This paper examines the consequences of heightened capital mobility and of the integration of developing economies in increasingly globalized markets for the exchange rate regimes of the industrial, developing, and transition economies. It builds upon previous studies by IMF staff on various...

Since the early 1990s, many countries in sub-Saharan Africa have made significant progress in opening their economies to external competition through trade and currency liberalization. This paper analyzes trade and policy developments for 22 countries in eastern and southern Africa, looks at...

This paper discusses the salient features of recent developments and outlines the prospects for trade policy by highlighting the main issues that will determine the scope and timing of liberalization under a possible new General Agreement on Tariffs and Trade (GATT) round of multilateral trade...

In this context, Bhutan can become wealthier through accelerating both domestic and foreign investment, as well as signing investment treaties. These investments could provide not just capital but also bring necessary skills, knowledge and ideas, and help the country move beyond hydropower....