摘要：There are various benefi ts which countries could derive from the renouncement of a national currency hallmarked by unstable external and internal values. The most evident one is the reduction of a long-term in. ation rate. The objective of this paper is to test the hypothesis of the positive in. uence which monetary integration exerts on monetary stability and economic growth. On the other hand, monetary integration can also cause certain economic problems to countries' economies, such as the one of the balance-of-payments adjustment. Hence this paper surveys its in. uence on the current account balance of national economies. The hypotheses are tested empirically by examining the sample of 42 countries from di. erent regions and of di. erent development levels. The results suggest that the monetary integration in. uences the in. ation reduction in developing countries, but not the achieved economic growth rates. At the same time, the results indicate that monetary integration contributes to an increase in the current account defi cit of developing countries, but not of developed ones
关键词：international monetary integration; economic growth; in. ation; current account
