Challenges to Central Banking from Globalized Financial System

This publication contains a collection of papers presented at the IMF's ninth central banking conference, held in September 2002, which discuss key issues and policy challenges to the role of central banks arising from the integration of domestic and international markets and shifts in cross-border capital flows. These include determinations of exchange rates and monetary regimes, what can be done to prevent and deal decisively with financial crises, and considerations to balance monetary and financial-stability policy objectives.