The International Adjustment Process : New Perspectives, Recent Experience and Future Challanges for the Financial System

A Opening Addresses -- I Introduction -- II The Role of Financial Markets in the Adjustment Process: the Finnish Experience -- III The International Adjustment Process -- IV Problems of Adjustment in Developing Countries -- B Current and Potential Balance of Payments Adjustment Problems -- V External Adjustment in Small Open Economies — Some Recent Experience -- VI Balance of Payments Adjustment Processes in Japan -- VII US External Adjustment in Response to the Lower Dollar: the J-Curve -- VIII Balance of Payments Adjustment Problems — the Case of West Germany -- C The Modus Operandi of The Process of Adjustment -- IX Current and Prospective Balance of Payments Problems -- X Policy Design in the Face of a Terms of Trade Shock -- XI Financial Interdependence and External Adjustment: Some Problems Posed by US Federal Government Indebtedness -- XII Mode Opératoire D’ajustement et Marchés Spéculatifs — Premiers Enseignements de la Crise Financière Récente -- D Adjustment Policies -- XIII Exchange Rate Target Zones, the Louvre Accord and Policy Coordination -- XIV Reflections on World Economic Imbalances -- XV The International Economic Adjustment Mechanisms and the Coordination of Economic Policies -- XVI Recent Experience of International Monetary Policy Cooperation -- XVII The International Monetary System: Recent Developments and Key Issues -- E Special Problems of Adjustment in Developing Countries -- XVIII Special Problems of Adjustment in Developing Countries -- XIX Private Capital Flows and Developing Country Adjustment: Some Lessons of the Debt Crisis -- XX The Exchange Rate in the Adjustment Process of Less Developed Countries — a Multifarious Role -- XXI Foreign Lending Revisited 1880—1980 -- F Concluding Address -- XXII Issues in International Economic Management.