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This book focuses on «Convertibilidad», the latest Argentine experience of exchange rate based stabilisation, and aims at isolating the main causes for its tragic collapse in 2001-2002. The characteristics of Argentina’s high and hyperinflation during the 1980s are analysed, and the theory of currency boards is expounded. The stabilisation tool, an institutionally highly credible currency board arrangement (CBA), though highly effective, could not be an optimal long-term solution, given the country’s structural and trade characteristics. The analysis of the causes of the CBA’s collapse yields a complex picture of interacting factors, among them invaliding ones that had created multiple vulnerabilities over years, and triggering ones that unfolded their worst potential in meeting such vulnerable conditions.

Currency boards --- -Monetary policy --- -Currency question --- -332.410982 --- Fiat money --- Free coinage --- Monetary question --- Scrip --- Currency crises --- Finance --- Finance, Public --- Legal tender --- Money --- Monetary management --- Economic policy --- Money supply --- Financial institutions --- Monetary policy --- Argentina --- Argentina. --- Argentine Currency Board --- Argentine Republic. --- Monetary economics --- Development economics & emerging economies --- Environmental economics --- Political economy --- Currency question --- Argentinien --- Board --- Bust --- Case --- Currency --- Currency Board --- Fixed Exchange Rates --- Geschichte 1980-2002 --- Hyperinflation --- IMF --- Inflation --- IWF --- Konvertierbarkeit --- Maute --- Währung --- Washington Consensus --- Wechselkurs

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International finance --- International Monetary Fund --- anno 2000-2099 --- IMF. --- Internationaal monetair systeem. --- Financiële structuur. --- Financial institutions, International. --- International finance. --- Institutions financières internationales --- Finances internationales --- International Monetary Fund. --- Fonds monétaire international --- AA / International- internationaal --- 333.432.8 --- Financial institutions, International --- 332.152 --- International monetary system --- International money --- Finance --- International economic relations --- International financial institutions --- Internationale monetaire organisatie. Internationaal Muntfonds. Algemene leningovereenkomsten. --- Mezhdunarodnyĭ vali︠u︡tnyĭ fond --- Международный валютный фонд --- Miz︠h︡narodnyĭ vali︠u︡tnyĭ fond --- Fundo Monetário Internacional --- Fondo Monetario Internacional --- IMF (International Monetary Fund) --- FMI (International Monetary Fund) --- Internationaler Währungsfonds --- Kokusai Tsūka Kikin --- Fonds monétaire international --- Kukche Tʻonghwa Kigŭm --- Kansainvälinen Valuuttarahasto --- Kuo chi huo pi chi chin --- Fondul Monetar International --- Ṣundūq al-Naqd al-Dawlī --- Fondo M. Internacional --- IWF (International Monetary Fund) --- Kō̜ngthun Kānngœ̄n rawāng Prathēt --- MVF (International Monetary Fund) --- Międzynarodowy Fundusz Walutowy --- Mulya Aramudala --- I.M.F. (International Monetary Fund) --- Quỹ tiè̂n tệ quó̂c té̂ --- Nemzetközi Valuta Alap --- صندوق النقد الدولي --- 国际货币基金组织 --- 国際通貨基金 --- 國際貨幣基金組織 --- Fundu Monetariu Internacional --- Ṣundūq al-Naqd al-Duwalī --- DNT (Organization) --- BUSINESS & ECONOMICS --- Money & Monetary Policy --- International Finance --- Business & Economics --- Internationaal monetair fonds --- International monetary fund --- Financiële structuur. --- Institutions financières internationales --- Internationale monetaire organisatie. Internationaal Muntfonds. Algemene leningovereenkomsten --- Institutions financières internationales. --- Fonds monétaire international.

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The right of governments to employ capital controls has always been the official orthodoxy of the International Monetary Fund, and the organization's formal rules providing this right have not changed significantly since the IMF was founded in 1945. But informally, among the staff inside the IMF, these controls became heresy in the 1980's and 1990's, prompting critics to accuse the IMF of indiscriminately encouraging the liberalization of controls and precipitating a wave of financial crises in emerging markets in the late 1990's. In Capital Ideas, Jeffrey Chwieroth explores the inner workings of the IMF to understand how its staff's thinking about capital controls changed so radically. In doing so, he also provides an important case study of how international organizations work and evolve. Drawing on original survey and archival research, extensive interviews, and scholarship from economics, politics, and sociology, Chwieroth traces the evolution of the IMF's approach to capital controls from the 1940's through spring 2009 and the first stages of the subprime credit crisis. He shows that IMF staff vigorously debated the legitimacy of capital controls and that these internal debates eventually changed the organization's behavior--despite the lack of major rule changes. He also shows that the IMF exercised a significant amount of autonomy despite the influence of member states. Normative and behavioral changes in international organizations, Chwieroth concludes, are driven not just by new rules but also by the evolving makeup, beliefs, debates, and strategic agency of their staffs.

