This book seeks to explain why governments contemplate regional monetary integration and why some country groups are more likely than others to exercise that option. It also explains why some country groups may be more successful than others, and the limited relevance of the European experience...

This volume examines the implications of greater financial integration on the international monetary and financial system, and how it should be reformed. Various experts consider the most disruptive manifestations of instability and the appropriate policy responses, including exchange rate...