Hem C. Basnet
Published: 2011
Total Pages: 322
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With the fast pace of globalization, interdependence among economies is accelerating across the globe. Consequently, the economic and financial linkages between countries around the world are deepening more and more. Similarly, economic cooperation and policy coordination have been guiding principles to the policy makers, financial agents, and trade partners alike. Information flows from one corner of the world to another just in the blink of an eye. A small disturbance in USA for instance can create ripples and tides at the same time all over the world. The European integration has been a successful and an iconic example of economic integration in other regions. This dissertation consists of three essays. The first essay investigates the transmission of US and Euro area shocks to emerging market economies by analyzing their influences on real and monetary sectors. The second essay investigates the feasibility of economic integration in Latin America by considering the seven largest economies in the region i.e. Argentina, Brazil, Chile, Colombia, Mexico, Peru and Venezuela. Lastly, the third essay examines the role of exchange rates dynamics in Latin American countries considered in the second essay.