Financial services industry --- -Finance --- -Credit control --- -Financial crises --- -332.1 --- Crashes, Financial --- Crises, Financial --- Financial crashes --- Financial panics --- Panics (Finance) --- Stock exchange crashes --- Stock market panics --- Crises --- Business cycles --- Credit --- Credit allocation --- Credit policy --- Monetary policy --- Funding --- Funds --- Economics --- Currency question --- Services, Financial --- Service industries --- Deregulation --- -Electronic information resources --- Government policy --- Electronic information resources --- International Monetary Fund --- Mezhdunarodnyĭ vali︠u︡tnyĭ fond --- Международный валютный фонд --- Miz︠h︡narodnyĭ vali︠u︡tnyĭ fond --- Fundo Monetário Internacional --- Fondo Monetario Internacional --- IMF (International Monetary Fund) --- FMI (International Monetary Fund) --- Internationaler Währungsfonds --- Kokusai Tsūka Kikin --- Fonds monétaire international --- Kukche Tʻonghwa Kigŭm --- Kansainvälinen Valuuttarahasto --- Kuo chi huo pi chi chin --- Fondul Monetar International --- Ṣundūq al-Naqd al-Dawlī --- Fondo M. Internacional --- IWF (International Monetary Fund) --- Kō̜ngthun Kānngœ̄n rawāng Prathēt --- MVF (International Monetary Fund) --- Międzynarodowy Fundusz Walutowy --- Mulya Aramudala --- I.M.F. (International Monetary Fund) --- Quỹ tiè̂n tệ quó̂c té̂ --- Nemzetközi Valuta Alap --- صندوق النقد الدولي --- 国际货币基金组织 --- 国際通貨基金 --- 國際貨幣基金組織 --- Fundu Monetariu Internacional --- Ṣundūq al-Naqd al-Duwalī --- DNT (Organization) --- Electronic information resources. --- E-books --- AA / International- internationaal --- 333.432.8 --- 382.250 --- Internationale monetaire organisatie. Internationaal Muntfonds. Algemene leningovereenkomsten. --- Middelen om het evenwicht van de betalingsbalans te herstellen: algemeenheden. --- Credit control. --- Finance --- Financial crises. --- Government policy. --- Deregulation. --- International Monetary Fund. --- Internationaal monetair fonds --- International monetary fund --- Credit control --- Financial crises --- Internationale monetaire organisatie. Internationaal Muntfonds. Algemene leningovereenkomsten --- Middelen om het evenwicht van de betalingsbalans te herstellen: algemeenheden --- IMF. --- International finance

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This work continues the themes raised in Susan Strange's work, 'Casino Capitalism'. It covers the last decade, during which there has been continued instability in the market.

Speculation. --- International finance. --- Economic history. --- Economic history --- Economic conditions --- History, Economic --- Economics --- International monetary system --- International money --- Finance --- International economic relations --- Bucket-shops --- Commercial corners --- Corners, Commercial --- Gambling --- Commodity exchanges --- Contracts, Aleatory --- Investments --- Stock exchanges --- International Monetary Fund. --- Internationaal monetair fonds --- International monetary fund --- DNT (Organization) --- FMI (International Monetary Fund) --- Fondo M. Internacional --- Fondo Monetario Internacional --- Fonds monétaire international --- Fondul Monetar International --- Fundo Monetário Internacional --- Fundu Monetariu Internacional --- I.M.F. (International Monetary Fund) --- IMF (International Monetary Fund) --- Internationaler Währungsfonds --- IWF (International Monetary Fund) --- Kansainvälinen Valuuttarahasto --- Kokusai Tsūka Kikin --- Kō̜ngthun Kānngœ̄n rawāng Prathēt --- Kukche Tʻonghwa Kigŭm --- Kuo chi huo pi chi chin --- Mezhdunarodnyĭ vali͡utnyĭ fond --- Międzynarodowy Fundusz Walutowy --- Miz͡hnarodnyĭ vali͡utnyĭ fond --- Mulya Aramudala --- MVF (International Monetary Fund) --- Nemzetközi Valuta Alap --- Quỹ tiè̂n tệ quó̂c t --- Ṣundūq al-Naqd al-Dawl --- Ṣundūq al-Naqd al-Duwal --- Since 1945 --- Bank for International Settlements. --- Casino Capitalism. --- US-Japan axis. --- financial crime. --- global financial system. --- international political economy. --- midlevel theory building. --- post-Cold War world. --- technological change. --- transnational debt.

