LEADER 04159oam 22010454 450 001 9910961259003321 005 20251116183913.0 010 $a9786613800565 010 $a9781462380114 010 $a1462380115 010 $a9781452783475 010 $a1452783470 010 $a9781282107212 010 $a1282107216 010 $a9781451905588 010 $a1451905580 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(IMF)WPIEA2005003 035 $aWPIEA2005003 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 205 $a1st ed. 210 1$aWashington, D.C. :$cInternational Monetary Fund,$d2005. 215 $a1 online resource (46 p.) 225 1 $aIMF Working Papers 300 $a"January 2005." 311 08$a9781451860221 311 08$a1451860226 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 $aCurrency$2imf 606 $aExchange rates$2imf 606 $aExports and Imports$2imf 606 $aExternal position$2imf 606 $aForeign assets$2imf 606 $aForeign Exchange$2imf 606 $aForeign exchange$2imf 606 $aForeign liabilities$2imf 606 $aInternational economics$2imf 606 $aInternational finance$2imf 606 $aInternational Investment$2imf 606 $aInvestments, Foreign$2imf 606 $aLong-term Capital Movements$2imf 606 $aReal exchange rates$2imf 607 $aUnited States$2imf 615 0$aInternational economic integration. 615 0$aForeign exchange rates. 615 0$aCapital movements. 615 7$aCurrency 615 7$aExchange rates 615 7$aExports and Imports 615 7$aExternal position 615 7$aForeign assets 615 7$aForeign Exchange 615 7$aForeign exchange 615 7$aForeign liabilities 615 7$aInternational economics 615 7$aInternational finance 615 7$aInternational Investment 615 7$aInvestments, Foreign 615 7$aLong-term Capital Movements 615 7$aReal exchange rates 700 $aMilesi-Ferretti$b Gian$01812538 701 $aLane$b Philip$01816065 712 02$aInternational Monetary Fund.$bResearch Department. 801 0$bDcWaIMF 906 $aBOOK 912 $a9910961259003321 996 $aFinancial Globalization and Exchange Rates$94371710 997 $aUNINA