Pier Carlo Padoan

This volume brings together leading contributors from North America and Europe to examine a key number of aspects of the economic integration process in Europe. It focuses on macroeconomic policy coordination, financial integration and analyzing the record of the European Monetary System. The book utilizes an 'international political economy' approach, a rising discipline which combines elements of economics and political science. Thus the approach views the process of European integration as the result of interaction between national economic policies and international regimes.

The Political Economy of International Financial Instability (1986) discusses international financial problems as a global issue, concentrating on systemic interactions. The interrelations among nation states, international organizations and market forces provide the framework for analysis. This global perspective emphasizes the interaction between political and economic elements.

The Political Economy of International Financial Instability (1986) discusses international financial problems as a global issue, concentrating on systemic interactions. The interrelations among nation states, international organizations and market forces provide the framework for analysis. This global perspective emphasizes the interaction between political and economic elements.

"The European economic and monetary union has changed the structure of international monetary relations fundamentally. In this book two experts--one European, the other American--offer transatlantic perspectives on the ramifications of the monetary union and the launch of the euro. C. Randall Henning examines selected American views on Europe's monetary union, and looks at the political, economic, and institutional interests of the United States as they are affected by the creation of the euro. He examines the external monetary policymaking machinery of the union and discusses the relationship of the monetary union to international institutions, particularly the meetings of the G-7 finance ministers and central bank governors and the International Monetary Fund. Henning is generally sympathetic to European integration, supportive of the monetary union, and persuaded of the importance of international cooperation. Pier Carlo Padoan presents a European view of the role of the euro in the international system. He looks at the euro as a potential global currency and examines the transition phase between a regional currency and a global currency. Central to this is an analysis of the appropriate exchange rate policy for the euro. He also considers euro-dollar relations and the prospects for transatlantic cooperation. C. Randall Henning is a professor at The American University and a senior fellow at the Institute for International Economics. Pier Carlo Padoan is a professor at the University of Rome and the College of Europe. "