LEADER 02946nam 2200637 a 450 001 9910809288303321 005 20200520144314.0 010 $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(IMF)WPIEE2005003 035 $a(MiAaPQ)EBC3012552 035 $a(EXLCZ)993360000000442484 100 $a20090810d2005 uy 0 101 0 $aeng 135 $aurcn||||||||| 181 $ctxt 182 $cc 183 $acr 200 10$aFinancial globalization and exchange rates /$fprepared by Philip R. Lane and Gian Maria Milesi-Ferretti 205 $a1st ed. 210 $aWashington, D.C. $cInternational Monetary Fund, Research Dept.$d2005 215 $a1 online resource (46 p.) 225 1 $aIMF working paper ;$vWP/05/3 300 $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 paper ;$vWP/05/3. 606 $aInternational economic integration 606 $aForeign exchange rates 606 $aCapital movements 615 0$aInternational economic integration. 615 0$aForeign exchange rates. 615 0$aCapital movements. 700 $aLane$b Philip R.$f1969-$01763004 701 $aMilesi-Ferretti$b Gian Maria$0127043 712 02$aInternational Monetary Fund.$bResearch Dept. 801 0$bMiAaPQ 801 1$bMiAaPQ 801 2$bMiAaPQ 906 $aBOOK 912 $a9910809288303321 996 $aFinancial globalization and exchange rates$94204683 997 $aUNINA