Towards North American Monetary Union? : The Politics and History of Canada's Exchange Rate Regime

Many believe that Canada's deepening economic integration with the United States and the worldwide trend towards currency blocs will eventually lead to a North American monetary union. In the first detailed analysis of Canadian exchange rate politics, Eric Helleiner challenges this view. Contents List of Figures Preface Introduction PART ONE: CANADA'S EXCHANGE RATE POLITICS FROM 1850 TO 1985 1 The Birth and Early Life of the Canadian Dollar 2 The Floating Rate of the Interwar Years 3 The Short-Lived Commitment to Bretton Woods 4 From Fixed back to Floating Again: 1962–1985 PART TWO: FREE TRADE AND THE EMERGENCE OF THE NAMU DEBATE 5 The Exchange Rate Regime in the Free Trade Debate 6 The Neoliberal Case for NAMU and Its Reception 7 US Politics and the Canadian NAMU Debate 8 Quebec Sovereigntists in the NAMU Debate Conclusion: Canada and the Politics of Exchange Rate Regimes List of Abbreviations Notes Bibliography Index A B C D E F G H I J K L M N O P Q R S T U V W Y Z "Eric Helleiner provides a detailed exploration of the politics underlying Canada's recent debate over the merits of monetary union with the United States. Comparing the US Federal Reserve and the European Monetary Union, he argues that Canada would exercise far less influence within a North American monetary union than individual countries do within the European community. He also analyses the seemingly paradoxical support of Quebec sovereignists for free trade and monetary union." --Résumé de l'éditeur "Eric Helleiner provides a detailed exploration of the politics underlying Canada's recent debate over the merits of monetary union with the United States. Comparing the US Federal Reserve and the European Monetary Union, he argues that Canada would exercise far less influence within a North American monetary union than individual countries do within the European community. He also analyses the seemingly paradoxical support of Quebec sovereignists for free trade and monetary union."--BOOK JACKET Helleiner finds little support in the U.S. for the concessions that would be necessary to make a North American monetary union palatable in Canada. Comparing the U.S. Federal Reserve and the European Monetary Union, he argues that the influence of Canada within a North American monetary union would be far less than that of individual countries within the European community. He also considers the seemingly paradoxical support of Quebec sovereignists for free trade and monetary union.