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In the transitional economies of Cambodia, the Lao People's Democratic Republic, and Viet Nam (the CLV countries), foreign currencies such as the US dollar commonly circulate in addtion to the local currency. National authorities must consider the costs and benefits of such a system, especially in relation to monetary and exchange policies' effect on their development priorities. "This pioneering study is an important contribution to understanding the underpinnings of the Mekong economies' dynamism...Highly recommended." -- Hal Hill, H.W. Arndt Professor of Southeast Asian Economies, Austratlian National University While dealing with multiple currencies is ultimately an issue of national economic policy, the CLV countries could benefit from greater regional cooperation on monetary and financial issues. They would be able to exploit economies of scale, introduce best practices, and facilitate the adoption of common regulatory standards. Greater regional dialogue on monetary policy could also help the CLV countries find a solution to the so-called multiple-currency phenomenon and reap more benefits from their increasing regional economic interdependence. This study, conducted by a team of economists from the Asian Development Bank, academics, and personnel from CLV finance ministries and central banks, explores the issues of multiple currencies and regional monetary cooperation among the economies of the Association of Southeast Asian Nations (ASEAN) in the context of increasing regional economic interdependence. It reviews the main issues related to the monetary and exchange rate policy decisions taken by CLV national authorities, and discusses the options and opportunities available for enhancing monetary and financial stability in the ASEAN region.
Available for the first time in English, Cruz Miguel Ortiz Cuadra's magisterial history of the foods and eating habits of Puerto Rico unfolds into an examination of Puerto Rican society from the Spanish conquest to the present. Each chapter is centered on an iconic Puerto Rican foodstuff, from rice and cornmeal to beans, roots, herbs, fish, and meat. Ortiz shows how their production and consumption connects with race, ethnicity, gender, social class, and cultural appropriation in Puerto Rico. Using a multidisciplinary approach and a sweeping array of sources, Ortiz asks whether Puerto Ricans really still are what they ate. Whether judging by a host of social and economic factors--or by the foods once eaten that have now disappeared--Ortiz concludes that the nature of daily life in Puerto Rico has experienced a sea change.
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The dark side of preferential trade agreements, Rules of Origin (RoO) are used to determine the eligibility of goods to preferential treatment. Ostensibly meant to prevent the trans-shipment of imported products across Free Trade Agreement borders after superficial screwdriver assembly, they act in reality as complex and opaque trade barriers. This book provides evidence strongly suggesting that they do so by intent rather than accidentally—-in other words, that RoOs are policy. Part one draws insights about the effects of RoOs on cross-border trade and outsourcing from recent economic theory. Part two reviews the evidence on RoOs in preferential agreements around the world, putting together the most comprehensive dataset on RoOs to date. Part three explores their "political economy"—-how special interests have shaped them and continue to do so. Part four provides econometric evidence on their costs for exporters and consequent effects on trade flows. Finally, part five explores how they affect trade in the developing world where they spread rapidly and have the potential to do most harm. Beyond the collection of new evidence and its interpretation in light of recent theory, the book's overall message for the policy community is that RoOs are a potentially powerful and new barrier to trade. Rather than being relegated to closed-door technical meetings, their design should hold center-stage in trade negotiations.
"Assesses how regional financial institutions can help developing countries, often at a disadvantage within the global financial framework, finance their investment needs, counteract the volatility of private capital flows, and make their voices heard"--Provided by publisher.
Doctoral Thesis / Dissertation from the year 2019 in the subject Politics - International Politics - Region: Africa, grade: 4.00 (very good), course: Governance and Regional Integration - Trade integration, language: English, abstract: This study investigated the determinants of intra-regional trade within the Common Market for Eastern and Southern Africa (COMESA) region, with a specific focus on export trade from the period 2000 to 2016 by utilizing panel data. The study used trade intensity index to measure the intensification of trade among member states and employed an augmented gravity model to identify factors affecting intra-COMESA trade flows using OLS, Random effect and Poisson Pseudo-Maximum Likelihood (PPML) estimators. The results from the Trade Intensity Index (TII) measure indicate that although the intra-COMESA trade remains low for most of the members, the intensity result appear to increase at slow rate at regional level. The analysis indicates that the trade strength of intra-COMESA exports increased from 11 percent in 2000 to 13.6 percent in 2016 at regional level. More specifically, Egypt and Kenya have expanded their export trade among other members of COMESA, while Libya has the smallest export trade share followed by Eretria. The results from gravity model showed that other factors remaining constant, export trade flows within COMESA region are significantly influenced by Regional Trade Agreement (RTA), distance between members, adjacency, land lockedness, common language, electoral democracy, economic size, population size and overlapping memberships at different magnitude for each variable. Using PPML the estimation result shows that distance, economic size of the importer and adjacency of members are the most significant variables explaining export volume among members. It is recommended that COMESA members need to invest on complementary products (export diversification) where they have comparative advantage through identification of p