Currency Competition: A Hayekian Perspective on International Monetary Integration
从哈耶克1970年代的货币思想出发，分析货币国际化，强调其竞争理论、政府间货币竞争及国际货币一体化，预测未来货币竞争趋势。
Currency internationalization is examined from the vantage point of Friedrich Hayek's contributions in the 1970s. Compared with received commentaries in which only an idealized case for private money is attributed to Hayek, this paper underscores other dimensions of Hayek's work on money and currency. Hayek's case for “choice in currency” draws on his theory of competition, anticipates competition between government suppliers of fiat money, accommodates many aspects of international monetary integration, and embodies a distinctive approach to monetary independence, choice of exchange rate regime, and the transnationalization of currency. Hayekian predictions are outlined for future developments in currency competition.