This is the second annual volume of the International Economic Policy Review. It aims to make available a selection of policy papers prepared by staff or consultants working for the IMF. The papers included are relatively non-technical and provide the analytical background to IMF policy advice. Part I is concerned with issues related to economic growth, inflation and poverty. Part II looks at capital account liberalisation and financial sector vulnerability. Part II covers exchange rate relations of advanced transition economies.

Volume editor: Paul R. Masson, Padma Gotur, Tim Lane