In the wake of the global liberalization of financial and currency markets in the 1970s and 1980s, currency substitution has given rise to increasing policy concern. In developing countries, this phenomenon mainly results from the flight out of the domestic currency as a reaction to...

Since the beginning of the 1990s almost all Latin American countries have begun to change their strategies from protectionism to free trade. Historically, plans for regional economic integration have a long tradition on this continent, but attempts to bring them to fruition have failed time and...

The grouping together of neighbouring countries to form free trade areas or economic and monetary unions currently constitutes a phenomenon occurring in all regions around the world. How far has the bloc-building process progressed? How will the development of world trade be affected by this...