Whether the prospective shift of the peg of the CFA franc to the euro would constitute an exchange rate arrangement with EMU countries would depend critically on the interpretation of the free convertibility of the CFA franc guaranteed by France. Nonetheless, this shift is likely to leave the...

The study aims to determine the available strategic alternatives for commercial banks in Jordan, in order to face the challenges of European-Jordanian Partnership Agreement and World Trade Organisation. This is based on analysing the external and internal variables that influence these banks and...

The aim of the paper is to discuss the use of corporate bonds in financial strategies in Central and Eastern Europe (CEE) and repercussions to the transition progress. We provide empirical data on the growing use of corporate bonds in CEE, discuss the level of development of the domestic...

This paper undertakes an empirical assessment of Dollarization versus regional currency union as options for the economies of East Asia, South America and Central America. We use summary indicators of bilateral integration to examine the determinants of real exchange rate volatility within each...

A közelmúltban Brüsszelben megtartott rendkívüli ülésén az Európai Tanács döntést hozott a monetáris unió megalapítóiról, határozott a tagországok nemzeti valutái árfolyamainak rögzítéséről, és döntött az európai központi bank első elnökének személyéről....

This paper examines the evolving dynamics between economic globalization and Asian regional interdependence, and asks whether and how the global financial crisis impacted Asian regionalism. The analysis suggests that the global crisis did trigger advances in regional policy cooperation from 2007...

This paper assesses the feasibility of forming a common currency in Latin America. First, we examine the cointegration and Granger causality of real effective exchange rates and find evidence supporting a monetary union comprised of Argentina, Bolivia, Brazil, Chile, Colombia, Mexico, and...

This paper compares the euro area and the US in order to draw lessons for improving the Economic and Monetary Union. Although it is not perfect, the US comes closer to fulfilling the criteria of the Optimum Currency Area theory, and it did not experience the debt crisis that hit the euro area,...

The European Monetary Union is characterized by a crisis of governance, this has become more evident with the crisis of the euro which has shown the weaknesses of the European institutions and stressed the heterogeneity of member countries. The global financial crisis struck the euro area very...

About five decades the Franc CFA-Zone in Western and Central Africa was praised as incarnation of economic and political stability in Africa, backed by France. But free convertibility and fixed parity, guaranteed by the French Treasury, mainly served the interest of a small elite of the...