Reforming the International Monetary and Financial System

Books, December 18, 2000

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Reforming the International Monetary and Financial System

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Bibliographic details

• Published: December 18, 2000
• Series: Books
• DOI: https://doi.org/10.5089/9781557758354.071

Summary

• This volume examines the implications of greater financial integration on the international monetary and financial system, and how it should be reformed.
• Various experts consider the most disruptive manifestations of instability and the appropriate policy responses, including:
  • exchange rate volatility and misalignments;
  • unstable capital flows to emerging market economies;
  • abrupt capital flow reversals; and
  • private sector involvement in crisis resolution.
• The IMF’s role in crisis prevention and resolution is also examined.

Major themes and findings

• Exchange rate dynamics
  • Focus on exchange rate volatility and misalignments as a major source of instability.
• Capital flow instability
  • Analysis of unstable capital flows to emerging market economies and the risks from abrupt capital flow reversals.
• Crisis resolution and burden sharing
  • Consideration of private sector involvement in crisis resolution mechanisms.
• IMF role
  • Examination of the IMF’s role in both crisis prevention and crisis resolution in the context of greater financial integration.

Policy responses and areas of reform examined

• Exchange rate management and policies addressing misalignments.
• Measures to manage unstable capital flows and sudden reversals in emerging market economies.
• Frameworks and mechanisms for private sector involvement in crisis resolution.
• Institutional reforms and policy measures related to the IMF’s crisis-prevention and crisis-resolution functions.

Subjects and keywords

• Subject: Balance of payments, Capital flows, Currencies, Emerging and frontier financial markets, Exchange rate arrangements, Exchange rates, Financial crises, Financial markets, Foreign exchange, Money
• Keywords: Asia and Pacific, BOOK, Capital flows, Caribbean, crisis, Currencies, East Asia, Emerging and frontier financial markets, emerging market country, emerging market crisis, Europe, exchange rate, Exchange rate arrangements, Exchange rates, financial system, financing, Global, IMF policy advice, IMF Policy recommendation, IMF reform, market, short-term debt, Southeast Asia

Reforming the International Monetary and Financial System (December 18, 2000), International Monetary Fund. DOI: https://doi.org/10.5089/9781557758354.071