Dissertation subject (working title):
"Monetary Policy Coordination: The Case of Mercosur"
One of the most striking phenomena in the international arena is the transformation of the geography of money (i.e. the global currency space), which is characterized by complex networks of political and commercial relationships between nations. Geography of money reflects the distribution of political and economic power, which results in an asymmetrical use of different currencies, explaining why Latin American countries are unable to borrow from abroad in their own currencies. This fact is not only relevant because of its economic implications but also because it is strongly related to national sovereignty and political stability. Thus, if we want to understand the opportunities and challenges that monetary coordination offers to South America, we must consider that this coordination would come as result of complex interactions between space and movement across their borders. Therefore, this work proposes a multidisciplinary approach, with a particular focus on the intersection between political and economic spaces in the South American region. The issue of regional monetary coordination is of particular relevance in South America, where countries are characterized by high levels of original sin (the inability of a country to borrow abroad in its own currency) and are experiencing processes of political and economical integration which may eventually lead to the coordination of the monetary policy of MERCOSUR and UNASUR's members. Thus, this research aims to contribute to the discussion through the use of diverse techniques to analyze the conditions behind a successful monetary policy coordination among South American countries and also to evaluate the likelihood of such possibility.