The Reform Of Mechanisms For Foreign Exchange Allocation
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The Reform of Mechanisms for Foreign Exchange Allocation by Eliana La Ferrara,Gabriel Castillo,John Nash Pdf
The paper provides an analysis of the mechanisms for foreign exchange allocation used in trade policy reform and an assessment of their effectiveness. The case is strong for avoiding delay in moving to full currency convertibility in dismantling or modifying foreign exchange controls. Movement to a unified free market for exchange would be facilitated by changes in policies and in donor practice, so exchange can be channeled through private sellers.
International Monetary Fund. Monetary and Capital Markets Department
Author : International Monetary Fund. Monetary and Capital Markets Department Publisher : International Monetary Fund Page : 105 pages File Size : 43,6 Mb Release : 2013-12-15 Category : Business & Economics ISBN : 9781484366806
Annual Report on Exchange Arrangements and Exchange Restrictions 2013 by International Monetary Fund. Monetary and Capital Markets Department Pdf
This is the 64th issue of the AREAER. It provides a description of the foreign exchange arrangements, exchange and trade systems, and capital controls of all IMF member countries. It also provides information on the operation of foreign exchange markets and controls on international trade. It describes controls on capital transactions and measures implemented in the financial sector, including prudential measures. In addition, it reports on exchange measures imposed by member countries for security reasons. A single table provides a snapshot of the exchange and trade systems of all IMF member countries. The Overview describes in detail how the general trend toward foreign exchange liberalization continued during 2012, alongside a strengthening of the financial sector regulatory framework. The AREAER is available in several formats. The Overview in print and online, and the detailed information for each of the 191 member countries and territories is included on a CD that accompanies the printed Overview and in an online database, AREAER Online. In addition to the information on the exchange and trade system of IMF member countries in 2012, AREAER Online contains historical data published in previous issues of the AREAER. It is searchable by year, country, and category of measure and allows cross country comparisons for time series.
Considerations on the Role of the SDR by International Monetary Fund. Finance Dept.,International Monetary Fund. Monetary and Capital Markets Department,International Monetary Fund. Research Dept.,International Monetary Fund. Strategy, Policy, & Review Department,International Monetary Fund. Statistics Dept.,International Monetary Fund. Legal Dept. Pdf
This paper explores whether a broader role for the SDR could contribute to the smooth functioning and stability of the international monetary system (IMS). Recent staff assessments highlighted that the IMS has displayed considerable resilience. But episodes of stress point also to some weaknesses, including in external adjustment mechanisms; limitations of official liquidity provisions through the Global Financial Safety Net (GFSN); and large-scale reserve accumulation—with systemic side effects. Those weaknesses, together with the expansion of the SDR basket, have renewed interest in the SDR and motivated a discussion of whether there is an economic rationale for a broader SDR role. The paper looks into how those weaknesses can be mitigated by three concepts of the SDR: the official SDR, the reserve asset administered by the IMF (O-SDR); SDR-denominated financial instruments, or “market SDRs” (M-SDR); and the SDR as a unit of account (U-SDR). However, the paper does not propose specific reform options.
African Economies in Transition by Jo Ann Paulson Pdf
An authoritative assessment of the reform efforts in African economies during the 1980s and early 1990s, with the focus on economic liberalization in those socialist countries which began from a position of pervasive state intervention. A companion theoretical volume (0-333-66545-7) examines the changing role of the state during the period of transition. This volume examines the important debate on agricultural reforms in the period, and provides in-depth country studies of the transition economies, covering Congo, Madagascar, Tanzania and the impact of war on transition in Angola and Mozambique. These books are the first in an important new series in association with the Centre for the Study of African Economies, University of Oxford.
