| Description |
1 online resource (18 pages) |
| Series |
IMF working paper ; WP/06/234 |
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IMF working paper ; WP/06/234.
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| Contents |
Contents -- I. INTRODUCTION -- II. ECONOMIC CHARACTERISTICS AND EXCHANGE RATE POLICY IN THE PACIFIC REGION -- III. COMMON CURRENCY AREAS: EXPERIENCE IN OTHER REGIONS -- IV. ISSUES IN THE CONSIDERATION OF A COMMON CURRENCY AREA IN THE PACIFIC REGION -- V. CONCLUDING REMARKS -- References |
| Summary |
This paper examines the potential advantages and disadvantages of adopting a common currency arrangement among the six IMF member Pacific island countries that have their own national currency. These countries are Fiji, Papua New Guinea, Samoa, Solomon Islands, Tonga, and Vanuatu. The study explains that the present exchange rate regimes-comprising pegging to a basket of currencies for five countries and the floating arrangement for Papua New Guinea-have generally succeeded in avoiding inflationary, balance of payments, external debt, and financial system problems. The study concludes that adopting a common currency in the Pacific would require greater convergence of domestic policies and substantial strengthening of regional policies, which would take time to achieve |
| Bibliography |
Includes bibliographical references |
| Notes |
Master and use copy. Digital master created according to Benchmark for Faithful Digital Reproductions of Monographs and Serials, Version 1. Digital Library Federation, December 2002. http://purl.oclc.org/DLF/benchrepro0212 MiAaHDL |
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Print version record |
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digitized 2010 HathiTrust Digital Library committed to preserve pda MiAaHDL |
| Subject |
Monetary unions -- Islands of the Pacific
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Money -- Islands of the Pacific
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Monetary unions
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Money
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Pacific Ocean -- Islands of the Pacific
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| Form |
Electronic book
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| Author |
Orsmond, David William Harold, 1963- author.
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International Monetary Fund. Asia and Pacific Department
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| ISBN |
1282392158 |
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9781282392151 |
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9781451909470 |
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1451909470 |
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