Upon entry into the European Union, countries become members of the Economic and Monetary Union (EMU), with a derogation from adopting the euro as their currency (that is, each country joining the EU commits to replace its national currency with the euro, but can choose when to request...

The aim of this book is to provide policymakers in Latin America with the stylized facts of what works and what does not in decentralization policies and schemes, based on analysis of the recent experiences of several Latin American countries.