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This volume explores significant shortcomings in U.S. data on international capital transactions and their implications for policymakers. It offers clear-cut recommendations for U.S. agencies to bring data collection and analyses of the global economy into the 21st century. The volume explores how factors emerging since the early 1980s have shaped world financial markets; how the existing U.S. data system works and where it falls; and how alternative methods might improve coverage and accuracy.