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The Economics of International Payments Unions and Clearing Houses

Theory and Measurement

  • Authors
  • Byron Gerald Auguste

Part of the St Antony’s Series book series

Table of contents

  1. Front Matter
    Pages i-xviii
  2. Introduction

    1. Byron Gerald Auguste
      Pages 1-8
  3. The Theory of Regional Payments Arrangements

    1. Front Matter
      Pages 9-9
    2. Byron Gerald Auguste
      Pages 33-51
    3. Byron Gerald Auguste
      Pages 52-81
    4. Byron Gerald Auguste
      Pages 98-109
  4. Measuring the Impact of Regional Payments Arrangements

    1. Front Matter
      Pages 111-111
    2. Byron Gerald Auguste
      Pages 113-131
  5. The European Payments Union, 1950–58

    1. Front Matter
      Pages 149-149
    2. Byron Gerald Auguste
      Pages 167-185
    3. Byron Gerald Auguste
      Pages 186-205
    4. Byron Gerald Auguste
      Pages 206-220
  6. The Reciprocal Payments and Credits System in Latin America, 1966–91

    1. Front Matter
      Pages 221-221
    2. Byron Gerald Auguste
      Pages 223-249
    3. Byron Gerald Auguste
      Pages 264-266
  7. Back Matter
    Pages 267-306

About this book

Introduction

International payments unions and clearing houses have been employed by 88 countries in Europe, Asia, Africa, Latin America and the Caribbean to liberalise regional trade and payments during the past 50 years. Yet, their impact on participating countries has not been well understood. When the republics of the former Soviet Union were deciding on new monetary regimes, many economists proposed a payments union but could not estimate its potential benefits or risks. This book presents the first fully articulated theory of international payments unions and clearing houses in order to answer the questions: When should a country choose to participate in a payments union? What benefits and costs have actually resulted from existing and past clearing houses? When should countries in a clearing house seek to form a payments union?

Keywords

Asia Clearing distribution economic growth economics growth liberalization trade unions

Bibliographic information

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