THE EXCHANGE STABILIZATION FUND by C. Randall Henning ( 9780881322712 )

Item Details

Title:

THE EXCHANGE STABILIZATION FUND
SLUSH MONEY OR WAR CHEST?

By:

C. Randall Henning

Format:

Paperback

List price:

£16.99

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£13.59

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£3.40

ISBN 10:

0881322717

ISBN 13:

9780881322712

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Publisher:

THE PETERSON INSTITUTE FOR INTERNATIONAL ECONOMICS

Pub. date:

1 April, 1999

Series:

Policy Analyses in International Economics 57

Pages:

140

Description:

This study argues that the Exchange Stabilization Fund is an important element of US foreign and economic policy and that it should remain controlled by the Treasury. Henning also covers the legislative history of the ESF and proposes principles by which the Fund should be administered.

Synopsis:

The Exchange Stabilization Fund (ESF) holds more than $40 billion that is at the disposal of the US Secretary of the Treasury for use in foreign exchange intervention and international financial support operations. Its use in the Mexican rescue package of 1995 brought the ESF into the public spotlight for the first time in recent years, and it has been deployed in Brazil and several Asian crisis countries as well. Its availability for such packages and its total control by the Treasury secretary have therefore become very controversial. Randall Henning's study maintains that the Fund is an important element of US foreign policy and economic policy and that it should remain under the exclusive control of the Treasury, but that Congress should exercise effective oversight. Henning also covers the legislative history of the ESF and outlines the principles by which the Fund should be administered.

Publication:

Imprint:

Institute for International Economics,U.S.

Returns:

Returnable

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