| List of Tables |
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vii | |
| List of Figures |
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ix | |
| Preface |
|
xi | |
| Acknowledgements |
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xiii | |
| 1 Aspects of International Economics |
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1 | (7) |
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1 | (1) |
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1.2 The company and its international environment |
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2 | (4) |
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1.3 Questions raised by the case study |
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6 | (2) |
| 2 Internationalization and the World Economy |
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8 | (15) |
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8 | (1) |
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2.2 International trade flows |
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9 | (5) |
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2.3 The national significance of international trade |
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14 | (4) |
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2.4 International capital flows |
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18 | (4) |
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22 | (1) |
| 3 International Trade Theory |
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23 | (29) |
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23 | (1) |
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3.2 Emerging industrial countries: a case study |
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24 | (6) |
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3.3 Traditional trade theories |
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30 | (9) |
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39 | (11) |
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50 | (2) |
| 4 International Production Factors, Foreign Direct Investment and the Multinational Enterprise |
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52 | (33) |
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52 | (1) |
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4.2 The motor vehicle sector: a case study |
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53 | (2) |
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4.3 Similarities in international trade and international factor mobility |
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55 | (3) |
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4.4 International factor mobility and the question of distribution |
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58 | (3) |
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61 | (3) |
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4.6 Foreign direct investment |
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64 | (4) |
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4.7 The multinational enterprise (MNE) |
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68 | (6) |
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4.8 The MNE and the international relocation of production activities: some theories |
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74 | (9) |
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83 | (2) |
| 5 Trade Policy: A Welfare Theory Analysis |
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85 | (25) |
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85 | (1) |
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86 | (5) |
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5.3 The optimum tariff theory and other trade measures |
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91 | (6) |
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97 | (7) |
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5.5 Volume restrictions on trade |
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104 | (3) |
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5.6 Trade policy and market failures |
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107 | (2) |
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109 | (1) |
| 6 Modern Arguments Relating to Protection |
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110 | (8) |
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110 | (1) |
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6.2 External economies of scale and the competitive position |
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110 | (2) |
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6.3 Strategic trade policy |
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112 | (4) |
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116 | (2) |
| 7 Trade Policy and Market Forms: A Microeconomic Analysis |
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118 | (27) |
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118 | (1) |
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7.2 The video recorder market: a case study |
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119 | (2) |
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121 | (2) |
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7.4 Taking advantage of different national sub-markets |
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123 | (5) |
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7.5 Behaviour on entering international markets under monopolistic competition |
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128 | (2) |
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7.6 Oligopoly: analysis based on reaction curves |
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130 | (1) |
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7.7 Duopoly: competitive behaviour in the international market |
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131 | (3) |
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7.8 Trade policy and international duopoly |
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134 | (3) |
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7.9 Escalating protection and transfer mechanisms |
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137 | (2) |
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7.10 International cartels |
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139 | (3) |
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142 | (3) |
| 8 The Practice of Protection |
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145 | (22) |
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145 | (3) |
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8.2 The effectiveness of protection |
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148 | (2) |
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150 | (9) |
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159 | (7) |
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166 | (1) |
| 9 Business, Government and Lobbying |
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167 | (13) |
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167 | (1) |
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9.2 The practice of lobbying: a case study |
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167 | (3) |
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9.3 Political economy: demand for and supply of protection |
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170 | (5) |
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9.4 Competition between lobby groups |
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175 | (1) |
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176 | (1) |
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9.6 Appendix: Competition between lobby groups |
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177 | (3) |
| 10 Economic Integration |
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180 | (13) |
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180 | (1) |
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180 | (5) |
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10.3 Regional economic integration |
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185 | (2) |
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10.4 European economic integration |
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187 | (5) |
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192 | (1) |
| 11 The Balance of Payments and the Foreign-Exchange Market |
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193 | (20) |
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193 | (3) |
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11.2 Balance of payments: the classification system |
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196 | (3) |
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11.3 Balance of payments: the accounting practice |
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199 | (6) |
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11.4 Balance-of-payments analysis |
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205 | (2) |
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11.5 The functioning of foreign-exchange markets |
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207 | (2) |
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11.6 The exchange rate: concepts and presentation |
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209 | (2) |
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211 | (2) |
| 12 International Capital Flows |
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213 | (23) |
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213 | (3) |
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216 | (1) |
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12.3 Arbitrage and the forward exchange rate |
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217 | (4) |
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221 | (1) |
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12.5 Portfolio diversification |
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222 | (4) |
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12.6 Motives for exchange controls |
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226 | (2) |
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12.7 International capital markets and financial centres |
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228 | (5) |
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233 | (3) |
| 13 Exchange-Rate Explanation and Prediction |
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236 | (18) |
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236 | (1) |
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13.2 Exchange-rate theory: the long term |
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237 | (8) |
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13.3 Exchange-rate theory: additional short-term explanation |
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245 | (6) |
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13.4 Exchange-rate predictions |
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251 | (1) |
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252 | (2) |
| 14 Exchange-Rate Systems and Effects |
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254 | (22) |
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254 | (1) |
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14.2 Exchange-rate systems and policy |
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254 | (7) |
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14.3 The current account and international trade |
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261 | (6) |
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267 | (3) |
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14.5 Growth and unemployment |
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270 | (1) |
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270 | (2) |
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272 | (1) |
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273 | (3) |
| 15 International Risk: Types and Hedges |
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276 | (23) |
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276 | (1) |
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15.2 Types of international risk |
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277 | (7) |
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15.3 Hedging country risk |
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284 | (7) |
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15.4 Reducing exchange-rate risk |
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291 | (6) |
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297 | (2) |
| 16 International Monetary Cooperation |
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299 | (24) |
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299 | (1) |
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16.2 Types of international economic cooperation |
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300 | (5) |
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16.3 International monetary cooperation prior to 1945 |
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305 | (3) |
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16.4 International monetary cooperation between 1945 and 1973 |
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308 | (6) |
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16.5 International monetary cooperation after 1973 |
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314 | (7) |
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321 | (2) |
| 17 A Financial Obstacle to Economic Development: The World Debt Crisis |
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323 | (19) |
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323 | (1) |
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17.2 The causes of the world debt crisis of the 1980's |
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324 | (8) |
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17.3 The IMF and the debt problem |
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332 | (5) |
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337 | (3) |
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340 | (2) |
| 18 A Financial Obstacle to Economic Development: Currency Crises |
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342 | (22) |
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342 | (1) |
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18.2 Currency crises: three generations of theories |
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343 | (5) |
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18.3 The Mexican currency crisis, 1994-95 |
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348 | (3) |
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351 | (6) |
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18.5 Lessons from the crisis |
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357 | (5) |
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362 | (2) |
| 19 Irrevocably Fixed Exchange Rates: Recent Experiences |
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364 | (26) |
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364 | (1) |
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19.2 The theory of optimum currency areas |
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365 | (3) |
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368 | (3) |
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19.4 The Argentine currency board |
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371 | (5) |
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19.5 The process of European monetary integration |
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376 | (10) |
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386 | (4) |
| Bibliography |
|
390 | (8) |
| Index |
|
398 | |