Balance of Payments Adjustment and International Liquidity

1964 ◽  
Vol 19 (1) ◽  
pp. 1
Author(s):  
Robert V. Roosa
Keyword(s):  
Balance Of Payments ◽  
International Liquidity

scholarly journals International Monetary Relations: Taking Finance Seriously

2017 ◽  
Vol 31 (3) ◽  
pp. 3-28 ◽  
Author(s):  
Maurice Obstfeld ◽  
Alan M. Taylor
Keyword(s):  
Exchange Rates ◽  
International System ◽  
Current System ◽  
International Monetary System ◽  
Balance Of Payments ◽  
Minimal Risk ◽  
International Liquidity ◽  
Monetary System ◽  
Financial Conditions ◽  
Monetary Relations

In this essay, we highlight the interactions of the international monetary system with financial conditions, not just with the output, inflation, and balance of payments goals usually discussed. We review how financial conditions and outright financial crises have posed difficulties for each of the main international monetary systems in the last 150 years or so: the gold standard, the interwar period, the Bretton Woods system, and the current system of floating exchange rates. We argue that even as the world economy has evolved and sentiments have shifted among widely different policy regimes, there remain three fundamental challenges for any international monetary and financial system: How should exchange rates between national currencies be determined? How can countries with balance of payments deficits reduce these without sharply contracting their economies and with minimal risk of possible negative spillovers abroad? How can the international system ensure that countries have access to an adequate supply of international liquidity—financial resources generally acceptable to foreigners in all circumstances? In concluding, we evaluate how the current international monetary system answers these questions.

Apartheid and International Monetary Reform

1970 ◽  
Vol 32 (3) ◽  
pp. 338-346 ◽  
Author(s):  
Rodney J. Morrison
Keyword(s):  
International Monetary System ◽  
Balance Of Payments ◽  
Monetary Reform ◽  
International Liquidity ◽  
Black Africans ◽  
Adjustment Mechanism ◽  
Monetary System ◽  
Racial Policy

Apartheid and international monetary reform have received much attention in recent years yet littleof the discussion of these issues has linked them in any meaningful way. The call for changes in the international monetary system has been based upon an alleged insufficiency in international liquidity anda need for an adjustment mechanism for secular balance of payments disequilibria. Opposition to apartheid, South Africa's segregationist racial policy, has been based upon humanitarian concern for the condition of black Africans in that country.

The Quality of Kazakhstan’s Economic Policy and Balance of Payments

2008 ◽  
pp. 120-132
Author(s):  
K. Arystanbekov
Keyword(s):  
Economic Growth ◽  
Economic Policy ◽  
Economic Development ◽  
Balance Of Payments ◽  
Foreign Investors ◽  
Negative Balance ◽  
Macroeconomic Efficiency

Kazakhstan’s economic policy in 1996-2007, its character and the degree of responsibility, the correlation between economic development and balance of current accounts are considered in the article. Special attention is paid to the analysis of their macroeconomic efficiency. It is concluded that in conditions of high rates of economic growth in Kazahkstan in 2000-2007 the net profits of foreign investors are 10-11% of GDP every year. The tendency of negative balance of current accounts in favor of foreign investors is also analyzed.

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