Currency hierarchy and financial globalization : implications for peripheral economies / Luiz Fernando de Paula, (Professor of Economics, Institute of Economics, Federal University of Rio de Janeiro, Brazil), Barbara Fritz, (Professor of Economics, School of Business and Economics and the Institute for Latin American Studies at the Freie Universität Berlin, Germany) and Daniela Magalhães Prates, (Senior Economist working at an International Organisation and former Associate Professor of Economics, University of Campinas (UNICAMP), Brazil).

Format:

Book

Author/Creator:

de Paula, Luiz Fernando, author.

Fritz, Barbara, author.

Prates, Daniela Magalhães, author.

Contributor:

Edward Elgar Publishing, publisher.

Language:

English

Subjects (All):

International finance.

Genre:

Electronic books.

Physical Description:

1 online resource (184 pages)

Place of Publication:

Cheltenham, UK : Edward Elgar Publishing Limited, [2026]

Summary:

"This insightful book investigates how financial globalization shapes the hierarchical order of currencies in the international monetary system, evaluating the implications for peripheral countries. Authors Luiz Fernando de Paula, Barbara Fritz and Daniela Magalhães Prates explore currency hierarchy through a new Keynesian-Structuralist perspective, highlighting how peripheral economies are subject to greater macroeconomic and financial volatility. They outline how the current hierarchy fosters global and national inequalities, limiting peripheral countries' capacity to implement social and redistributive policies, and preventing them from achieving income parity. The book traces the historical evolution of the global monetary order, examines a new channel of external vulnerability, and illustrates the asymmetries between the two groups of peripheral countries, namely emerging market economies and frontier market economies. Adopting a forward-thinking approach, this book assesses potential policy shifts and their effectiveness in fostering growth, sustainability and equity. Currency Hierarchy and Financial Globalisation is a valuable resource for scholars and students in the fields of financial and international economics. The financial analysis and empirical research presented in this book will also be of great benefit to policy makers and practitioners"-- Provided by publisher.

Contents:

Contents: Foreword / José Antonio Ocampo

Acknowledgements

Currency hierarchy at the encounter of keynesian, Latin American structuralist and inequality studies: An Introduction

1. Theoretical foundations and historical perspectives

2. Currency hierarchy: The concept and implications for the policy space for peripheral economies

3. The metamorphosis of external vulnerability: From 'original sin' to 'original sin redux'

4. Expanding global financial integration at the periphery: The rising peril for frontier market economies

5. Developmentalism under global financial asymmetries: Which policy space for growth, sustainability and equity? Currency hierarchy and financial globalisation: A conclusion

References

Index.

Notes:

Includes bibliographical references and index.

Description based on print record.

ISBN:

9781035328833 (e-book)

Access Restriction:

Restricted for use by site license.