Research Discussion Paper – RDP 8908 Capital Flows and Exchange Rate Determination


This paper was prepared for a meeting on capital flows and exchange rate determination at the Bank for International Settlements (BIS). The meeting took place in Basle, Switzerland, on 15 and 16 November, 1989. We are grateful to Malcolm Edey, Stephen Grenville, David Gruen, Jerome Fahrer and Glenn Stevens for their helpful comments on the paper. The issues addressed in the paper were contained in a questionnaire prepared by the BIS.