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Market volatility and foreign exchange intervention in EMEs: what has changed?

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  • Bank for International Settlements

Abstract

This volume, summarising the discussion and papers presented at the meeting of Deputy Governors of major EMEs in Basel on 21-22 February 2013, addresses three questions. First, what is the role of a flexible exchange rate in stabilising the economy and promoting financial development while preserving stability? Second, how have the motives and strategy behind the interventions changed since the 2008 global financial crisis? Finally, is intervention effective and, if so, how can its efficacy be measured?

Individual chapters are listed in the "Chapters" tab

Suggested Citation

  • Bank for International Settlements, 2013. "Market volatility and foreign exchange intervention in EMEs: what has changed?," BIS Papers, Bank for International Settlements, number 73.
  • Handle: RePEc:bis:bisbps:73
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    References listed on IDEAS

    as
    1. Andrew Filardo & Madhusudan Mohanty & Ramon Moreno, 2012. "Central bank and government debt management: issues for monetary policy," BIS Papers chapters, in: Bank for International Settlements (ed.), Fiscal policy, public debt and monetary policy in emerging market economies, volume 67, pages 51-71, Bank for International Settlements.
    2. Carmen M. Reinhart & Graciela L. Kaminsky, 1999. "The Twin Crises: The Causes of Banking and Balance-of-Payments Problems," American Economic Review, American Economic Association, vol. 89(3), pages 473-500, June.
    3. Bank for International Settlements, 2012. "Fiscal policy, public debt and monetary policy in emerging market economies," BIS Papers, Bank for International Settlements, number 67.
    4. Bank for International Settlements, 2005. "Foreign exchange market intervention in emerging markets: motives, techniques and implications," BIS Papers, Bank for International Settlements, number 24.
    5. M S Mohanty & Philip Turner, 2006. "Foreign exchange reserve accumulation in emerging markets: what are the domestic implications?," BIS Quarterly Review, Bank for International Settlements, September.
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