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Prospects of currency union in the South Pacific: results of a preliminary assessment

Jayaraman, Tiruvalangadu K. (2001) Prospects of currency union in the South Pacific: results of a preliminary assessment. Journal of Pacific Studies, 25 (2). pp. 173-201. ISSN 1011-3029

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The paper presents some preliminary findings of a study on the prospects for a currency union among the Pacific Island countries. In addition to drawing upon extensive theoretical literature, the study utilizes the experiences of currency unions among the developing countries in the West African and Carribean regions. As ill – thought out and ill – planned monetary and currency unions might end in disaster, certain prerequisites suggested in the literature are carefully evaluated. These include an examination of the pre – union trade patterns, asymmetric economic shocks, labour mobility and possibilities of fiscal transfers, as well as institutional strengths of the existing central banks with regard to their monetary policy formulation and implementation. The indications are that the Pacific Island countries would refer to await the outcome of a free trade area before forging higher forms of intergration.

Item Type: Journal Article
Subjects: H Social Sciences > HG Finance
Divisions: Faculty of Business and Economics (FBE) > School of Economics
Depositing User: Ms Mereoni Camailakeba
Date Deposited: 18 Nov 2001 09:21
Last Modified: 01 May 2012 13:55

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