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financial market, the convertibility of the domestic currency) provide an opportunity for non-residents performing various …
Persistent link: https://www.econbiz.de/10011269808
Capital account liberalization and exchange rate regime choice, what scope for flexibility in Tunisia? This study evaluates within a game-theoretic framework the exchange rate regime from a welfare perspective. In a tradable-nontradable goods model framework, Tunisia’s exchange rate regime...
Persistent link: https://www.econbiz.de/10009477444
the past, a monetary regime based on the commitment to convertibility of the domestic currency into specie, the … 'convertibility principle', was the prevailing pattern in the world economy. According to this principle, the fiscal regime is … the 'convertibility principle' and in many countries has been geared towards domestic stabilization goals, especially that …
Persistent link: https://www.econbiz.de/10010281355
) internationalization of the currency; (ii) currency convertibility; and (iii) reserve currency status. Their sequencing in relation to … attaining full convertibility or meeting other prerequisites for achieving reserve currency status. Ultimately, China will … proceed with capital account convertibility in its own controlled and gradual manner, with the goal being an open capital …
Persistent link: https://www.econbiz.de/10010282485
Capital account liberalization and exchange rate regime choice, what scope for flexibility in Tunisia? This study evaluates within a game-theoretic framework the exchange rate regime from a welfare perspective. In a tradable-nontradable goods model framework, Tunisia’s exchange rate regime...
Persistent link: https://www.econbiz.de/10005784612
, convertibility in 1842 linked the domestic currency with international money at fixed rates, but had hardly any bearing on the …
Persistent link: https://www.econbiz.de/10008514722
A key issue in creating a new currency union is setting the rates to convert national currencies into the new union currency. Planned unions in the Gulf region and Africa are seeking methods to set the conversion rates when their new currencies are created. We propose a forward-looking...
Persistent link: https://www.econbiz.de/10008528616
Economists in the United States wrote reams of commentary on Argentina’s recession-turned-depression of 1998-2002. Most ignored basic facts that were readily available. As a result, they committed important errors, including mistaking Argentina’s central banking system for a...
Persistent link: https://www.econbiz.de/10008484377
How should banks be regulated? Must governments tightly regulate banks to prevent financial panics, or is little or no regulation best? Can private banks be trusted to issue paper money or must this activity be a government monopoly? Theory can help answer these questions, but increasingly in...
Persistent link: https://www.econbiz.de/10008484427
Since the 2008 global financial crisis, China has rolled out a number of initiatives to actively promote the international role of the renminbi and to denominate more of its international claims away from the US dollar and into the renminbi. This paper discusses the factors shaping the prospects...
Persistent link: https://www.econbiz.de/10008583735