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By Sebastian Edwards

This volume's essays, written via recognized lecturers and coverage analysts, talk about the effect of elevated capital mobility on macroeconomic functionality. The authors spotlight the main enough how you can deal with the transition from a semi-closed economic system to a semi-open one. also, matters regarding the dimension of openness, financial regulate, optimum alternate premiums regimes, sequencing of reforms, and genuine trade price dynamics lower than diverse levels of capital mobility are conscientiously analyzed; components lined comprise Europe, the Asian Pacific sector, and Latin the USA.

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Extra info for Capital Controls, Exchange Rates, and Monetary Policy in the World Economy

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And J. Ostry. (1991). Macroeconomic Implications of Real Exchange Rate Targeting in Developing Countries. IMF Staff Papers 38 (December): 872-900. Mundell, Robert A. (1989a). Trade Balance Patterns as Global General Equilibrium: The Seventeenth Approach to the Balance of Payments. Rivista di Politica Economica 79, no. 10 (September): 9-60. (1989b). The Global Adjustment System. Rivista di Politica Economica 79, no. 12 (December): 351-464. (1989c). Latin American Debt and the Transfer Problem: Introduction.

156, Princeton University. (1985). Stabilization and Liberalization: An Evaluation of Ten Years of Chile's Experiment with Free Market Policies, 1973-84. Economic Development and Cultural Change 33 (January): 223-54. Edwards, Sebastian, and Alejandra Cox-Edwards. (1987). Monetarism and Liberalization: The Chilean Experiment. : Ballinger. Kim, Sang Kyom. (1992). The New Approaches to Stages in Analysis of the Balance of Payments. D. , University of Pennsylvania. 9 ships that must be changed when the current account is altered, see Mundell (1989a, 1989b, 1991a).

Tighter money, high interest rates, and a falling stock market greeted the liberalization of the capital market in January 1992. 6 in 1989. Current policy Current economic policy is directed at containing inflation and reducing the exploding current account deficit. To this end the current plan aims to 7 See Mundell (1990, 1992a) for analysis of how demographics affects the balance of payments; and Kim (1992) for a recent examination of stages in the balance of payments in several countries with some focus on Korea.

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