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International Financial MarketsThe Challenge of Globalization$
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Leonardo Auernheimer

Print publication date: 2003

Print ISBN-13: 9780226032146

Published to Chicago Scholarship Online: February 2013

DOI: 10.7208/chicago/9780226032153.001.0001

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PRINTED FROM CHICAGO SCHOLARSHIP ONLINE (www.chicago.universitypressscholarship.com). (c) Copyright University of Chicago Press, 2021. All Rights Reserved. An individual user may print out a PDF of a single chapter of a monograph in CHSO for personal use.date: 28 September 2021

Roundtable: Institutions for the New Millennium

Roundtable: Institutions for the New Millennium

(p.291) Chapter Eight Roundtable: Institutions for the New Millennium
International Financial Markets

Matthew Bishop

T. Britton Harris

John Lipsky

Allan Meltzer

Guillermo A. Calvo

University of Chicago Press

This chapter presents the text of the roundtable discussion of the report of the International Financial Institutions Advisory Commission (IFIAC). The panelists all agree that capital controls are not an answer to the financial crisis problem, except in very extreme circumstances and under conditions of credibility about their transitory nature. There is also a consensus that hybrid or intermediate exchange rate regimes should not be adopted, a sound domestic financial structure is of paramount importance and the International Monetary Fund (IMF) has a role to play the improvement of the international financial architecture.

Keywords:   roundtable discussion, IFIAC, capital controls, financial crisis, exchange rate regimes, IMF, international financial architecture

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