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The Euro's Challenge to the Dollar; Different Views From Economists and Evidence From Cofer (Currency Composition of Foreign Exchange Reserves) and Other Data
Lim, Ewe-Ghee - International Monetary Fund (IMF) - 2006
This paper examines opposing views on the euro's challenge to the dollar as an international currency. One view … euro has significantly overtaken the legacy currencies as a reserve currency. Generally, large economic size alone is … insufficient to challenge the network externalities supporting vehicle currencies, but scope exists for the euro to advance as an …
Persistent link: https://www.econbiz.de/10005825711
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Internationalization of Emerging Market Currencies; A Balance Between Risks and Rewards
Ahmed, Faisal; Wang, Shengzu; Lago, Isabelle Mateos y; … - International Monetary Fund (IMF) - 2011
Staff Discussion Notes showcase the latest policy-related analysis and research being developed by individual IMF staff and are published to elicit comment and to further debate. These papers are generally brief and written in nontechnical language, and so are aimed at a broad audience...
Persistent link: https://www.econbiz.de/10011245894
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International Currencies and Endogenous Enforcement; An Empirical Analysis
Prem, Roohi - International Monetary Fund (IMF) - 1997
This paper investigates the determinants of the international role of a currency. It argues that standard determinants such as monetary performance and financial openness are at best imperfect indicators of a currency’s stability prospects, because the issuer’s promise of stability is not...
Persistent link: https://www.econbiz.de/10005248276
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Concept of offshore Financial Centers; In Search of An Operational Definition
Zoromé, Ahmed - International Monetary Fund (IMF) - 2007
This paper proposes a new definition of Offshore Financial Centers (OFCs) and develops a statistical method to differentiate between OFCs and non-OFCs using data from the Coordinated Portfolio Investment Survey (CPIS), the International Investment Position (IIP), and the balance of payments. The...
Persistent link: https://www.econbiz.de/10005826251
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Modern Banking and OTC Derivatives Markets; The Transformation of Global Finance and its Implications for Systemic Risk
Drees, Burkhard; Schinasi, Garry J.; Kramer, Charles … - International Monetary Fund (IMF) - 2001
Persistent link: https://www.econbiz.de/10005590943
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RMB Internationalization; O+L5022nshore/Offshore Links
Maziad, Samar; Kang, Joong Shik - International Monetary Fund (IMF) - 2012
Among emerging market currencies, the RMB holds the most potential to become widely used internationally, due to China‘s large economic size, diversified trade structure and network, macroeconomic stability, and high growth rates - both current and expected. Yet, foreign access to...
Persistent link: https://www.econbiz.de/10011242289
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FX Funding Risks and Exchange Rate Volatility–Korea’s Case
Ree, Jack; Yoon, Kyoungsoo; Park, Hail - International Monetary Fund (IMF) - 2012
This paper examines how exchange rate volatility and Korean banks’ foreign exchange liquidity mismatches interacted with each other during the Global Financial Crisis, and whether the vulnerability stemming from this interaction has been reduced since then. Structural and cyclical changes...
Persistent link: https://www.econbiz.de/10011142019
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Balance Sheet Vulnerabilities of Mauritius During a Decade of Shocks
International Monetary Fund (IMF); International … - 2010
After reviewing the economic reform strategy of Mauritius for the past 10 years in the face of several external shocks, we apply a balance sheet analysis (BSA) focusing on currency, maturity, and intersectoral mismatches. In reviewing developments over this decade, we find that the currency and...
Persistent link: https://www.econbiz.de/10008560418
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Czech Koruna and Polish Zloty Currency Options; Information Contnent and Eu-Accession Implications
Morales, Armando Méndez - International Monetary Fund (IMF) - 2000
GARCH model shows a positive impact of the introduction of the Euro on exchange rate volatility for the Polish zloty … (negative for the Czech koruna), related to its larger exposure to external shocks. For countries in transition to Euro …
Persistent link: https://www.econbiz.de/10005248136
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Will the Emergence of the Euro Affect World Commodity Prices?
Liang, Hong; Cuddington, John T. - International Monetary Fund (IMF) - 2000
This study provides evidence that episodes of internal stability of exchange rates among the 11 Euro countries during … Euro on January 1, 1999, should be expected to contribute to reduced volatility of world commodity prices, other things …
Persistent link: https://www.econbiz.de/10005263979