This paper provides a description and analysis of recent developments in international capital markets and an assessment of the prospects for private financing flows, in particular to the developing countries

This paper provides a description and analysis of recent developments in international capital (banking and bond) markets and an assessment of market conditions and prospects for financing flows, in particular

This paper introduces four studies on adoption of the euro in Croatia, Estonia, Hungary and Poland. It notes a common analytical framework, rooted in the optimal currency area literature, and a welcome emphasis on financial market issues. The paper highlights the importance of differing country...

Monetary policy has become increasingly important in the countries of the Commonwealth of Independent States (CIS) as fiscal adjustment and structural reforms have taken root. Inflation has been brought down to relatively low levels in almost all of these countries, raising the question of what...

Each episode of volatility in financial markets heightens the attention of government officials and others to the role played by the hedge fund industry in financial market dynamics. Hedge funds were implicated in the 1992 crises that led to major exchange rate realignments in the European...

This paper reviews the experience with capital controls in industrial and developing countries, considers the policy issues raised when the effectiveness of capital controls diminishes, examines the medium-term benefits and costs of an open capital account, and analyzes the policy measures that...