The Prospects of Monetary Cooperation in Developing Countries —Test of the World Finance Crisis

Abstract

Since the 20th century, cooperation in financial field between many countries is getting closer with the rapid development of the world economy and trade. Some developing countries united for monetary cooperation or participated in the monetary system of developed countries. This article analyze the regional monetary system which is established by developing countries or the system they joined in, and give suggestions based on the economic development of each system during the recent decade and the global finance crisis in 2008.

Key words: monetary cooperation; exchange rate system; finance crisis; developing countries