Foreign Exchange Intervention in Developing and Transition Economies Results of a Survey

Based on evidence obtained from the IMF's 2001 Survey on Foreign Exchange Market Organization, the author argues that, for several reasons, some central banks in developing and transition economies may be able to conduct foreign exchange intervention more effectively than the central banks of d...

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Bibliographic Details
Main Author: Canales Kriljenko, Jorge
Format: eBook
Language:English
Published: Washington, D.C. International Monetary Fund 2003
Series:IMF Working Papers
Subjects:
Online Access:
Collection: International Monetary Fund - Collection details see MPG.ReNa
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651 4 |a Japan 
653 |a Depository Institutions 
653 |a Exchange rate arrangements 
653 |a Banks 
653 |a Finance 
653 |a Banks and banking 
653 |a Currency; Foreign exchange 
653 |a Micro Finance Institutions 
653 |a Financial Institutions and Services: Government Policy and Regulation 
653 |a Mortgages 
653 |a Foreign exchange intervention 
653 |a International Financial Markets 
653 |a Currency markets 
653 |a Foreign Exchange 
653 |a Financial markets 
653 |a Banks and Banking 
653 |a Banking 
653 |a Central Banks and Their Policies 
653 |a Foreign exchange market 
653 |a Exchange rates 
653 |a Finance: General 
653 |a Foreign exchange 
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520 |a Based on evidence obtained from the IMF's 2001 Survey on Foreign Exchange Market Organization, the author argues that, for several reasons, some central banks in developing and transition economies may be able to conduct foreign exchange intervention more effectively than the central banks of developed countries issuing the major international currencies. First, these central banks do not always fully sterilize their foreign exchange interventions. In addition, they issue regulations and conduct their foreign exchange operations in a way that increases the central bank's information advantage and the size of their foreign exchange intervention relative to foreign exchange market turnover. Some of the central banks also use moral suasion to support their foreign exchange interventions