Foreign Exchange Market Organization in Selected Developing and Transition Economies: Evidence from a Survey Jorge Iván Canales Kriljenko imf working paper wp04/4

Characteristics of the Foreign Exchange Market 
Developing countries, Classification Criteria 8/ 
Foreign exchange license 
Survey 
By main source of export earnings 
Voice brokers 
Survey 
Fuel 
WEO 
Domestic
Survey 
Primary WEO 
Foreign
Survey 
Services 
WEO 
Foreign exchange bureaus 
Survey 
Manufactures 
WEO 
Code of conduct 
Survey 
Diversified 
WEO 
Dealer Association 
Survey 
Central bank as exclusive foreign 
Survey 
By main source of financing 
exchange agent of the government 
Survey 
NetCreditor 
WEO 
Periodic foreign exchange auction 
Survey 
Official 
WEO 
Electronic broking systems 
Survey 
Private 
WEO 
Net open position limits 
Survey 
Diversified fin 
WEO 
Forward markets 
Survey 
Developed, liquid, and deep 
Survey 
Transition countries 8/ 
WEO 
Undeveloped, illiquid, and shallow 
Survey 
Offshore markets 
Survey 
Developing and transition economies by 
geographic region 
Surrender requirements 1/ 
AREAER 
Africa 
IFS 
Residents prohibited from making domestic 
payments in foreign currencies. 
Survey 
Asia 
IFS 
Restrictions on the use of the domestic 
currency by nonresidents 
Survey 
Middle East 
IFS 
Dollarization of deposits (above 20 percent) 2/
Western Hemisphere 
IFS 
Segmented foreign exchange markets 3/ 
AREAER 
Eastern Europe 
IFS 
Continued on next page 

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APPENDIX
Table 13. Sources of Variables Subject to Cluster Analysis, 2001
(Concluded)