de Grauwe, Paul (2012) Lessons from the Eurocrisis for East Asian monetary relations. The World Economy, 35 (4). pp. 405-418. ISSN 0378-5920
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 |
| Library of Congress subject classification: | H Social Sciences > HG Finance J Political Science > JZ International relations |
| Journal of Economic Literature Classification System: | F - International Economics > F0 - General |
| Sets: | Departments > European Institute Collections > Economists Online |
| Date Deposited: | 05 Oct 2012 15:10 |
| URL: | http://eprints.lse.ac.uk/46618/ |
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