Hidden Bibliographic Details
| Other authors / contributors: | International Monetary Fund. African Department, issuing body.
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| ISBN: | 1455269522
9781455269525
1462324843
9781462324842
1455255513
9781455255511
1281155446
9781281155443
9786613776808
6613776807
9781451844764
145184476X
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| Notes: | Includes bibliographical references (pages 47-53).
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 This paper investigates the determinants of the international role of a currency. It argues that standard determinants such as monetary performance and financial openness are at best imperfect indicators of a currencys stability prospects, because the issuers promise of stability is not exogenously enforceable. the paper advocates an enforcement approach to international currencies that make explicit the underlying incentive incompatibilities. Additional enforcement determinants of currency internationalization are identified. the model is estimated using time-series cross-sectional analysis for three data sets. Monetary performance-related standard determinants fail to exhibit explanatory power, whereas the enforcement determinants are strongly significant and robust.
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| Other form: | Print version: Prem, Roohi, 1966- International currencies and endogenous enforcement. [Washington, D.C.] : International Monetary Fund, African Dept., ©1997
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