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Capital flows, exchange rates and financial conditions in EMEs in an evolving international monetary system

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  • Bank for International Settlements

Abstract

The papers in this volume reflect the key themes discussed at the meeting, exploring the intersection of global and domestic factors shaping EMEs’ financial conditions. They examine the evolving dynamics of capital flows and exchange rates, the role of local and foreign investors and the transmission of global financial shocks to EMEs. The volume also sheds light on the innovative approaches adopted by central banks to manage exchange rate pressures, address procyclical investor behaviours and enhance market infrastructure. By sharing the insights and experiences in these contributions, we aim to deepen the understanding of how EMEs can address the challenges of an increasingly interconnected and complex international monetary system in the future.

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Suggested Citation

  • Bank for International Settlements, 2026. "Capital flows, exchange rates and financial conditions in EMEs in an evolving international monetary system," BIS Papers, Bank for International Settlements, number 171.
    • Handle: RePEc:bis:bisbps:171
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    References listed on IDEAS

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    1. Rey, Hélène, 2015. "Dilemma not Trilemma: The Global Financial Cycle and Monetary Policy Independence," CEPR Discussion Papers 10591, Centre for Economic Policy Research.
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