We consider some of the important economic constraints faced by landlocked economies in a game theoretic framework that involves its neighbor that has access to the ocean. We identify the strengths that the landlocked economy might have or develop through policy in order to negotiate with its...

The principal goal of integration in Europe has always been the safeguarding of peace through economic integration. The European Union (EU) has overseen splendid economic achievements. A sign of that great success has been the EU’s continuous enlargement. The eurozone is the crown jewel in the...

This study extends previous research by comparing banks across European Union (EU) accession and non-accession countries of central-eastern Europe in order to detect differences that perhaps have implications related to policy prescriptions for joining the EU. Using commercial banking data from...

This paper examines whether or not the Northeast Asian economies, namely, China, Japan, Korea, and Taiwan, can form a currency union, where a single currency and a uniform monetary policy are adopted, or an exchange rate union where all the currencies are pegged to an internal or external...

This paper considers the effects of formation or new accession to a monetary union (MU) on itself (“ins”) and the outsiders (“outs”) as well. Since a MU inherently means a “large” entity, we construct a large country model to examine those effects in the context of economic growth....

Like all major currencies, the Euro will attract a fringe of hangers-on. For EMU participants, the most important will be those with which participants already have significant trading and other economic relationships. These relation - ships are not homogeneous across the EMU, but instead we can...

Financial regulation has shifted from a system as an oligopoly dominated by the G2/G5 to expanded clubs like the Basel Committee for Banking Supervision. Expansive clubs have to agree to terms that are closer to the preferences of soft-regulation members. Yet, once a global agreement on minimum...

The eurozone is the crown jewel in the process of European integration. This monetary zone includes the most advanced integration grouping of countries in the European Union. The eurozone has been expanding the number of its participants, a sign of success in any economic or political union....

Massive intra-Asian economic integration has been accompanied by very little institution building. This paper considers whether Asia needs new institutions by drawing lessons from the EU’s supranational integration sequence and EFTA’s intergovernmental sequence. Sequencing theory is...

Even among academics, it is less known that Europe already witnessed a monetary unification project in the second part of the 19th century. The unification endeavours culminated in the creation of the Latin Monetary Union in 1865, which eventually failed. This paper compares the historical event...