Recognizing Reality—Unification of Official and Parallel Market Exchange Rates PDF Download
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Author: Mr.Simon T Gray
Publisher: International Monetary Fund
ISBN: 1513568639
Category : Business & Economics
Languages : en
Pages : 45
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Book Description
Some central banks have maintained overvalued official exchange rates, while unable to ensure that supply of foreign exchange meets legitimate demand for current account transactions at that price. A parallel exchange rate market develops, in such circumstances; and when the spread between the official and parallel rates is both substantial and sustained, price levels in the economy typically reflect the parallel market exchange rate. “Recognizing reality” by allowing economic agents to use a market clearing rate benefits economic activity without necessarily leading to more inflation. But a unified, market-clearing exchange rate will not stabilize without a supportive fiscal and monetary context. A number of country case studies are included; my thanks to Jie Ren for pulling together all the data for the country case studies, and the production of the charts.
Author: International Monetary Fund
Publisher:
ISBN:
Category :
Languages : en
Pages : 80
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Book Description
Author: Mr.Simon T Gray
Publisher: International Monetary Fund
ISBN: 1513568639
Category : Business & Economics
Languages : en
Pages : 45
Get Book Here
Book Description
Some central banks have maintained overvalued official exchange rates, while unable to ensure that supply of foreign exchange meets legitimate demand for current account transactions at that price. A parallel exchange rate market develops, in such circumstances; and when the spread between the official and parallel rates is both substantial and sustained, price levels in the economy typically reflect the parallel market exchange rate. “Recognizing reality” by allowing economic agents to use a market clearing rate benefits economic activity without necessarily leading to more inflation. But a unified, market-clearing exchange rate will not stabilize without a supportive fiscal and monetary context. A number of country case studies are included; my thanks to Jie Ren for pulling together all the data for the country case studies, and the production of the charts.
Author: International Monetary Fund
Publisher: International Monetary Fund
ISBN: 1513511726
Category : Business & Economics
Languages : en
Pages : 122
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Book Description
The audited consolidated financial statements of the International Monetary Fund as of April 30, 2019 and 2018
Author: Kazuhiko Yago
Publisher: Springer
ISBN: 4431553517
Category : Business & Economics
Languages : en
Pages : 338
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Book Description
This book describes the history of the IMF from its birth, through the Bretton Woods era, and in the aftermath. Special attention is paid to integrating IMF history with the macro-economic policies of member countries and of other international institutions as well. This collection of work presents a clear understanding, inter alia, of the influence of the United States over IMF policy via the National Advisory Committee; the dealings of the IMF with the UK on pound sterling policy; the institutional change of the IMF brought about by Per Jacobsson, the third managing director; and France, Italy, Germany, Canada, and Japan vis-à-vis IMF consultations. It also provides the reader with topics concerning the bankers’ acceptance market function and international liquidity issues in relation to IMF policy; the final chapter sheds light on the long-standing relations between the IMF and China, from the Bretton Woods Agreement to the contemporary period. All the chapters are archive-based academic studies providing deep insights with historical background, which makes this book the first thoroughly independent achievement in the field of IMF history. This book is highly recommended to readers interested in contemporary monetary and financial history and those who seek to obtain a coherent image of postwar international institutions and markets.
Author: International Monetary Fund
Publisher: International Monetary Fund
ISBN: 9781557758606
Category : Business & Economics
Languages : en
Pages : 124
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Book Description
A selective index of major research papers prepared by IMF staff in 1991-98.
Author: International Monetary Fund. Finance Dept.
Publisher: International Monetary Fund
ISBN: 1484330870
Category : Business & Economics
Languages : en
Pages : 196
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Book Description
IMF Financial Operations 2018 provides a broad introduction to how the IMF fulfills its mission through its financial activities. It covers the financial structure and operations of the IMF and provides background detail on the financial statements. It reviews the IMF's three main activities: lending, surveillance, and technical assistance.
Author: Randall W. Stone
Publisher: Princeton University Press
ISBN: 1400824435
Category : Political Science
Languages : en
Pages : 311
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Book Description
With the end of the Cold War, the International Monetary Fund emerged as the most powerful international institution in history. But how much influence can the IMF exert over fiercely contested issues in domestic politics that affect the lives of millions? In Lending Credibility, Randall Stone develops the first systematic approach to answering this question. Deploying an arsenal of methods from a range of social sciences rarely combined, he mounts a forceful challenge to conventional wisdom. Focusing on the former Soviet bloc, Stone finds that the IMF is neither as powerful as some critics fear, nor as weak as others believe, but that the answer hinges on the complex factor of how much credibility it can muster from country to country. Stone begins by building a formal, game-theoretic model of lending credibility, which he then subjects to sophisticated quantitative testing on original data from twenty-six countries over the 1990s. Next come detailed, interview-based case studies on negotiations between the IMF and Russia, Ukraine, Poland, and Bulgaria. Stone asserts that the IMF has exerted startling influence over economic policy in smaller countries, such as Poland and Bulgaria. However, where U.S. foreign policy interests come more heavily into play, as in Russia, the IMF cannot credibly commit to enforcing the loans-for-policy contract. This erodes its ability to facilitate enduring market reforms. Stone's context is the postcommunist transition in Europe and Asia, but his findings carry implications for IMF activities the world over.
Author: Ngaire Woods
Publisher: Cornell University Press
ISBN: 0801456010
Category : Political Science
Languages : en
Pages : 276
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Book Description
"The IMF and the World Bank have integrated a large number of countries into the world economy by requiring governments to open up to global trade, investment, and capital. They have not done this out of pure economic zeal. Politics and their own rules and habits explain much of why they have presented globalization as a solution to challenges they have faced in the world economy."—from the IntroductionThe greatest success of the International Monetary Fund and the World Bank has been as globalizers. But at whose cost? Would borrowing countries be better off without the IMF and World Bank? This book takes readers inside these institutions and the governments they work with. Ngaire Woods brilliantly decodes what they do and why they do it, using original research, extensive interviews carried out across many countries and institutions, and scholarship from the fields of economics, law, and politics.The Globalizers focuses on both the political context of IMF and World Bank actions and their impact on the countries in which they intervene. After describing the important debates between U.S. planners and the Allies in the 1944 foundation at Bretton Woods, she analyzes understandings of their missions over the last quarter century. She traces the impact of the Bank and the Fund in the recent economic history of Mexico, of post-Soviet Russia, and in the independent states of Africa. Woods concludes by proposing a range of reforms that would make the World Bank and the IMF more effective, equitable, and just.
Author: Phillip Y. Lipscy
Publisher: Cambridge University Press
ISBN: 1107149762
Category : Political Science
Languages : en
Pages : 343
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Book Description
Phillip Y. Lipscy explains how countries renegotiate international institutions when rising powers such as Japan and China challenge the existing order. This book is particularly relevant for those interested in topics such as international organizations, such as United Nations, IMF, and World Bank, political economy, international security, US diplomacy, Chinese diplomacy, and Japanese diplomacy.
Author: Mr.James M. Boughton
Publisher: International Monetary Fund
ISBN: 9781557759702
Category : Business & Economics
Languages : en
Pages : 68
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Book Description
This pamphlet is adapted from Chapter 1 of Silent Revolution: The International Monetary Fund, 1979-89, by the same author. That book is full of history of the evolution of the Fund during 11 years in which the institution truly came of age as a participant in the international financial system.
