Strengthening the International Financial System: Key Issues

Posted: 27 Sep 2001

See all articles by Daniel Citrin

Daniel Citrin

International Monetary Fund (IMF)

Stanley Fischer

Bank of Israel; National Bureau of Economic Research (NBER); International Monetary Fund (IMF)

Abstract

There has been notable progress in reforming the international financial system in order to improve the resilience of the world economy to volatility in international capital flows. This paper focuses on three critical issues central to the effort to reduce the frequency and virulence of crises: (a) exchange rate regimes, both amongst major industrial countries and for emerging market economics; (b) capital account liberalization, whether and how it should be done; and (c) the role of IMF lending in crisis prevention and management, and in particular the critical question of how to involve the private sector in the resolution of financial crises.

Suggested Citation

Citrin, Daniel and Fischer, Stanley, Strengthening the International Financial System: Key Issues. Available at SSRN: https://ssrn.com/abstract=253004

Daniel Citrin

International Monetary Fund (IMF)

700 19th Street NW
Washington, DC 20431
United States

Stanley Fischer (Contact Author)

Bank of Israel ( email )

P.O. Box 780
Jerusalem, 91907
Israel

National Bureau of Economic Research (NBER)

1050 Massachusetts Avenue
Cambridge, MA 02138
United States

International Monetary Fund (IMF) ( email )

700 19th Street NW
Washington, DC 20431
United States

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