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Financial and monetary cooperation in South America: making the case for a deeper integration among the UNASUR countries
ISSN: 2178 - 8839
Publisher: author
Financial and monetary cooperation in South America: making the case for a deeper integration among the UNASUR countries
Indexed in
Social Sciences
ARTICLE-FACTOR
1.3
Article Basics Score: 2
Article Transparency Score: 2
Article Operation Score: 2
Article Articles Score: 2
Article Accessibility Score: 3
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International Category Code (ICC):
ICC-0202
Publisher: Conjuntura Austral: Journal Of The Global South Internatio..
International Journal Address (IAA):
IAA.ZONE/217847178839
eISSN
:
2178 - 8839
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Abstract
The international financial crisis and the ‘great recession’ have substantially altered the dynamic process of the international economy. On the one hand, it has accentuated the asymmetry that exists between the economic size of emerging countries and their current role in the international monetary system (IMS). On the other hand, there is little space for substantial reforms in the global financial architecture inherited from the post-War period, particularly regarding to the Bretton Woods Institutions. In view of these developments, regional integration has become a second best strategy for the developing countries, specifically for South America countries. In this article, we investigate the existing mechanisms of monetary and financial cooperation in South America and question if they can ensure progress in regional integration. The historical and institutional analysis of the existing mechanisms in South America reveals a fr...
