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The essays collected in this volume, written by well-known academics and policy analysts, discuss the impact of increased capital mobility on macroeconomic performance. The authors highlight the most adequate ways to manage the transition from a semi-closed economy to a semi-open one. Additionally, issues related to the measurement of openness, monetary control, optimal exchange rates regimes, sequencing of reforms, and real exchange rate dynamics under different degrees of capital mobility are carefully analyzed. The book is divided into four parts after the editor's introduction. The first part contains the general analytics of monetary policy in open economies. Parts two to four deal with diverse regional experiences, covering Europe, the Asian Pacific region, and Latin America. The papers on which the essays are based were originally presented at a conference on Monetary Policy in Semi-Open Economies, held in Seoul, Korea in November 1992.

International finance --- Capital movements --- Change [Cours du ] --- Cours du change --- Exchange rates --- Fixed exchange rates --- Flexible exchange rates --- Floating exchange rates --- Flottement des monnaies --- Fluctuating exchange rates --- Foreign exchange rates --- Kapitaalbewegingen --- Koersen [Wissel] --- Monetair beleid --- Monetaire politiek --- Monetary policy --- Monnaie -- Flottement --- Monnaie -- Politique gouvernementale --- Mouvements de capitaux --- Politique monétaire --- Wisselkoersen --- Wisseltarieven --- Monetary policy. --- Foreign exchange rates. --- 339.72 --- politique monetaire --- taux de change --- mouvements internationaux des capitaux --- commerce mondial --- economie --- AA / International- internationaal --- 333.80 --- 333.432.8 --- 333.450 --- 333.846.0 --- 333.451.0 --- Monetary systems --- 332.46 --- Monetary management --- Economic policy --- Currency boards --- Money supply --- Foreign exchange --- Rates of exchange --- Capital flight --- Capital flows --- Capital inflow --- Capital outflow --- Flight of capital --- Flow of capital --- Movements of capital --- Balance of payments --- Internationaal betalingsverkeer. Valutahandel. Wisselmarkten. Deviezenhandel. Internationale kapitaalmarkt. Flow and funds analysis. Betalingsbalans. Internationale geldmarkt. --- monetair beleid --- wisselkoers --- internationaal kapitaalverkeer --- wereldhandel --- Geld-, bank- en kredietpolitiek. Kapitaalmarkt en -rente: algemeenheden. --- Internationale monetaire organisatie. Internationaal Muntfonds. Algemene leningovereenkomsten. --- Theorie van het deviezenverkeer. Theorie van de koopkrachtpariteit. --- Verband tussen het monetair, bank- en kredietbeleid en de economische ontwikkeling: algemeenheden. --- Wisselmarkt: algemeenheden. --- Rates --- Capital movements. --- 339.72 Internationaal betalingsverkeer. Valutahandel. Wisselmarkten. Deviezenhandel. Internationale kapitaalmarkt. Flow and funds analysis. Betalingsbalans. Internationale geldmarkt. --- Internationale monetaire organisatie. Internationaal Muntfonds. Algemene leningovereenkomsten --- Theorie van het deviezenverkeer. Theorie van de koopkrachtpariteit --- Wisselmarkt: algemeenheden --- Geld-, bank- en kredietpolitiek. Kapitaalmarkt en -rente: algemeenheden --- Verband tussen het monetair, bank- en kredietbeleid en de economische ontwikkeling: algemeenheden --- Internationaal betalingsverkeer. Valutahandel. Wisselmarkten. Deviezenhandel. Internationale kapitaalmarkt. Flow and funds analysis. Betalingsbalans. Internationale geldmarkt --- Business, Economy and Management --- Economics