Comments: Can the Right Balance Be Achieved?

Jeffrey A. Frankel

Author:

Mr. Jeffrey A. Frankel

Mr. Jeffrey A. Frankel https://isni.org/isni/0000000404811396 International Monetary Fund

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Language:: English

Print Publication Date:: 18 Dec 2000

Keywords:: BOOK; crisis; financing; exchange rate; market; financial system; IMF policy advice; IMF Policy recommendation; IMF reform; emerging market crisis; emerging market country; Exchange rates; Emerging and frontier financial markets; Capital flows; Currencies; Global; Asia and Pacific; East Asia; Europe; Southeast Asia; financing-adjustment framework; financing-versus-adjustment framework; balance of payments equilibrium; crisis finance; adjustment target; Capital inflows; Private capital flows; Trade balance; Capital account

Abstract

My remarks fall into four parts: the general framework of financing versus adjustment as we have hitherto understood it; what instruments are to be employed to attain the adjustment targets; the actual pattern of adjustment that we have seen in recent crises; and whether and how the “financing-versus-adjustment” framework can still be viewed as relevant today after what we have learned.

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Reforming the International Monetary and Financial System

Editor:

Mr. Alexander K. Swoboda

and

Mr. Peter B. Kenen

ISBN:: 9781557758354

Publication Date:: 18 Dec 2000

Publisher:: International Monetary Fund

DOI:: https://doi.org/10.5089/9781557758354.071

Pages:: 448

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