Beauty queens and wallflowers
Subtitle: currency maps in the Middle East and Central Asia
By: prepared by Julian Berengaut and Katrin Elborgh-Woytek.
Contributors: Elborgh-Woytek, Katrin.; International Monetary Fund. Middle East and Central Asia Dept.
Series: IMF working paper -- WP/06/226
Publisher: International Monetary Fund, Middle East and Central Asia Dept.
Published: 2006
Place of publication: [Washington D.C.]
Language: eng
Number of pages: 26
Subjects: Monetary unions -- Middle East.; Monetary unions -- Asia, Central.
Description: Against the background of the theory of optimum currency areas, the paper analyzes possible sequences for establishing a currency union (CU) in the Middle East and Central Asia region. Between the corner solutions of independent currencies for all countries in the region and a CU comprising all countries, a large number of combinations of member countries in the CU is possible. The analysis aims to determine the composition of potential CUs as a function of the country initiating the CU, an exogenously determined number of currencies in the region, and the weight attached to the particular selection criteria. Within this framework, the study seeks to establish whether some countries are consistently selected at early stages of the process, while others join only at later stages.
Notes: Caption title.

"October 2006."

Includes bibliographical references (p. 24-26).

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