LEADER 03934oam 22009494 450 001 9910788527003321 005 20230617013314.0 010 $a1-4623-8011-5 010 $a1-4527-8347-0 010 $a1-282-10721-6 010 $a1-4519-0558-0 010 $a9786613800565 035 $a(CKB)3360000000442484 035 $a(EBL)3012552 035 $a(SSID)ssj0001475738 035 $a(PQKBManifestationID)11820604 035 $a(PQKBTitleCode)TC0001475738 035 $a(PQKBWorkID)11485154 035 $a(PQKB)10377111 035 $a(OCoLC)535146958 035 $a(MiAaPQ)EBC3012552 035 $a(IMF)WPIEE2005003 035 $a(EXLCZ)993360000000442484 100 $a20020129d2005 uf 0 101 0 $aeng 135 $aurcn||||||||| 181 $ctxt 182 $cc 183 $acr 200 10$aFinancial Globalization and Exchange Rates /$fGian Milesi-Ferretti, Philip Lane 210 1$aWashington, D.C. :$cInternational Monetary Fund,$d2005. 215 $a1 online resource (46 p.) 225 1 $aIMF Working Papers 300 $a"January 2005." 311 $a1-4518-6022-6 320 $aIncludes bibliographical references (p. 26-27). 327 $a""Contents""; ""I. INTRODUCTION""; ""II. TRENDS IN INTERNATIONAL FINANCIAL INTEGRATION""; ""III. EXTERNAL ASSET DYNAMICS""; ""IV. EXCHANGE RATES AND THE ADJUSTMENT PROCESS""; ""V. POLICY IMPLICATIONS""; ""VI. CONCLUDING REMARKS""; ""References""; ""APPENDIX I"" 330 3 $aThe founders of the Bretton Woods System 60 years ago were primarily concerned with orderly exchange rate adjustment in a world economy that was characterized by widespread restrictions on international capital mobility. In contrast, the rapid pace of financial globalization during recent years poses new challenges for the international monetary system. In particular, large gross cross-holdings of foreign assets and liabilities mean that the valuation channel of exchange rate adjustment has grown in importance, relative to the traditional trade balance channel. Accordingly, this paper empirically explores some of the interconnections between financial globalization and exchange rate adjustment and discusses the policy implications. 410 0$aIMF Working Papers; Working Paper ;$vNo. 2005/003 606 $aInternational economic integration 606 $aForeign exchange rates 606 $aCapital movements 606 $aExports and Imports$2imf 606 $aForeign Exchange$2imf 606 $aInternational Investment$2imf 606 $aLong-term Capital Movements$2imf 606 $aInternational economics$2imf 606 $aCurrency$2imf 606 $aForeign exchange$2imf 606 $aForeign assets$2imf 606 $aExchange rates$2imf 606 $aExternal position$2imf 606 $aForeign liabilities$2imf 606 $aReal exchange rates$2imf 606 $aInvestments, Foreign$2imf 606 $aInternational finance$2imf 607 $aUnited States$2imf 615 0$aInternational economic integration. 615 0$aForeign exchange rates. 615 0$aCapital movements. 615 7$aExports and Imports 615 7$aForeign Exchange 615 7$aInternational Investment 615 7$aLong-term Capital Movements 615 7$aInternational economics 615 7$aCurrency 615 7$aForeign exchange 615 7$aForeign assets 615 7$aExchange rates 615 7$aExternal position 615 7$aForeign liabilities 615 7$aReal exchange rates 615 7$aInvestments, Foreign 615 7$aInternational finance 700 $aMilesi-Ferretti$b Gian$01462146 701 $aLane$b Philip$01462147 712 02$aInternational Monetary Fund.$bResearch Dept. 801 0$bDcWaIMF 906 $aBOOK 912 $a9910788527003321 996 $aFinancial Globalization and Exchange Rates$93670988 997 $aUNINA