Myanmar’s Foreign Exchange Market by Koji Kubo Pdf
This is the first book dedicated to the scrutinization of Myanmar's unofficial foreign exchange market, its roots in restrictive administrative controls on foreign exchange and international trade, and its effects on the country’s economic performance. This book integrates vast pieces of records and data with first-hand information from extensive fieldwork to create an overall picture of the chaotic but seemingly efficient foreign exchange market in Myanmar, a transitional economy in Southeast Asia whose economic systems had been less known due to its isolation until recently. This book illustrates how the unofficial foreign exchange market emerged during the country’s transition to a market-based economy, how informal currency deals proliferated under restrictive controls, and why they persist despite the significant economic reforms since 2011. Refuting the conventional wisdom of foreign exchange policy reforms, this research clarifies path-dependent features of foreign exchange market systems, and it discusses possible solutions for modernizing economic systems. This book is highly recommended to readers who seek an in-depth analytical narrative about informal economic activities and foreign exchange policy reforms in a fragile state.
Monetary and Exchange System Reforms in China by Mr.Bernard Laurens,Mr.Hassanali Mehran,Mr.Marc Quintyn,Mr.Tom Nordman Pdf
In 1978, China embarked on a gradual but far-reaching reform of its economic system. This paper focuses on the achievements so far in reforming the financial sector, the legal framework for financial transactions, the payments system, and the monetary policy and foreign exchange system. It also analyzes the tasks ahead to achieve the goals set in these areas for the year 2000.
Real Exchange Rate Behavior and Economic Growth by Mr.Ghiath Shabsigh,Ilker Domaç Pdf
This paper examines the effect of the real exchange rate misalignment (RERMIS) on the collective economic growth of Egypt, Jordan, Morocco, and Tunisia. The paper constructs three measures of exchange rate misalignment based on purchasing power parity; a black market exchange rate; and a structured model. The empirical investigation confirmed the adverse effect of RERMIS on growth, using all measures of RERMIS, as predicted by endogenous growth models. The results also highlighted the role of other factors; specifically, capital growth and population have the theoretical signs predicted by the Solow growth model and are statistically significant.
Inflation and Growth in China by Robert Mundell Pdf
This report brings together the proceedings of a conference on inflation & growth in China. The discussions benefited from the participation of senior central bank officials, academics, & IMF staff. Against the background of experiences from other countries, China's reform program was examined in detail, & the papers in this volume allow readers to draw inferences about the existence & sustainability of a trade-off between inflation & growth. The papers fall into three general categories: international experiences; sustainable growth & structural reform; & monetary & exchange rate policies.
Trade Regime and Economic Growth by Charles L Chanthunya,Victor Murinde Pdf
First published in 1998, this volume focuses on the relationship between trade policy and economic growth, one of the most controversial questions in the emerging paradigm on "international trade and economic development". Authored by a senior monetary expert and a senior lecturer in finance, the question is explored through institutional and policy issues with examples from a sample of ten African countries, with special reference to Malawi and Zambia. Asking which trade regime is appropriate for promoting economic growth in developing countries, the book concludes by discussing the appropriate strategy for African countries.
Studies on China's Special Economic Zones 2 by Yiming Yuan Pdf
The book provides an authoritative study on Special Economic Zones. The scope of the articles will include new theories, methods and discoveries in SEZ study, and specifically provide recent achievements in Special Economic Zones. The journal is aimed at economics undergraduates, postgraduates, economics researchers in social science institutions and the government. Special Economic Zone mode provides an easy approach to complete modernization in developing countries like China, the reader can get some important data source and major results in this area.
International Monetary Fund. Middle East and Central Asia Dept.
Author : International Monetary Fund. Middle East and Central Asia Dept. Publisher : International Monetary Fund Page : 93 pages File Size : 54,8 Mb Release : 2017-07-10 Category : Business & Economics ISBN : 9781484308653
Tunisia by International Monetary Fund. Middle East and Central Asia Dept. Pdf
This paper discusses Tunisia’s First Review Under the Extended Fund Facility (EFF), Request for Waivers of Nonobservance of Performance Criteria and Rephasing of Access. Most quantitative performance criteria (QPCs) for end-December 2016 were missed and all structural benchmarks (SBs) through March 2017 were delayed. Most delayed SBs, including on private sector legislation, performance contracts for public banks, the civil service strategy, and the large taxpayers unit are now completed. The remaining ones will be achieved by end-2017. The IMF staff recommends the completion of the EFF review and supports the authorities’ request for rephasing of access and waivers of nonobservance of end-December QPCs.
