This monograph examines the failure of the Portuguese Escudo Monetary Zone and the birth of new monetary and financial systems in Portuguese-speaking African countries. Examining colonial and post-colonial times, Mata analyses the decision to build a Portuguese monetary area in the early 1960s and mid-1970s when the decolonisation process was peaking. This book offers some important lessons regarding the functioning and dismantling of monetary areas, and on the importance of central-banks' co-operation.

Autorentext
Maria Eugénia Mata is Associate Professor at the Faculty of Economics at Nova University Lisbon, Portugal. Her research interests include Economic, Business and Financial History, and the History of Economic Thought. Mata is an Ex-President of the Portuguese Economic and Social History Association.

Inhalt
Chapter 1: Introduction: Why to Study The Portuguese Escudo Monetary Zone and its Impact in Colonial and Post-Colonial AfricaPart I. The Origin of the Escudo Monetary ZoneChapter 2: The Escudo Monetary ZoneChapter 3: The Difficulties in launching the Escudo Monetary ZoneChapter 4: War, Confidence, and Expectations. Adjusting the Rules of the Escudo Monetary ZonePart II. The Transition to a Revised Escudo Monetary ZoneChapter 5: The Heritage from the 19631968 Period. Marcelo Caetano and the Decision of Asking for StudiesChapter 6: The Technical and Political Discussion of the Escudo Zone Problems, and the Reform of 1971Chapter 7: The results of the 1971 Reform of Escudo Monetary Zone Union. The Angolan and Moçambican DivergencePart III. The End of the Revised Escudo Monetary SystemChapter 8: Decolonisation and Independence Agreements. Retornados and difficulties of the Banking SystemChapter 9: The Genesis of the New Currency Units and Banking Systems in the Portuguese-Speaking African Countries. The Co-operation with PortugalChapter 10: The End of the Escudo Zone Monetary Fund in 1980. The continuation of co-operationPart IV. Co-operation from Independences to the End of the MilleniumChapter 11: The New Currencies in the West-African Portuguese-Speaking
Countries and the Portuguese Co-operationChapter 12: The Angolan Kwanza and the Portuguese Co-operationChapter 13: The Mozambican Metical and the Portuguese Co-operationChapter 14: Final Remarks: Conclusions