Advancing Regional Monetary Cooperation examines regional monetary cooperation as a strategy to enhance macroeconomic stability in developing countries and emerging markets. The future of regional monetary cooperation is being questioned by the euro crisis: should developing countries and emerging markets, which are already actively engaged in regional monetary cooperation, refrain from such initiatives to avoid ending up in a crisis? Or should the euro zone crisis be regarded as precisely the reason to pursue regional monetary cooperation, for example in order to jointly shield fragile...