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Wealth by Association: Global Prosperity through Market Unification

Autor John C. Edmunds, John Marthinsen
en Limba Engleză Hardback – 30 mar 2003
European monetary unification has produced a $15 trillion windfall to its member nations that is rarely discussed or accounted for in analyses of economic integration. Edmunds and Marthinsen argue that the reduction in cross-border risks-foreign exchange uncertainty, inflation differentials, competitive devaluations, and protectionism in financial services, among other-is directly responsible for an explosion in the value of fixed income assets and share prices. They explain how this wealth accumulation began to accrue even before the Euro was formally adopted. Could the same thing happen in Latin America or Asia?

Elegantly written and cogently argued, this book explores the ramifications of currency unification for each region in three scenarios: partial unification, dollarization, and full unification. The authors compute the increases in wealth created by these various levels of currency unification, provide spreadsheet models that examine the connections between the growth of financial wealth and real economic growth, and emphasize differentials in economic wealth among regions with time series maps that resize nations according to equity markets rather than geography.
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Specificații

ISBN-13: 9781567205299
ISBN-10: 1567205291
Pagini: 264
Dimensiuni: 156 x 235 x 25 mm
Greutate: 0.54 kg
Ediția:New.
Editura: Bloomsbury Publishing
Colecția Praeger
Locul publicării:New York, United States

Cuprins

Preface
Introduction
Financial Wealth Phenomenon
Economic and Monetary Integration
European Monetary Unification
The Development a Common Currency in the United States and Germany
Country Risk
Hypothetical Examples of Wealth Creation in Asia and Latin America
Wealth Trajectories and Spillover Effects
Implications and Conclusions
Appendices
Bibliography
Index