This book deals with the economic consequences of monetary integration, which has long been dominated by the Optimal Currency Area (OCA) paradigm. In this model, money is perceived as having developed from a private sector cost minimization process to facilitate transactions. Not surprisingly,...

Introduction -- Part A: Economic Integration and Its Trade Effects -- Part B: Financial Sector Development and Common Currency -- Part C: Public Finances, FDI, Research, Innovation and Knowledge -- Part D: Inclusive and Sustainable Growth -- Part E: Conflict-Growth Relationship and Reconstruction.