Currency Convertibility and the Fund: Review and Prognosis
IMF Working Papers, April 1, 1996
Source details
- Canonical URL
- Currency Convertibility and the Fund: Review and Prognosis
Other formats
Bibliographic details
- Authors: Vicente Galbis
- Published: April 1, 1996
- Series: IMF Working Papers
Scope and purpose
- Reviews experience with currency convertibility on both the current and capital accounts.
- Gives particular attention to the Fund’s concepts and policy implications.
- Discusses basic concepts of convertibility.
- Reviews experience with convertibility in three groups of Fund members:
- industrial countries
- developing countries
- transition countries
- Discusses policy options designed to encourage acceptance of convertibility by Fund members that have not yet done so.
Key findings and themes (as described in the paper)
- Examination of convertibility on both the current account and the capital account.
- Analysis framed around the Fund’s concepts and policy implications.
- Empirical review separated across three groups of Fund members: industrial, developing, and transition countries.
- Consideration of policy options to promote broader acceptance of convertibility.
Subjects and keywords
- Subject: Balance of payments, Capital controls, Capital flows, Current account, Exchange restrictions, Foreign exchange, Multiple currency practices
- Keywords: article XIV, Baltics, Capital controls, capital convertibility, capital convertibility need, Capital flows, capital restriction, capital transaction, Central and Eastern Europe, convertibility need, Current account, current account restriction, Exchange restrictions, Multiple currency practices, official rate, parallel rate, rate, transition country, WP