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In the late 1990's, economic and financial crises raged through East Asia, devastating economies that had previously been considered among the strongest in the developing world. The crises eventually spread to Russia, Turkey, and Latin America, and impacted the economies of many industrialized nations as well. In today's increasingly interdependent world, finding ways to reduce the risk of future crises-and to improve the management of crises when they occur-has become an international policy challenge of paramount importance. This book rises to that challenge, presenting accessible papers and commentaries on the topic not only from leading academic economists, but also from high-ranking government officials (in both industrial and developing nations), senior policymakers at international institutions, and major financial investors. Six non-technical papers, each written by a specialist in the topic, provide essential economic background, introducing sections on exchange rate regimes, financial policies, industrial country policies, IMF stabilization policies, IMF structural programs, and creditor relations. Next, personal statements from the major players give firsthand accounts of what really went on behind the scenes during the crises, giving us a rare glimpse into how international economic policy decisions are actually made. Finally, wide-ranging discussions and debates sparked by these papers and statements are summarized at the end of each section. The result is an indispensable overview of the key issues at work in these crises, written by the people who move markets and reshape economies, and accessible to not just economists and policymakers, but also to educated general readers. Contributors: Montek S. Ahluwalia, Domingo F. Cavallo, William R. Cline, Andrew Crockett, Michael P. Dooley, Sebastian Edwards, Stanley Fischer, Arminio Fraga, Jeffrey Frankel, Jacob Frenkel, Timothy F. Geithner, Morris Goldstein, Paul Keating, Mervyn King, Anne O. Krueger, Roberto Mendoza, Frederic S. Mishkin, Guillermo Ortiz, Yung Chul Park, Nouriel Roubini, Robert Rubin, Jeffrey Sachs, Ammar Siamwalla, George Soros

International finance --- Business cycles --- Financial crises --- Economic stabilization --- Economic policy --- International Monetary Fund --- LDC / Developping Countries - Pays En Développement --- 333.432.8 --- 333.425 --- 333.481 --- -Economic stabilization --- -Economic policy --- -338.542 --- Economic nationalism --- Economic planning --- National planning --- State planning --- Economics --- Planning --- National security --- Social policy --- Adjustment, Economic --- Business stabilization --- Economic adjustment --- Stabilization, Economic --- Crashes, Financial --- Crises, Financial --- Financial crashes --- Financial panics --- Panics (Finance) --- Stock exchange crashes --- Stock market panics --- Crises --- Internationale monetaire organisatie. Internationaal Muntfonds. Algemene leningovereenkomsten. --- Metalen geld. --- Monetaire crisissen, hervormingen, saneringen en stabilisering. --- Mezhdunarodnyĭ vali︠u︡tnyĭ fond --- Международный валютный фонд --- Miz︠h︡narodnyĭ vali︠u︡tnyĭ fond --- Fundo Monetário Internacional --- Fondo Monetario Internacional --- IMF (International Monetary Fund) --- FMI (International Monetary Fund) --- Internationaler Währungsfonds --- Kokusai Tsūka Kikin --- Fonds monétaire international --- Kukche Tʻonghwa Kigŭm --- Kansainvälinen Valuuttarahasto --- Kuo chi huo pi chi chin --- Fondul Monetar International --- Ṣundūq al-Naqd al-Dawlī --- Fondo M. Internacional --- IWF (International Monetary Fund) --- Kō̜ngthun Kānngœ̄n rawāng Prathēt --- MVF (International Monetary Fund) --- Międzynarodowy Fundusz Walutowy --- Mulya Aramudala --- I.M.F. (International Monetary Fund) --- Quỹ tiè̂n tệ quó̂c té̂ --- Nemzetközi Valuta Alap --- صندوق النقد الدولي --- 国际货币基金组织 --- 国際通貨基金 --- 國際貨幣基金組織 --- Fundu Monetariu Internacional --- Ṣundūq al-Naqd al-Duwalī --- DNT (Organization) --- Economic policy. --- Economic policy - Congresses. --- Economic stabilization. --- Economic stabilization - Congresses. --- Financial crises - Congresses. --- Financial crises. --- Internationaal monetair fonds --- International monetary fund --- 338.542 --- Metalen geld --- Internationale monetaire organisatie. Internationaal Muntfonds. Algemene leningovereenkomsten --- Monetaire crisissen, hervormingen, saneringen en stabilisering --- IMF --- E-books --- Financial crises - Congresses --- Economic stabilization - Congresses --- Economic policy - Congresses --- International Monetary Fund - Congresses --- economy, economics, finance, money, wealth, income, marketplace, new, contemporary, modern, 21st century, crisis, history, historical, 1990s, asia, eastern world, developing, russia, turkey, latin america, international, global, industrial, policy, essay collection, academic, scholarly, research, government, investor, technical, imf, stabilization, structural.