would also allow Chinese interested in investing abroad nearly complete freedom to do so.
The analysis leads to a final section of conclusions, which support the basic premise of this article, and to an epilogue, highlighting the severe economic consequences of the Convertibility
Plan for Argentina, in terms of output loss and increase in unemployment, among other variables.
Indeed, in virtually every month of the convertibility
system's existence, the BCRA sterilized or offset changes in its foreign reserves, and in most months after 1994, it did so aggressively.
Little empirical work has been done previously to examine how currency convertibility
affects performance of financial markets in developing countries.
These agreements guarantee the convertibility
of the CFA Franc (issued by the Central Bank of West African States and by the Central African States Bank) and the Comorian Franc (issued by the Comorian Central Bank) with the French Franc at a fixed parity.
Dowd  responded that the problems discussed by S-W could be avoided by linking indirect convertibility
to a futures targeting approach.
Within the overall framework of dismantling trade barriers and expansion of world trade, convertibility
is at the centre stage.
This note extends the theory of the revenue maximizing rate of monetary growth to the case of a temporary suspension of convertibility
However, debt will be considered straight debt if it involves an unconditional written promise to pay on demand or on a specified date a sum certain in money; the interest rate and payment dates are not contingent on profits or the borrower's discretion; there is no convertibility
(direct or indirect) into stock; and the creditor otherwise would be a qualified S shareholder.
liabilities to foreign official institutions for an increase in world reserves was seen to be inconsistent in the long run with maintaining the convertibility
of the dollar into gold.
True currency convertibility
still does not exist, although recently the official rate of exchange for the dollar was only 30 percent below black-market standards, which is good for Eastern Europe.