Roundtable: Institutions for the New Millennium

Matthew Bishop, T. Britton Harris, John Lipsky, Allan Meltzer and Guillermo A. Calvo

in International Financial Markets

Published by University of Chicago Press

Published in print April 2003 | ISBN: 9780226032146
Published online February 2013 | e-ISBN: 9780226032153 | DOI:
Roundtable: Institutions for the New Millennium

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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

Chapter.  14759 words. 

Subjects: International Economics

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