Chapter

Argentina's Currency Board and the Case for Macroeconomic Policy Coordination in Mercosur

José María Fanelli

in The Dollarization Debate

Published in print May 2003 | ISBN: 9780195155358
Published online November 2003 | e-ISBN: 9780199832989 | DOI: http://dx.doi.org/10.1093/0195155351.003.0024
Argentina's Currency Board and the Case for Macroeconomic Policy Coordination in Mercosur

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This chapter examines the pros and cons of macroeconomic policy coordination in Mercosur. It reviews the macroeconomic functioning of the Argentine economy under convertibility, and the exchange regimes and trade structure of Mercosur countries. It argues that Mercosur countries would greatly benefit from gradually advancing into macro coordination. The first step is to reduce the remaining volatility in the evolution of nominal and relative prices within the bloc.

Keywords: Argentina; Mercosur; dollarization; currency board; macroeconomic policy coordination; exchange rate

Chapter.  9836 words.  Illustrated.

Subjects: International Economics

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