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Issues of Openness and Flexibility for Foreign Exchange Systems

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  • International Monetary Fund

Abstract

This paper surveys briefly the main issues for official management of foreign exchange, including the choice of exchange rate regime and exchange and trade restrictive systems. It concludes by identifying the main forms of arrangements that have demonstrated their merits and practicability for developing countries in recent years, including auction and interbank exchange markets, market-based forward exchange rates, import license auctions, open general import licensing, and liberalized capital controls.

Suggested Citation

  • International Monetary Fund, 1989. "Issues of Openness and Flexibility for Foreign Exchange Systems," IMF Working Papers 1989/003, International Monetary Fund.
    • Handle: RePEc:imf:imfwpa:1989/003
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    File URL: http://www.imf.org/external/pubs/cat/longres.aspx?sk=28321
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    Cited by:

    1. Chien Nan Wang, 1990. "On the choice of the exchange-rate regimes," Working Papers (Old Series) 9002, Federal Reserve Bank of Cleveland.

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