Regional payment agreements: An alternative to currency convertibility?-Reference-Cited by-同舟云学术

Regional payment agreements: An alternative to currency convertibility?

Published:2023-04-21 Issue:88 Volume:42 Page:
ISSN:2248-4337
Container-title:Cuadernos de Economía
language:
Short-container-title:Cuad. Econ.

Author:

Bruchanski Marcelo,Molinari Andrea

Abstract

Regional Payment Agreements (RPAs) replicate, on a regional scale, John M. Keynes’s proposal at the Bretton Woods Conference, based on the recording and subsequent clearing of transactions. The analysis of the three “founding” RPAs from the Golden Age (Finland-USSR, European Payments Union and the LAFTA-LAIA Agreement on Reciprocal Payments and Credits) suggests that, in general, these agreements fulfiled their objectives: saving foreign currency and promoting trade. Hence, RPAs would present an alternative to currency convertibility for current account transactions.

Publisher

Universidad Nacional de Colombia

Subject

General Economics, Econometrics and Finance,Social Sciences (miscellaneous),Arts and Humanities (miscellaneous)

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