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Appendix. Historical Experience in Establishing Convertibility

Appendix. Historical Experience in Establishing Convertibility »

Source: Currency Convertibility and the Transformation of Centrally Planned Economies

Series: Occasional Papers

Author(s): Joshua Greene , and Peter Isard

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 15 March 1991

ISBN: 9781557752147

Keywords: Centrally planned economies, current account, exchange rate, current account convertibility, foreign exchange, capital account

Historically, most countries have introduced current account convertibility rather late in their development process, usually after initiating industrial reforms and trade liberalization. Thus, few developin...

Credit Transactions by the Fund in SDRs

Credit Transactions by the Fund in SDRs »

Source: Thoughts on An international Monetary Fund Based Fully on the SDR

Series: Pamphlet Series

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 January 1979

ISBN: 9781451946246

Keywords: reserve tranche, monetary fund, reserve tranche positions, reserve positions, balance of payments

It would seem unlikely that in order to provide this new facility for its members the Fund would have found it necessary to split itself into two Departments and to require each member to make a contribution...

Currency Convertibility and the Transformation of Centrally Planned Economies

Currency Convertibility and the Transformation of Centrally Planned Economies »

Series: Occasional Papers

Author(s): Joshua Greene , and Peter Isard

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 15 March 1991

DOI: http://dx.doi.org/10.5089/9781557752147.084

ISBN: 9781557752147

Keywords: Centrally planned economies, current account, exchange rate, current account convertibility, foreign exchange, capital account

This paper examines the problems in establishing currency convertibility- and the optimal timing- in formerly planned economies making the transition to market-oriented systems....

Back Matter

Back Matter »

Source: Currency Convertibility and the Transformation of Centrally Planned Economies

Series: Occasional Papers

Author(s): Joshua Greene , and Peter Isard

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 15 March 1991

ISBN: 9781557752147

Keywords: Centrally planned economies, current account, exchange rate, current account convertibility, foreign exchange, capital account

This paper examines the problems in establishing currency convertibility- and the optimal timing- in formerly planned economies making the transition to market-oriented systems....

Front Matter

Front Matter »

Source: Currency Convertibility and the Transformation of Centrally Planned Economies

Series: Occasional Papers

Author(s): Joshua Greene , and Peter Isard

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 15 March 1991

ISBN: 9781557752147

Keywords: Centrally planned economies, current account, exchange rate, current account convertibility, foreign exchange, capital account

This paper examines the problems in establishing currency convertibility- and the optimal timing- in formerly planned economies making the transition to market-oriented systems....

Effects on Other Provisions

Effects on Other Provisions »

Source: Thoughts on An international Monetary Fund Based Fully on the SDR

Series: Pamphlet Series

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 January 1979

ISBN: 9781451946246

Keywords: reserve tranche, monetary fund, reserve tranche positions, reserve positions, balance of payments

(a) No Need for Separate Departments If the credit activities of the Fund were run on an SDR basis, the present separation of the two Departments would no longer be necessary, or ind...

General Department and Special Drawing Rights Department

General Department and Special Drawing Rights Department »

Source: Thoughts on An international Monetary Fund Based Fully on the SDR

Series: Pamphlet Series

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 January 1979

ISBN: 9781451946246

Keywords: reserve tranche, monetary fund, reserve tranche positions, reserve positions, balance of payments

The two Departments in the Fund use radically different techniques to perform financial functions for members that are in many respects similar: both Departments enable a member in deficit to use financial r...

I Introduction

I Introduction »

Source: Currency Convertibility and the Transformation of Centrally Planned Economies

Series: Occasional Papers

Author(s): Joshua Greene , and Peter Isard

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 15 March 1991

ISBN: 9781557752147

Keywords: Centrally planned economies, current account, exchange rate, current account convertibility, foreign exchange, capital account

Many countries that have had centrally planned economies are now undergoing a dramatic transformation aimed at making their economies more market oriented. Far-reaching reforms are contemplated or under way,...

II Definitions

II Definitions »

Source: Currency Convertibility and the Transformation of Centrally Planned Economies

Series: Occasional Papers

Author(s): Joshua Greene , and Peter Isard

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 15 March 1991

ISBN: 9781557752147

Keywords: Centrally planned economies, current account, exchange rate, current account convertibility, foreign exchange, capital account

The meaning of “convertibility” has changed over time as the international monetary system has evolved (Haberler (1954). Before the 1930s, convertibility was generally defined as the right to convert a curre...

III Effects of Current and Capital Account Convertibility

III Effects of Current and Capital Account Convertibility »

Source: Currency Convertibility and the Transformation of Centrally Planned Economies

Series: Occasional Papers

Author(s): Joshua Greene , and Peter Isard

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 15 March 1991

ISBN: 9781557752147

Keywords: Centrally planned economies, current account, exchange rate, current account convertibility, foreign exchange, capital account

Establishing convertibility for international transactions has a variety of implications for an economy. By exposing the economy to the pressures of foreign competition, current account convertibility, along...