European Monetary Integration
EMS Developments and International Post-Maastricht Perspectives
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Beschreibung
EC monetary integration was reinforced in the 1980s when
macroeconomic convergence and a dominant role of the German
Bundesbank created the basis for relatively stable exchange
rates and increasing EC trade volumes. Reduced capital
controls and rising capital mobility as well as German
unification caused shifts and shocks which undermined EMS
stability in a critical period - the transition to EMU in
accord with the Maastricht Treaty which called for further
increasing monetary integration. The analysis focuses on
these issues, the EMS crisis of 1992/93, the topic of
optimum currency areas and the problem of fiscal
policies/regional stabilization in Europe, the US and
Canada. This book gives an assessment of the EMS
developments and shows how financial market liberalization
as well as the EC 1992 project affect the process of
economic and monetary union.
Autor*in
Paul J.J. Welfens
Themen in »European Monetary Integration«
Europa European Community European Monetary Integration European Monetary Union European Union European integration Europäische Union Europäisches Währungssystem Geldpolitik International Economics Maastric Maastricht Maastricht Treaty europe