Various claims have been made by economist and others as to what caused the Asian crisis, as well as what caused its spread through much of East Asia. Here, we perform some initial testing of four hypotheses, including the dominant role of portfolio investors and hedge funds in initiating and...

ContributorsIntroduction, Dominick Salvatore, James W. Dean, and Thomas D. WillettPart I. General AnalysisA Visionary's View1. Currency Areas, Exchange Rate Systems, and International Monetary Reform, Robert MundellDe Facto Dollarization2. Unofficial Dollarization in Latin America: Currency...

Helleiner finds little support in the U.S. for the concessions that would be necessary to make a North American monetary union palatable in Canada. Comparing the U.S. Federal Reserve and the European Monetary Union, he argues that the influence of Canada within a North American monetary union...