Exchange Rate Regimes and the Stability of the International Monetary System

Author/Editor: Atish R. Ghosh ; Jonathan David Ostry ; Charalambos G. Tsangarides
Publication Date: March 15, 2011
Electronic Access: Link to Abstract

Summary: The member countries of the International Monetary Fund collaborate to try to assure orderly exchange arrangements and promote a stable system of exchange rates, recognizing that the essential purpose of the international monetary system is to facilitate the exchange of goods, services, and capital, and to sustain sound economic growth. The paper reviews the stability of the overall system of exchange rates by examining macroeconomic performance (inflation, growth, crises) under alternative exchange rate regimes; implications of exchange rate regime choice for interaction with the rest of the system (external adjustment, trade integration, capital flows); and potential sources of stress to the international monetary system.
Series: Occasional Paper No. 270
Subject(s): Exchange rate regimes | Financial stability | International monetary system | Reserve currencies | Reserves accumulation | Trade integration

Publication Date: March 15, 2011
ISBN/ISSN: 9781589069312/0251-6365 Format: Paper
Stock No: S270EA Pages: 47
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