This paper addresses the implications of financial globalization for exchange rate behavior. We highlight two …

rapid pace of financial globalization during recent years poses new challenges for the international monetary system. In … adjustment has grown in importance, relative to the traditional trade balance channel. Accordingly, this paper empirically … explores some of the inter-connections between financial globalization and exchange rate adjustment and discusses the policy …

rapid pace of financial globalization during recent years poses new challenges for the international monetary system. In … adjustment has grown in importance, relative to the traditional trade balance channel. Accordingly, this paper empirically … explores some of the inter-connections between financial globalization and exchange rate adjustment and discusses the policy …

rapid pace of financial globalization during recent years poses new challenges for the international monetary system. In … adjustment has grown in importance, relative to the traditional trade balance channel. Accordingly, this Paper empirically … explores some of the inter-connections between financial globalization and exchange rate adjustment and discusses the policy …

that ‘external wealth’ plays a critical role in determining the behavior of the trade balance, both through shifts in the …

engage in financial trade with small financial centers. …

and liabilities (such as trade imbalances, investment income flows, and capital gains) for major external creditors and …