Hidden Bibliographic Details
Other authors / contributors: | Milesi-Ferretti, Gian Maria, author.
International Monetary Fund. Research Department, issuing body.
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ISBN: | 9781451905588 1451905580 1462380115 9781462380114 1452783470 9781452783475 1282107216 9781282107212 9786613800565 6613800562
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Digital file characteristics: | text file
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Notes: | Includes bibliographical references (pages 26-27). Restrictions unspecified Electronic reproduction. [Place of publication not identified] : HathiTrust Digital Library, 2010. Master and use copy. Digital master created according to Benchmark for Faithful Digital Reproductions of Monographs and Serials, Version 1. Digital Library Federation, December 2002. http://purl.oclc.org/DLF/benchrepro0212 English. digitized 2010 HathiTrust Digital Library committed to preserve Print version record.
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Summary: | Annotation The founders of the Bretton Woods System 60 years ago were primarily concerned with orderly exchange rate adjustment in a world economy that was characterized by widespread restrictions on international capital mobility. In contrast, the rapid pace of financial globalization during recent years poses new challenges for the international monetary system. In particular, large gross cross-holdings of foreign assets and liabilities mean that the valuation channel of exchange rate adjustment has grown in importance, relative to the traditional trade balance channel. Accordingly, this paper empirically explores some of the interconnections between financial globalization and exchange rate adjustment and discusses the policy implications.
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Other form: | Print version: Lane, Philip R., 1969- Financial globalization and exchange rates. Washington, D.C. : International Monetary Fund, ©2005
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