Euro and the financial relations between Latin America and Europe: medium- and long-term implications
Includes bibliography
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2014
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oai-11362-53542020-03-04T19:57:23Z Euro and the financial relations between Latin America and Europe: medium- and long-term implications Miotti, Luis Egidio Plihon, Dominique Quenan, Carlos NU. CEPAL. División de Desarrollo Económico ARREGLOS DE PAGO BANCOS TRANSNACIONALES INVERSIONES EXTRANJERAS RELACIONES ECONOMICAS RELACIONES INTERNACIONALES RESERVAS MONETARIAS SISTEMA MONETARIO INTERNACIONAL SISTEMAS MONETARIOS RECURSOS FINANCIEROS ECONOMIC RELATIONS FOREIGN INVESTMENTS INTERNATIONAL MONETARY SYSTEM INTERNATIONAL RELATIONS MONETARY RESERVES PAYMENTS ARRANGEMENTS TRANSNATIONAL BANKS MONETARY SYSTEMS FINANCIAL RESOURCES Includes bibliography Versión preliminar, en otra fuente, ingresada en Biblioteca (101399) Abstract The internationalisation of the euro is in its initial stages and it is still difficult to draw any definitive conclusions regarding its scope and its implications for Latin America. Indeed, the emergence of an internationally used currency is slow and subject to inertial forces. Nonetheless, several fairly robust conclusions can be inferred from the results of the document. The most plausible medium- to long-term international scenario seems to be development of an asymmetrical duopoly between the euro and the dollar. In a context of scant international monetary cooperation, this scenario could lead to high volatility between the two main international currencies, which will be a powerful destabilising factor for third countries. In terms of official international reserves, the growing financial use of the single European currency and the development of Euroland capital markets should lead to greater diversification in favour of the euro in the medium and long term. Together with other factors, the growth of the euro bond market will tend to increase the pressure to widen and deepen the euro financial market and make it more liquid. This should favour the development of better conditions for both European and third-country participants. The geographic diversification strategy implemented by the European banks, and the boom in European foreign direct investment could also favour greater international use of the euro. For Latin America, the sustained increase in the share of euro-denominated international bond issues, chiefly by the public sector, makes it necessary to consider policies for managing the currency composition of the external debt. On the other hand, the medium- to long-term consequences of an increasingly bipolar but asymmetrical international monetary system will have to be included in the Latin America national exchange rate policies, enhancing the possibility of adopting anchor baskets. 2014-01-02T16:11:43Z 2014-01-02T16:11:43Z 2002-03 Texto Documento Completo 9211213509 http://hdl.handle.net/11362/5354 LC/L.1716-P en Serie Macroeconomía del Desarrollo 13 application/pdf AMERICA LATINA EUROPA EUROPE LATIN AMERICA ECLAC |
| institution |
Cepal |
| collection |
Cepal |
| language |
English |
| topic |
ARREGLOS DE PAGO BANCOS TRANSNACIONALES INVERSIONES EXTRANJERAS RELACIONES ECONOMICAS RELACIONES INTERNACIONALES RESERVAS MONETARIAS SISTEMA MONETARIO INTERNACIONAL SISTEMAS MONETARIOS RECURSOS FINANCIEROS ECONOMIC RELATIONS FOREIGN INVESTMENTS INTERNATIONAL MONETARY SYSTEM INTERNATIONAL RELATIONS MONETARY RESERVES PAYMENTS ARRANGEMENTS TRANSNATIONAL BANKS MONETARY SYSTEMS FINANCIAL RESOURCES |
| spellingShingle |
ARREGLOS DE PAGO BANCOS TRANSNACIONALES INVERSIONES EXTRANJERAS RELACIONES ECONOMICAS RELACIONES INTERNACIONALES RESERVAS MONETARIAS SISTEMA MONETARIO INTERNACIONAL SISTEMAS MONETARIOS RECURSOS FINANCIEROS ECONOMIC RELATIONS FOREIGN INVESTMENTS INTERNATIONAL MONETARY SYSTEM INTERNATIONAL RELATIONS MONETARY RESERVES PAYMENTS ARRANGEMENTS TRANSNATIONAL BANKS MONETARY SYSTEMS FINANCIAL RESOURCES Miotti, Luis Egidio Plihon, Dominique Quenan, Carlos Euro and the financial relations between Latin America and Europe: medium- and long-term implications |
| description |
Includes bibliography |
| author2 |
NU. CEPAL. División de Desarrollo Económico |
| author_facet |
NU. CEPAL. División de Desarrollo Económico Miotti, Luis Egidio Plihon, Dominique Quenan, Carlos |
| format |
Texto |
| author |
Miotti, Luis Egidio Plihon, Dominique Quenan, Carlos |
| author_sort |
Miotti, Luis Egidio |
| title |
Euro and the financial relations between Latin America and Europe: medium- and long-term implications |
| title_short |
Euro and the financial relations between Latin America and Europe: medium- and long-term implications |
| title_full |
Euro and the financial relations between Latin America and Europe: medium- and long-term implications |
| title_fullStr |
Euro and the financial relations between Latin America and Europe: medium- and long-term implications |
| title_full_unstemmed |
Euro and the financial relations between Latin America and Europe: medium- and long-term implications |
| title_sort |
euro and the financial relations between latin america and europe: medium- and long-term implications |
| publisher |
ECLAC |
| publishDate |
2014 |
| url |
http://hdl.handle.net/11362/5354 |
| work_keys_str_mv |
AT miottiluisegidio euroandthefinancialrelationsbetweenlatinamericaandeuropemediumandlongtermimplications AT plihondominique euroandthefinancialrelationsbetweenlatinamericaandeuropemediumandlongtermimplications AT quenancarlos euroandthefinancialrelationsbetweenlatinamericaandeuropemediumandlongtermimplications |
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