 Dec 2024 00:12
URI:	http://eprints.lse.ac.uk/id/eprint/46618

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