Putting the Cart Before the Horse? : Capital Account Liberalization and Exchange Rate Flexibility in China /
This paper reviews the issues involved in moving towards greater exchange rate flexibility and capital account liberalization in China. A more flexible exchange rate regime would allow China to operate a more independent monetary policy, providing a useful buffer against domestic and external shocks...
| المؤلف الرئيسي: | |
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| مؤلفون آخرون: | , |
| التنسيق: | دورية |
| اللغة: | English |
| منشور في: |
Washington, D.C. :
International Monetary Fund,
2005.
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| سلاسل: | IMF Policy Discussion Papers; Policy Discussion Paper ;
No. 2005/001 |
| الوصول للمادة أونلاين: | Full text available on IMF |
| الملخص: | This paper reviews the issues involved in moving towards greater exchange rate flexibility and capital account liberalization in China. A more flexible exchange rate regime would allow China to operate a more independent monetary policy, providing a useful buffer against domestic and external shocks. At the same time, weaknesses in China's financial system suggest that capital account liberalization poses significant risks and should be a lower priority in the short term. This paper concludes that greater exchange rate flexibility is in China's own interest and that, along with a more stable and robust financial system, it should be regarded as a prerequisite for undertaking a substantial liberalization of the capital account. |
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| وصف المادة: | <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required |
| وصف مادي: | 1 online resource (32 pages) |
| التنسيق: | Mode of access: Internet |
| تدمد: | 1934-7456 |
| وصول: | Electronic access restricted to authorized BRAC University faculty, staff and students |