The Review of Foreign Developments (RFD) series begins in 1945 and
ends in 1975. Starting in August 1971, papers in the RFD series
also appear in the International Finance Discussion Paper (IFDP)
series. These topics are focused on, though by no means limited to,
international macroeconomics, international trade, global finance,
financial institutions, and markets, as well as international
capital flows. The analyses and conclusions set forth in the RFD
series are those of the authors and do not indicate concurrence by
other members of the research staff or the Board of Governors.
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